Benefits of the federal PRPP

Easy to set up

Limited responsability

The plan is administered by iA Financial Group.

Flexible

The employer chooses whether or not to contribute and determines the contribution rate.

Tax savings

Employer contributions are exempt from payroll taxes and are tax deductible.

Universal

The investment options available, the default investment instructions and the fees are the same for all PRPP members.

Accessible

Automatic enrolment by the employer for all eligible full-time employees and for eligible part-time employees who have completed at least 24 months of continuous service. Employees don't need to do a thing.

Simple

There are five investment options and one default option based on a "life cycle" approach, which offers a pre-built solution based on the plan member's age.

Low cost

A very affordable solution for plan members.

Pooling

The ability to pool their funds with others and benefit from the advantages offered by group plans, which are generally loss costly than individual plans.

Tax savings

PRPP contributions are tax deductible and are non-taxable until they're withdrawn.

Simple

There are five investment options and one default option based on a "life cycle" approach, which offers a pre-built solution based on the plan member's age.