Industry leaders understand the importance of building and maintaining a strong team. They understand that one of the biggest challenges affecting organizations and their bottom line is recruitment and turnover of staff.

RBC Group Financial Services delivers group savings plans as part of a solution for building and retaining a healthy workforce.

About RBC Group Financial Services

RBC Group Financial Services (GFS) administers over 4,000 group savings plans in Canada for businesses and organizations of all sizes, in all major industries and across the private and public sectors. We manage more than $2 billion in assets for more than 150,000 employees enrolled in these plans.

These plans allow employees to contribute to an investment or registered savings account directly from their payroll. Many employers also choose to offer matching programs to increase the benefit of their plan and further help employees save for retirement, buy a home or plan for a once-in-a-lifetime vacation.

The Plan Options We Offer

Royal Choices Group Retirement Savings Plan (Group RSP)

Group RSPs allow you to contribute to your members' RSP accounts using pre-tax payroll dollars. By using pre-tax payroll dollars, withholding taxes are not deducted on contributions made to the RSP account. This provides your employees with the benefits of contributing to an RSP without having to wait for a tax refund to take advantage of the tax savings.

At your discretion, your business can match contributions towards this option on behalf of your employees. The contributions are deductible as a salary expense and are subject to payroll taxes and premiums, including the Canada Pension Plan, Quebec Pension Plan, Employment Insurance and health care taxes. This is an ideal way to enhance the benefits your employees receive.

Royal Choices Group Investment Account (GIA)

Similar to our Royal Choices Group RSP, our Royal Choices GIA is a non-registered savings plan that allows your employees to augment their retirement savings or invest for other goals like buying a house, car or planning a dream vacation.

Deferred Profit Sharing Plan (DPSP)

A Deferred Profit Sharing Plan (DPSP) gives employees a healthy incentive for staying with the firm. DPSPs give companies the opportunity to transfer some of their pre-tax profits to their employees. Contributions made by the employer to a DPSP are not subject to payroll related charges, such as CPP deductions, Workers' Compensation, Employment Insurance premiums, or health-tax levies.

The RBC Advantage

By choosing RBC, your organization benefits from:

• An unmatched level of flexibility and choice for employees
• No cost setup for group savings plans
• Total control over which plans are offered and the level of contribution matching available
• Dedicated regional support
• Toll-free telephone access to our Expert Advice Centre
• Seamless processing of employee contributions with multiple contribution remittance options
• Enrollment and education seminars provided at your request

Your Next Step

If you wish to contact us for a no-cost, no-obligation analysis of how your organization can benefit from the unique group plans offered by Canada's premier banking, investment, and financial services organization, you can submit the On-Line Info Request Form or call us at 1-800-835-3855.