A group RRSP is a regular RRSP whose contributions are deducted at source by your employer and deposited in an account opened in your name.
Apart from periodic investments, the main advantage of a group RRSP is that it enables you to obtain income tax savings immediately and take advantage of market returns throughout the year.
By law, employers must offer a retirement savings plan to their employees, but the choice of plan is left entirely to the employer’s discretion: employers are not obliged to opt for a VRSP.
Businesses where a majority of the shareholders are engineers may opt for a FERIQUE group RRSP. It’s a simple, flexible, advantageous solution for employers and employees alike.