Skip to main content

Employee FAQs: Group RRSPs

Acera Insurance Group Retirement and Savings Advisors address some of the most common questions from employees about the Group RRSPs offered by their employers. 

Voluntary contributions to group RRSPs are additional contributions made by you to your RRSP account above the amount being matched by your employer.

Yes! When you leave, you will receive a Conversion Package that will give you three options:

  1. Leave your RRSP with the current provider and move to a personal plan.
  2. Transfer it to another registered retirement account.
  3. Cash it out (note that you will be taxed on the amount cashed as if it were regular income).
  • Withdrawals and transfers are not permitted for your regular/employer contributions while you are still with your current employer, while on disability leave or maternity/paternity leave.
  • Withdrawals are permitted for participation in the Home Buyers Plan or the Lifelong Learning Plan.
  • Withdrawals of your voluntary contribution are always permitted.

You can increase your contributions at any time, but you must wait until you have been with your employer for the prescribed amount of time before they will increase the percentage that will be matched.

  • You will pay lower Investment Management Fees.
  • Consolidating enables simplified tracking of all your investments.
  • When all in one place, it is easier to assess how your investments match your goals (and make changes as necessary).
  • Coordinating your RRSP contributions with future withdrawals, and identifying where you can leverage tax advantages, becomes much less complicated.
  • Employer/Employee Regular Contributions can only be withdrawn for the Home Buyers Plan and the Lifelong Learning Plan.
  • Voluntary Contributions can be withdrawn at anytime.



Your Acera Group Retirement and Pension Specialists are here to help with short and long-term strategies around the structure of your employee retirement and savings programs. 

Contact an Acera Insurance advisor for more information.