Group Retirement Programs

Registered retirement savings plans (RRSP) have the flexibility for unrestricted withdrawal at any time, subject to withholding tax which may require increases with the amount withdrawn.

A tax-free savings account (TFSA) has been established through the federal  and provincial government to assist with saving for Canadians. Deposits in these accounts are not taxed on any income or growth earned, withdrawals are also tax-free. 

A deferred profit sharing plan (DPSP) is a retirement savings vehicle that permits employers to distribute some of the company's profits to a plan for the benefit of some or all employees. Only the employer contributes and the conditions set forth by the employer ca be very flexible.

Defined Benefit pension plans (DBPP) is considered the gold standard of retirement pensions as it pays an income on retirement that is known in advance, The plan sponsor chooses the investment that will produce the promised outcomes. 

Defined contribution pension plans (DCPP). The employer makes no commitment to the amount of pension that will be received and the plan member decides how to invest the contributions from a menu provided with default options