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1. What is Group Retirement Saving Plan?
Group Retirement Savings Plan or GRSP allows employees in business organizations to invest directly from their payroll with pre-tax money for a collection of individual RRSP accounts. It is an effective way to help employees plan and prepare for a financially secure retirement.
2.Who should consider Group Retirement Saving Plan?
GRSP helps companies and business owners of all sizes look into the retirement and financial needs of their employees through savings, investments and banking privileges.
3.Benefits of Group Retirement Saving Plan
GRSP allows employees to select their investment option within this plan such as:
- Type of retirement
- Spousal benefit
- Self-directed account option
- Company contribution mode
- Preferred remittance mode
- Voluntary retirement savings
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