Group Savings and Investments
As one of Prince Edward Island’s largest pension plan and group savings plan advisors, Lambe & Associates Inc. is dedicated to helping you and your employees save for a better retirement.
We are also here to help with any administrative duties associated with running a pension or group savings plan.
Registered Retirement Savings Plans
A Group Registered Retirement Savings Plan or Group RRSP helps members save for retirement by deferring income tax on their contributions and savings growth.
Employer and employee contributions made on the employee’s behalf are deducted from their taxable income. Any income earned within an RRSP is not taxed until the money is withdrawn.
Similarly, as with RPPs, members of Group RRSPs can take advantage of lower investment management fees, diversified funds, and have access to the Lambe & Associates Inc. team of advisors.
Registered Pension Plans
A Registered Pension Plan or RPP is a tax-deferred savings vehicle that allows contributions to grow tax-free for use in retirement at a later date.
A Group RPP is designed to attract and retain employees by providing them with a company-sponsored savings plan. An RPP also has the advantage of lower investment management fees than those of individual investment accounts.
Deferred Profit Sharing Plans
As an added bonus, the annual contributions to the DPSP are tax-deductible for the employee and employees do not pay tax on contributions made on their behalf. Employees do not contribute. Contributions and earnings accrued within the plan accumulate tax-free while within the plan.