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> Our Products > > Our federal PRPP Solution

Our federal PRPP Solution

iA Financial Group is all about keeping it simple. We want to avoid any administrative burden for employers and allow them to set up a federal PRPP quickly and easily.

We also want to help individual savers by giving them investment options that ease their decision-making process.

Our federal PRPP is:

  • Simple to set up
  • Easy to administer
  • Accessible to everyone

Our federal PRPP investment options

What sets our PRPP apart is its investment options, which have been carefully selected from a broad range of options available to our Group Savings and Retirement clients.

Default investment option

To make the decision-making easy for plan members, iA Financial Group has choosen the SimpliciA Portfolio (with a retirement age of 65) as the default investment option.

For plan members who don't indicate their own investment instructions, the contributions made in their name will be invested in the SimpliciA Portfolio with an assumed retirement age of 65.

The SimpliciA Portfolio is made up of investment funds managed by multiple fund managers. Changes in the investment mix over time is based on a "life cycle" approach where the level of risk gradually decreases as the plan member gets closer to 65.

Other investment options

PRPP members can choose to invest their contributions in the SimpliciA Portfolio, which is the default investment option, or in one of the following investment options:

Each investment fund is matched with a benchmark index. This index is similar to the fund in terms of investment structure and can be used to objectively evaluate the fund managers' performance. The Range of Investment Options document contains the benchmark indices' historical returns for each fund. This document also explains the indices associated with each investment fund.

See the level of risk and the name and explanation of the benchmark index for each fund and portfolio.

Our federal PRPP fees

Investment fund management, operating and distribution fees

The investment fund management, operating and distribution fees, including taxes, are deducted directly from the investment funds.

The following are the fees in effect on Octobre 8, 2014. Please note that these fees are subject to change.

Default option: SimpliciA Portfolio

Fees are between 1.06% and 1.08% (before taxes) based on the year before and after the assumed retirement age. A breakdown of the fees can be found in the Détails de l’option de placement par défaut – Portefeuille SimpliciA.

Other investment options

Investment fund Fund manager Total annual fees before taxes
Bond Industrial Alliance 1.00%
Balanced Moderate Index (BlackRock) BlackRock Inc. 0.90%
Dividend Industrial Alliance 1.00%
Global Equity Industrial Alliance 1.00%

No management fees are charged on guaranteed investments.

Member transaction fees

When certain transactions or procedures are carried out, the following transaction fees plus applicable provincial taxes are deducted directly from the member's account.

Transaction Fees before taxes
Execution of partition of benefits between spouses following the breakdown of a de facto (common law) relationship, marriage or separation $50 deducted from the plan member's account

$50 applied against the share of the plan member's former spouse
Any other withdrawals, repayments or transfers (except for certain internal transfers) $70
Fees may be charged for frequent fund-to-fund transactions (sale or transfer of units within 60 days following purchase) Fees equal to 2% of the value of the transferred amount
Unsuccessful search for a member's contact information (these fees depend on the research agency used) Between $10 and $80>/strong>
NSF cheque or payment $30

Any fees charged by government regulatory bodies will be deducted from the plan member's account in proportion to the assets held in the account.

Fees for additional services requested by the plan member

  • Copy requests: $.25 per page for each paper or digitized copy and $5 for each document resent electronically
  • Payment or cheque cancellation and reissue: $30

Our federal PRPP overview

The overview of plan provisions sums up the main features of our federal PRPP.

See an example of the Plan Overview for Employees

See an example of the Plan Overview for Self-Employed Workers

Our federal PRPP transfer solution

Upon termination of their membership in the federal PRPP, plan members receive a statement containing a summary and a detailed description of the options available to them and the fees associated with each option.

See the relevé de choix d'options

Plan members can also keep the savings accumulated in their PRPP and continue contributing to it, even if they stop working for the employer that offered the plan.

Federal PRPP administrator information

iA Financial Group (Industrial Alliance Insurance and Financial Services Inc.) has registered a federal PRPP, which it administers. The government registration numbers for our PRPP are as follows:

Canada Revenue Agency (CRA): PRPP 0003

Office of the Superintendant of Financial Institutions (OSFI): 70011

OSFI administrator license: L13002

You can obtain documentation or information on the federal PRPP by contacting our Customer Service Department directly at 1-855-823-7837.

You can also obtain the details of any PRPP transactions, including the fees, withdrawals or other related expenses, by submitting a request to our Customer Service Department.

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