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Group RRSP and TFSA


What does a Co-operators Group RRSP / TFSA offer?

As the Canadian population ages, saving for retirement has become more important. Together with the Co-operators, ASSOCIUM GAIN offers a simple and effective way for organizations of any size to support their employees. Encourage employees to save for their future with a Group Registered Retirement Savings Plans (RRSP) and Tax Free Savings Accounts (TFSA).

What are the benefits for ASSOCIUM GAIN members?

Employees enrolled in this plan have no administration fees, low management fees and a wide range of investment options under one plan.

GAIN members have access to an online account management tools, allowing both members and plan sponsors to verify contributions, transfer funds and access investment information. It’s easy to manage your group retirement plan online, change investments according to  investment style, and be secure in the knowledge that a leading Canadian co-operative company manages your group retirement plan.

Everyone benefits with a Group TFSA

Many Canadians are finding it increasingly difficult to put money aside for retirement or other long-term savings goals. Fortunately, there is a simple, pain-free alternative. A Group TFSA with The Co-operators can make life a lot easier for both you and your employees.

Advantages for your company

  • Available as a new savings plan or as an add-on to an existing plan at no additional cost
  • Employer contributions are a deductible expense in the year of contribution
  • Simple administration – everything is done through payroll deduction and reported online

Advantages for your employees

  • Annual contribution limit is $6,000 no matter how much is contributed to an RRSP.
  • Contribution limit is indexed to inflation, in increments of $500.
  • Unused contribution room can be carried forward indefinitely for greater growth potential.
  • Does not affect eligibility for federal plans (Old Age Security and Guaranteed Income Supplement).
  • Withdrawals can be made at any time, tax-free. Amounts withdrawn generate new contribution room for the following year.
  • Contributions aren’t tax-deductible but investment income and amounts withdrawn are not taxable.
  • Employees have online access to all accounts through a single account and log-on.
  • Payroll deductions make it easy to save.

What is the difference between an RRSP and TFSA?

Both TFSAs and RRSPs can ease your tax burden and help your money grow. Your choice depends on factors like your reason for saving, your time horizon, and your current and future tax rates. The differences between the two accounts are outlined here, so you can be sure that your hard-earned money is working equally hard to meet your financial goals.

Go with a Group leader

With a Group RRSP and TFSA offered and administered by The Co-operators, you benefit from the experience and expertise of a leading group savings program provider.

From The Co-operators, you can expect:

  • Reliable implementation and administration
  • Accuracy and timeliness of our record-keeping services
  • Professional investment management of your employees’ assets
  • Convenient access to ongoing account and fund information
  • Ongoing and reliable support from dedicated and knowledgeable staff

The Co-operators is Canadian owned and operated, serving over 2 million people nationwide.

Important RRSP Facts

How much can I contribute?
Check your latest Notice of Assessment (NOA) from CRA. The amount is your unused deduction room at the end of the preceding year combined with 18% of your earned income in the previous year or the annual RRSP limit (for 2022, the annual limit is $29,210). Details on Canada.ca.

Let’s connect to find out how ASSOCIUM can help your organization with employee benefits, human resources consulting and group purchasing solutions.

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