Helping Members Build a Secure Financial Future
Planning for retirement can feel overwhelming, especially with changing markets, rising living costs, and shifting government programs such as CPP/QPP, OAS, and GIS. A Group Retirement Plan helps make that journey clearer and more accessible by allowing employees to save consistently, automatically, and tax-efficiently.
Our firm supports employers and plan members across Quebec and Ontario by helping them understand how their group retirement savings work, what benefits they offer, and how to maximize long-term outcomes. We work independently with Canada’s leading providers—including Sun Life, Canada Life, Manulife, iA Financial, Desjardins, RBC Group Advantage, and others.
What Is a Group Retirement Plan?
A Group Retirement Plan is a workplace savings program that allows employees to contribute toward their retirement with help from their employer. Contributions are typically made through payroll, making saving simple and consistent.
The most common types of plans include:
• Group RRSP (Registered Retirement Savings Plan)
• Defined Contribution Pension Plan (DC-Pension)
• Group TFSA (Tax-Free Savings Account)
• Deferred Profit-Sharing Plan (DPSP)
• Voluntary Retirement Savings Plan (VRSP) – Quebec
Each plan offers different advantages, but all help employees grow long-term savings while benefiting from tax efficiency and employer support.
Why Group Retirement Plans Matter for Employees
Group retirement programs are valuable because they offer:
1. Automatic Contributions
Savings are deducted directly from payroll, making it easier to stay consistent.
2. Employer Matching (when available)
Many employers match contributions—often 50% to 100%—which is essentially free retirement money.
3. Lower Investment Fees
Group plans typically offer reduced fees compared to retail investment accounts, allowing more money to stay invested and grow.
4. Professional Investment Management
Funds are managed by experts from companies like Sun Life, Canada Life, Manulife, and iA Financial Group.
5. Tax Advantages
RRSP contributions reduce taxable income, while TFSA contributions grow tax-free.
In Quebec, VRSPs offer simple enrollment and accessible rules.
6. Easy Enrollment and Portability
Most plans allow online enrollment and can often be transferred if you leave your employer.
Group retirement savings can significantly increase long-term financial stability.
Understanding the Types of Group Retirement Plans
1. Group RRSP
• Employee contributions reduce taxable income
• Employer contributions are taxable as income but go directly into the plan
• Funds grow tax-deferred until withdrawn
• Flexible investment choices
2. Group TFSA
• Contributions are not tax-deductible
• Growth and withdrawals are tax-free
• Ideal for supplemental savings, emergency funds, or medium-term goals
3. Defined Contribution Pension Plan (DC)
• Contributions are locked in for retirement
• Employer matching is usually mandatory
• Predictable contributions but investment growth varies
• Governed by pension laws in Quebec and Ontario
4. Deferred Profit-Sharing Plan (DPSP)
• Employer-only contributions
• Funds grow tax-deferred
• Often paired with a Group RRSP for full flexibility
5. Voluntary Retirement Savings Plan (VRSP) – Quebec
• Mandatory for certain Quebec employers
• Simple and low-fee
• Easy enrollment for employees
• Portable when changing employers
We help members understand how each option works and how to coordinate benefits across multiple accounts.
Government Programs vs. Group Retirement Savings
Many members assume CPP/QPP or OAS will cover retirement costs—but government programs were designed to replace only a portion of income.
A complete retirement plan usually includes:
• CPP or QPP
• Old Age Security (OAS)
• Personal RRSP or TFSA savings
• Employer pension or group plan
• Possibly a defined benefit or defined contribution plan
Group retirement plans help fill the gap between government income and an employee’s desired retirement lifestyle.
Maximizing Your Group Retirement Benefits
Employees can make the most of their plan by:
• Contributing enough to receive full employer matching
• Increasing contributions annually or after raises
• Reviewing investment options regularly
• Considering a mix of RRSP and TFSA contributions
• Understanding locking-in rules for pensions
• Reviewing beneficiaries after life changes (marriage, children, separation)
Our team helps members understand their options and make informed decisions that align with their financial goals.
Investment Options for Members
Group plans typically offer a range of professionally managed options, such as:
• Target-date (lifecycle) funds
• Conservative, balanced, and growth portfolios
• Guaranteed Interest Accounts (GIAs)
• low-fee index funds
• ESG (environmental, social, governance) funds
Each plan is designed to match different risk levels and time horizons.
We help members understand these choices so they can select the right strategy.
When Can Group Retirement Savings Be Withdrawn?
Withdrawal rules depend on the type of plan:
• Group RRSP – withdrawals allowed but taxable
• Group TFSA – withdrawals tax-free and flexible
• DPSP – rules vary based on vesting and employer conditions
• DC pension plans – funds are usually locked in and transferred to a LIRA at departure
• VRSP – withdrawals depend on locked-in vs unlocked contributions
We clarify options based on the plan type and provincial legislation.
Our Role in Supporting Plan Members
As an independent advisory firm, we help group retirement members:
• Understand their plan and contribution options
• Review investment choices and risk levels
• Coordinate RRSP, TFSA, pension, and VRSP strategies
• Plan for long-term retirement goals
• Navigate retirement income options at age 55+
• Understand government benefits like CPP/QPP, OAS, and GIS
• Evaluate how personal savings complement employer plans
Our goal is to make retirement planning clear, accessible, and meaningful.
Build a Confident, Secure Future
A Group Retirement Plan is one of the most powerful financial tools available to Canadians. It encourages long-term saving, reduces taxes, and creates professional investment growth—all with the support of an employer.
Whether you’re new to your group plan or looking to optimize your savings, guidance can make a significant difference.
Book a consultation with us to understand your group retirement options and build a personalized retirement strategy.
