A group retirement plan is a savings vehicle that provides benefits to members of a group by accumulating funds to provide an income after retirement.
Typically, group retirement plans accumulate funds using:
After retirement, income is provided by:
Group retirement plans are usually registered under the Income Tax Act (Canada) as Registered Retirement Savings Plans (RRSPs), or Registered Pension Plans (RPPs).
Registered pension plans may be either defined contribution plans or defined benefit plans.
If your group retirement plan is invested in an accumulation annuity, click here to see how Assuris protection is applied.
If your group retirement plan is invested in a segregated fund policy, click here to see how Assuris protection is applied.