Types of group retirement and savings plans
Registered pension plan (RPP) An RPP is set up by an employer to provide retirement income to employees. The plan is registered with the Canada Revenue Agency (CRA) to provide tax advantages. Contributions made to an RPP are tax-deductible within certain limits. Investment income isn’t taxed until it’s paid out of the plan. The employer is required to contribute to an RPP and the employees may or may not be required to contribute. There are two types of RPPs: defined… Read More »Types of group retirement and savings plans