Group RRSP’s or Pension Plans

Group RRSP’s or Pension Plans

Are you considering setting up a savings and investment plan for you employees? One option is a group RRSP, or registered retirement savings plan. This type of account is a great option for creating a tax savings plan that will provide your employees with added value to their benefits package. At Insureu, we are experienced with giving our clients advice on the best investments for their situation.

What Is A Group RRSP?

A registered retirement savings plan is a way to set money aside, tax-deferred, for the future. Each month, your employees can put money into the account without paying taxes on it, and it will grow in interest over time. This is an excellent way to save for the future and a retirement savings account is an important part of planning for what will happen when you retire. You do not have to pay taxes on the money until you withdraw it. Money is taken out of payroll checks and deposited into the account automatically each month. Your employees can decide how much money to withdraw and they get the tax benefit each month.

Investment planning can be a tricky area for business owners who may not have previous experience setting these type of accounts up for their employees. At Insureu, we are equipped to handle your business's unique challenges and needs. Our friendly and knowledgeable staff will answer any questions you may have, and help you set up a registered savings plan to compliment your employee benefit package.