Pooled registered pension plan (PRPP)
Canada-wide, affordable and quick to set up
Are you an employer or self-employed individual in Yukon, Northwest Territories or Nunavut, or a federally regulated employer in Canada? If you don’t already have a workplace savings plan, you can set up a Pooled Registered Pension Plan (PRPP) that
- Helps your plan members save for retirement
- Helps you attract and retain employees
- Is easy to set up and manage
- Lets you decide if you want to contribute to the plan or not
With a PRPP, we administer the plan for you. That means you have fewer fiduciary duties and obligations compared to other plans.
What is a PRPP?
It is a simplified Defined Contribution Registered Pension Plan. The PRPP is designed for small and medium-sized businesses (see Voluntary retirement savings plan (VRSP) for Quebec).
A Manulife PRPP is simple to set up and administer:
• Complete the online application in as little as 20 minutes—there’s no paperwork
• Decide if you want to contribute to the plan, how much and how often
• Plan members can take advantage of low investment management fees
• Maximize participation with automatic enrolment as soon as employees are eligible
• Work with an experienced and trusted Canadian provider of group retirement solutions for employers
• Integrate your PRPP with a payroll provider.
Choose your group retirement plan
Speak to your Manulife representative to discuss group retirement plan options to help meet your business needs.