Group RRSP

Merit Contractors Association sponsors a corporate group Retirement Savings Plan for the benefit of all members and their employees, both hourly and salaried. Offered through Royal Trust, this program offers your employees a means to save money tax free, and offers returns in excess of those available through traditional pension plans.

This is a voluntary plan. Employers, as members of our Association, are encouraged to offer the option of participating to all employees.

Key points
Monies are deposited into an employee's account. Retirement benefits are a total of the monies deposited and dividend and/or interest accumulated.

Deductions from paycheques are made by the contractors. In addition, employees have the option to "top up" their accounts.

Transfers are permitted from other RSP or pension accounts that the individual may already have.

Each employee is responsible for his/her own investment decisions. Options for investment of RSP monies include a money market fund, stock market fund, bond fund, and balanced fund, as well as Guaranteed Investment Certificates (GIC) at varying terms. GIC deposits are protected by Canada Deposit Insurance.

The plan is fully portable. Thus, if an employee works for more than one company in a year, deposits can be made to a single account as long as all employers are members of the Merit Contractors Association.

Sessions are held from time to time to explain investment options and retirement planning to employees and their spouses. Reports will be sent to employees and employers on a regular basis concerning performances of the fund, economic information, etc.

Individual employee participants have immediate vesting rights. Employees wishing to cash out all or portions of their account may simply notify Royal Trust.

Group RRSP
Gillian Cockerill,
Manager - Manitoba and Saskatchewan
RBC Financial Group
(204) 988-4485  toll-free 1-888-988-7701
gillian.cockerill@rbc.com

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