Contact Us
Contact Us

Rrsp/Pension Plan

HELP YOUR EMPLOYEES
SAVE FOR RETIREMENT

Connolly Group has extensive experience in bringing the right retirement savings plan to your company and its employees. From group Registered Retirement Savings Plans (RRSP), Deferred Profit Sharing Plans (DPSP) and Registered Pension Plans (RPP), we will analyze your company and its needs to create a solution tailor-made for your business.
  • A group RRSP plan helps members:
    • Save more of their money for retirement – contributions are tax deductible and investment earnings are tax-sheltered until withdrawal.
    • Choose investments to help save for retirement no matter what their investment knowledge or interest level – from simple to customized solutions.
    • Gain access to their funds to buy a first home (Home Buyers’ Plan) or for education (Lifelong Learning Plan).
    • Conveniently contribute through payroll deductions and save tax immediately.
    • Build their retirement savings by matching their contributions.
  • What is a Deferred Profit Sharing Plan (DPSP)?
    • An employer-sponsored plan that allows for the sharing of profits through a registered savings plan.
    • Only a plan sponsor contributes to a DPSP.
    • No requirement for plan sponsors to contribute in years where there are no profits.
    • Complements your Group Registered Retirement Saving Plan (RRSP).
    • Tax-deferred for members and vesting rules are allowed.
  • What does a Defined Contribution Registered Pension Plan (RPP) offer?
    • Tax deductible contributions.
    • Plan sponsor and plan member contributions and investment earnings accumulate tax-deferred until they are withdrawn, subject to federal and provincial legislation.
    • Retirement income based on contributions and investment earnings.
    • Assets are generally locked-in and must be used to provide retirement income – a key consideration when deciding whether to choose an RPP or an RRSP.

 

Get in touch with Shayne at shayne@connollygroup.ca or Tim at tim@connollygroup.ca to discuss group retirement plan options to help meet your business needs.
The Connolly Group’s experience and commitment to client service makes them an invaluable resource when planning for your future and more importantly for the future of your family.  

– Mike Fitzpatrick,

CPA, Owner – Fitzpatrick & Company