Skip to content
  • 519-631-4724
  • [email protected]
Main Menu
  • Home
  • About
  • Services
  • Resources
  • Blog
  • Contact
  • Client Login

Group RRSPs

/ Investment Account Types, Financial Orientation

The next section of the Action Financial Group Orientation Series will deal with Investment Account Types.

An account is not an investment; it is a container that holds one or more investments. Different containers have different features such as size, shape or colour, one hole in the bottom or none, a lid or no lid; different accounts have different features too, such as tax treatment, size limitations, or rules about contributions and withdrawals. Not all accounts are suitable at different life stages or circumstances and it’s always best to seek advice.

Group Registered Retirement Saving Plans

A Group RRSP is much like a regular individual RRSP, but it is administered by an employer. It is a very flexible plan in that contributions can be made by the employer and/or the employee. Some employers offer to match the contribution by the employee up to certain limits, or in proportion to the employee’s contributions. The match could be 1:1, meaning for every dollar the employee contributes the employer will also contribute $1. Or it can be more or less than that ratio. The employee’s contribution is done by payroll deduction and contributed directly to the RRSP plan. Investments can be selected by the employee based on their own timeline and risk tolerance, from a selection of available investment options from the plan administrator. Contributions by the employee are tax deductible the same as individual RRSP contributions, and are limited by the individual RRSP limits. When an employer offers a Group RRSP, it is important to understand the plan details in order to take maximum advantage of it. Professional financial advice can help to accomplish this.

We hope you will find this information valuable and will increase your financial confidence. You can always find these articles on our website www.actionfinancialgroup.com.

Karin Rimnyak, Certified Financial Planner®

Investment Advisor



David Dryburgh, Certified Financial Planner­®
Investment Advisor


Ian Barrie, Certified Financial Planner®
Investment Advisor


This information has been prepared by Karin Rimnyak who is an investment Advisor for iA Private Wealth. Opinions expressed in this email are those of the Investment Advisor only and do not necessarily reflect those of iA Private Wealth. iA private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. iA Private Wealth is a trademark and business name under which iA Private Wealth Inc. operates.

Post navigation
← Previous Post
Next Post →
Action Financial Group, iA Private Wealth offers a wealth of services, including professional advice and assistance with financial planning and wealth management.
Read more
client login

Contact Us

  • 1 Silver Street Suite 120
    St. Thomas, ON N5P 4L8
  • 150 Main Street, Lower Level
    Ailsa Craig, ON N0M 1A0
  • 519-631-4724
  • [email protected]
  • Monday to Friday: 8:30 a.m. – 5:00 p.m.

Explore

  • Home
  • About Us
  • Services
  • Resources
  • Blog
  • Contact Us

© 2021 Action Financial Group, iA Private Wealth | Privacy Policy

iA Private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. iA Private Wealth is a trademark and a business name under which iA Private Wealth Inc. operates.

This is not an official website or publication of iA Private Wealth and the information and opinions contained herein do not necessarily reflect the opinion of iA Private Wealth. The particulars contained on this website were obtained from various sources which are believed to be reliable, but no representation or warranty, express or implied, is made by iA Private Wealth, its affiliates, employees, agents or any other person as to its accuracy, completeness or correctness. Furthermore, this website is provided for information purposes only and is not construed as an offer or solicitation for the sale or purchase of securities. The information contained herein may not apply to all types of investors. The Investment Advisor can open accounts only in the provinces where they are registered.

Insurance products and services are offered through Action Financial Group Ltd., an independent and separate company from iA Private Wealth Inc. Only services offered through iA Private Wealth Inc. are covered by the Canadian Investor Protection Fund.