Benefits of Group RRSPs
For Employers
- Tax advantages – Employer contributions may be tax-deductible as a business expense.
- Attract and retain talent – Enhance your benefits package to attract and keep top employees.
- Boost employee satisfaction – Demonstrate your commitment to your employees' long-term financial well-being.
For Employees
- Immediate tax benefits – Contributions reduce their taxable income.
- Convenient savings – Automatic payroll deductions make savings effortless.
- Investment growth – Growth on investments is for tax-deferred.
- Access to HBP and LLP - Employees can access RRSP funds to purchase their first home or further their education.