Setting up a group TFSA offers your plan members a tax-free investment option to help grow their savings, with no tax on withdrawals. Plan members can use it to save for big expenses like a new vehicle, vacations and home improvements, as well as supplementing retirement savings or whatever else they may be planning.
It has no legislative requirement for plan sponsors to contribute. It complements your Registered Pension Plan (RPP) or group Registered Retirement Savings Plan (RRSP). It provides plan members with an option to consolidate their savings, subject to contribution limits
Speak to your Manulife representative to discuss group retirement plan options to help meet your business needs.
What to consider when you’re choosing a group plan to meet the needs of your business and your employees.
Holistic retirement readiness involves health and financial wellness.
Read on the 4 key ingredients group plans can offer to help employees feel more confident as they near retirement.
