Group RRSPs are gaining ground on traditional retirement plans. In fact, group RRSPs offer many advantages to employers. Are you familiar with them?

Here are the main advantages of group RRSPs:

Easy to manage

The administrative rules for group RRSPs are less stringent than those for traditional plans. In addition, the services offered via group RRSPs mean you can administer your plan quickly and easily.

Employee loyalty

A group RRSP is a valuable addition to your benefits program. According to a survey conducted on behalf of Questionretraite.ca, over one-half of the respondents were of the opinion that having a retirement plan in place helps to maintain employees' loyalty to the firm (60%) and facilitates retirement planning (52%).

Affordable

The costs associated with group RRSPs are lower than those for traditional plans.

Tax deductions

The contributions that your firm makes to your employees' group RRSP are tax deductible.

Flexible

Group RRSPs are known for the flexibility they offer to employers. For example, you determine the plan contribution criteria, depending on what's best for your firm.

For further information, please contact our team at RCCAQ assurance, which offers Vigilis group RRSP products.