iTel Group Retirement Plan
The retirement plan is designed to:
- Help our staff save for retirement in a cost effective manner
- Meet or exceed plans for those who compete for the same talent
- Align with iTel values
Plan details
| Plan | Details |
|---|---|
| Eligibility | Full-time employees (minimum 24 hours per week) following 3 months of employment |
| Participation | Voluntary |
| Regular contribution | You can contribute any percentage of your basic earnings, but it is your responsibility to stay within CRA limites |
| Employer contribution | iTel Networks does not contribute to the group RRSP |
| Voluntary contribution | Permitted |
| Lump sums | Permitted |
| Investment instructions | Each member will choose their investment allocation |
| Default fund | Continuum Target Date Fund |
| Withdrawal rules | Withdrawals are permitted for CRA’s Home Buyers* and Lifelong Learning Plans* CRA’s Home Buyers: this program allows you to withdraw funds from your RRSP to buy or build a home for yourself or for a related person with a disability. The HBP allows you to pay back the withdrawn funds within a 15 year period. Lifelong Learning Plan: allows you to withdraw up to $10,000 in a calendar year from your RRSP to finance full-tome training or education for you or your spouse/common law partner. |
| Spousal RRSP | Yes |
Resources
Questions? Contact your Acera Benefits Advisor
Genevieve Kelln, Acera Benefits
Phone 250.869.3995
Email genevieve.kelln@acera.ca