Group RRSP

A retirement savings plan must allow your employees to save easily and regularly. That’s what National Bank Trust offers with the Group RRSP. 

This page explains how the Group RRSP works, and presents the tools we've developed to help your employees get the most out of their investments, whether they're planning for a comfortable retirement or simply wish to bring a project to fruition.

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What’s a group RRSP?

A group RRSP is essentially a collection of individual RRSPs. As with any RRSP, all contributions and investment earnings are tax-sheltered.

The benefits of the Group RRSP

  • No minimum contribution, and the amount can be changed at any time. No minimum required to be invested in investment funds.
  • All contributions made to the plan belong to the participant. Withdrawals can therefore be made at any time. Withdrawn amounts are however added to that year’s taxable income. 
  • Possibility of additional contributions, in addition to regular contributions.
  • Ease of contribution. Contributions are deducted directly from the paycheque. 
  • Contributions are made throughout the year to take advantage of market fluctuations.

Spousal contributions

To reduce tax rates, particularly at retirement, it is now possible to make contributions in the spouse's name. Doing so allows the participant to take advantage of the tax deduction on the contribution, as well as share the pension income with the spouse at retirement.