Immix Group - Group Savings Products

Group Savings Products

Attract, Retain, & Reward Employees with a Group Savings Plan!

A valuable complement to an employee group life and health insurance program is a Group Savings plan! A Group Savings Plan is set up by an employer to help employees with saving and investing for retirement. 

While most are set up as Registered Retirement Savings Plans (RRSPs), often in combination with DPSPs for Employer contributions, Registered Pension Plans (RPPs) are still the right fit for certain companies.

group savings plan
An employer-sponsored savings plan is a great way for employees to save for the future!


Purpose of a Group Savings Plan

  • Assist employees in systematic saving 
  • Facilitate tax-advantaged savings
  • Provide lower than retail fund fees
  • Provide access to professional advice
  • Potentially supplement savings with employer contributions
  • Help retain and attract employees
  • Competitive option for smaller businesses
  • Assist and reward employees

Group Savings Products


Group RRSP

Just like a regular individual RRSP, the money in a Group RRSP is tax-deferred and intended for retirement. The main advantages are:

Entirely voluntary enrolment
Employer matching is available, but not required
Payroll deduction of contributions means immediate tax advantages
Access to lower-than-retail investment fund fees
Very low administrative involvement for employers
Employer contributions to a Group RRSP are deductible as a salary expense to the employer, but are taxable as income on the employees T4.


Group RPP

Registered Pension Plans:

Mostly set up as Defined-Contribution plans today, Registered Pension plans are subject to more rules and restrictions than other registered groups savings products. Employer contributions are a deductible expense, and member contributions are tax deductible.

Employers are required to contribute a minimum amount, and rules typically dictate certain required contributions by members. Vesting is not permitted.



Group TFSA

Tax Free Savings Accounts:

While a TFSA does not provide the same tax advantages as a RRSP, employees benefit through a consistent and systematic savings plan, and access to lower investment fees. Contributions and investment returns grow on a tax-free basis.




Group DPSP

Deferred Profit Sharing Plan:

A Deferred Profit Sharing Plan is an employer- sponsored registered plan, and is often established in conjunction with a Group RRSP. The purpose of a DPSP is to share profits with employees; contributions can be calculated based on profits or a percentage of employee salaries. Only Employers contribute to DPSPs.

In contrast to employer contributions under a RRSP, a DPSP offers:

More control than under a Group RRSP, including opportunity to include vesting provisions
Contributions are tax-deductible and do not generate payroll tax


Affordable and innovatively structured benefit programs that help our clients find, retain and reward valuable employees