This new category of workplace savings plans offers a unique opportunity for advisors. PRPPs are specifically designed for advisors’ small business clients or prospects.

Being one of the first companies to receive approval by the Canada Revenue Agency and the Office of the Superintendent of Financial Institutions, Manulife’s federal PRPP are available for advisors to offer to any businesses that are federally regulated OR are located in the Northwest Territories, Nunavut or the Yukon.

PRPP eApplication

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Unique features in Manulife’s  PRPP increases the benefit to you, your small- to medium-sized business clients and their employees.

Manulife offers your clients unique PRPP features to make it fast, simple and a benefit to their business.

Easy set up with our eApplication designed to take as few as 20 minutes to complete with an electronic acceptance of the contract.

Manulife will monitor employee eligibility and automatically enroll and mail the employee an Employee Notification Package. The package will outline the steps that need to be completed to get started with Manulife.

Manulife will automatically enroll eligible employees into the plan and mail an Employee Notification Package to each of them.

On behalf of the employer, Manulife will manage the collection of employee instructions when choosing to not participate in the plan.

Manulife collects and reports all employee contribution rate instructions to the employer on a monthly basis.

Employees can easily provide contribution rate instructions to Manulife online, via Manulife’s secure site.

Manulife offers investment flexibility and choice, combined with Manulife’s iWatch fund-monitoring program.

The iWatch team identifies funds and fund managers that have long-term potential to:

  • deliver strong results through a variety of market cycles, and
  • adhere to their investment mandate.

Manulife offers employers several flexible formula contribution options if they choose to contribute:

  • match a percentage of employee contributions (25, 50, 75 or 100%) up to an annual maximum per employee
  • set amount (percentage or dollar amount) per employee
  • at employer’s discretion

The employer can change their contribution formula at any time upon providing notice to their employees. No fee charged.

Employers can send contributions to Manulife monthly, twice a month or every two weeks using our easy online process.

Employees can view their total contributions and employer contributions on both their statements and through the secure website.

Employees can leave their savings in the PRPP and continue to receive the same services, fees and investment options they had with their employer’s plan.

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