Advantages of the Pooled Registered Pension Plan (PRPP)
Save a little today…enjoy more tomorrow
The best savings plans have three components:
- Government programs like the Canada Pension Plan
- Personal savings
- Workplace savings programs
While workplace savings plans are a great way to save, unfortunately the majority of people, especially those working in small to medium-sized businesses, don't have access to them. In fact, only four out of 10 Canadians have a workplace savings plan1.
A plan just for you!
New workplace savings plan for employees of small and medium-sized companies
With the passing of Bill C-25, the Pooled Registered Pension Plans (PRPP) Act, Canada is taking great steps to ensure all employees have access to workplace retirement savings plans. To be designed with simplicity in mind, the new plan will make it easy and straightforward for all employees to save for their retirement.
Sit back and watch your savings grow
By contributing a small percentage of each pay, you'll save a little each month and that can grow to a sizable nest egg over the long-term. Your contributions will be invested in a larger pool of funds to take advantage of efficiencies of scale, resulting in lower fees than if you were to invest on your own. You'll be amazed at how much you can accumulate through this disciplined approach to savings. Workplace savings programs work!
How much money will you need when you stop working?
Use our simple calculators to help determine if your current savings will allow you to enjoy the lifestyle you want in the future, and how much you'll need to save to reach your goals.