What are the benefits to my company for offering a Group RRSP?

Besides doing the right thing? There are many benefits. Let’s talk about our top three:

1) Helps attract top talent
Today's prospective employees look at more than just salary when considering job offers. Offering a Group RRSP conveys that your company genuinely cares about its employees' well-being, which can tip the scales for people considering multiple employment offers.

2) Increases retention for existing employees
If you demonstrate investment in an employee's life outside of work by helping them prepare for retirement and other long-term savings, you're more likely to retain your existing talent for longer. Financial wellness benefits tend to foster loyalty among a workforce, which means a Group RRSP is a win-win way to reward employees for their hard work.

3) Helps employees save more for retirement or new home purchases
Corporate matching plans multiply employee contributions, helping them save more over the long term. Not only that, since employee contributions are automatically deducted from their payroll deposits, employees save with each paycheque because it goes directly to their Group RRSP. No manual deposits or emails to the group administrator required. More than retirement, employees looking to purchase a house can leverage some of these funds as part of the Home Buyers' Plan in Canada.

Offerings like Wealthsimple Work can also help you support diversity and inclusion efforts with options that tie into what matters most to employees, including Socially Responsible (SRI) and Halal portfolios.