Group retirement made straightforward.
Group RRSP and DPSP plans, with RiskX coordinating setup, employee education and ongoing reviews.
Your setup, in three stages
Choose the design
Set eligibility and employer contributions.
Prepare for payroll
Coordinate setup and employee enrolment.
Review the plan
Review fees, service and employee education.
Setting up a group RRSP for a 20- to 200-person employer averages 8 to 10 weeks, and larger plans take longer. RiskX helps choose the plan structure and match and coordinates the setup; enrolment is digital, run by the registered investment provider in virtual sessions. RiskX runs the annual reviews. The process is managed without forcing HR through a rushed implementation.
RiskX is a Canadian independent employee-benefits and group-retirement brokerage, founded in 1994, serving group retirement employers across Canada outside Quebec, with health and dental licensing in Alberta and Ontario.
Last updated: August 2026
Why employers add one
- A visible employer contribution to long-term savings
- Starts small - plans work from a 1% employer match
- Payroll integration, with clear responsibilities for your team
C.D. Howe estimates that about 1 in 5 Canadian businesses with 5–499 employees offer a workplace retirement plan.
Group retirement resources
Find practical answers about choosing, reviewing and understanding your workplace retirement plan.
Choose a plan
Review or change your plan
Understand costs and responsibilities
Money stress doesn't stay home. It shows up at work.
For most of your team, money is the biggest weight they carry. In FP Canada's 2026 index, 43% of Canadians named money as their greatest source of stress - ahead of health, relationships, and work. And retirement can feel so far out of reach they stop trying.
Financial stress quietly drains focus and morale. Over half of workers spend 15+ minutes a day distracted by money worries on the job - and financial stress costs an estimated $69.5 billion a year in lost productivity across Canada.
Unaddressed, that stress becomes turnover. People leave for employers who seem to care about their future - and replacing them is expensive (more on that below).
"Money stress doesn't stay home. It shows up at work."
Financial stress and burnout are deeply linked - see how we support mental health →
Sources: FP Canada, Financial Stress Index (2026); National Payroll Institute (2025).
You've been told it's expensive and complicated. It's neither.
“It'll cost too much.”
A plan can start at a 1% employer match - and scale from there, even rewarding longer-tenured employees more if you want. Employer contributions are tax-deductible, and you're already paying into CPP; this is an incremental, controllable benefit. Because replacing an employee runs 50-200% of their salary, even a small drop in turnover can offset the whole cost.
“It'll be a huge admin headache.”
RiskX coordinates setup and employee education with the provider. Your team supplies payroll information, approves decisions and retains oversight. Confirm the administration process and responsibilities for the selected plan.
We're the guide who makes this simple - and we're not tied to any one carrier.
We're an independent Canadian brokerage - 32 years and hundreds of businesses served, helping employers across the country build benefits their people actually value. Because we're independent, we recommend what fits you, not a carrier's quota. And with CAPSA guidance updated in 2024 for the first time in two decades - employers are now expected to review their plans - having a guide who knows them matters more than ever.
32
years in Canadian employee benefits
300+
Canadian businesses served
Independent
we work for you, not a carrier.
What does a modern group RRSP actually look like?
We coordinate setup and ongoing reviews of modern group RRSPs for small and mid-sized employers - with straightforward plan design, digital enrolment, and less day-to-day work for HR.
Start small, scale later
Begin at a 1% employer match and grow it when you're ready; you can even reward longer-tenured employees more.
Clear payroll responsibilities
Contributions flow through payroll. RiskX coordinates setup and education; your team supplies payroll inputs, approves decisions and retains plan oversight.
Built for phones
Review the selected provider's digital enrolment and account tools, along with the support available to employees.
Tax-smart
Employer contributions are tax-deductible, and contributions come straight off payroll. (A group TFSA can also be set up alongside the RRSP if it fits your team.)
"Won't my employees be overwhelmed choosing investments?"
Investment options and any default are determined with the registered investment provider. RiskX explains how the plan works and coordinates member education. Investment recommendations and questions about an employee's portfolio belong to the registered investment provider; the employer retains responsibility for overseeing the plan.
A good retirement plan should be easy to join and easy to understand. Enrolment is digital, run by the registered investment provider in virtual sessions, while we help HR keep administration simple.
The employer match is the main cost - and you control the design.
You choose the match percentage, who becomes eligible, whether different employee classes receive different terms, and whether the employer contribution goes directly into the group RRSP or through a DPSP with vesting. A plan can begin with a 1% match and grow when the budget allows.
What would a match cost us?
In a 2025 Ipsos survey of 1,981 Canadian workplace-plan members, 90 percent said they contribute enough to capture the full employer match. Those were members of one provider's plans rather than a cross-section of all Canadian employees, so treat it as context for the assumption, not a benchmark.
A group RRSP match is a taxable benefit and pensionable: employer CPP applies for employees whose earnings sit below the year's CPP maximums. A DPSP contribution is not a taxable benefit and attracts no CPP. EI does not apply to the match when the plan restricts withdrawals before retirement or termination, which is the standard design.
Illustrative annual employer cost
$229,500
- Employer match
- $229,500
- Employer CPP on the match
- $0
- Per participating employee, a year
- $3,400
- Per participating employee, a month
- $283
- Five years, no growth assumed
- $1,147,500
75 employees × 90% participation = 67.5 participating × $85,000 × 4% = $229,500. That is about 2.7 times one average salary ($229,500 ÷ $85,000).
Illustrative. Your payroll, design and province set the real number. Confirm the treatment of your own payroll with your accountant. CPP figures are for 2026. Provincial rates and thresholds are the current figures stated in the linked sources; BC's tiers apply from the 2024 return. Sources: Government of Ontario, Employer Health Tax - Remuneration; Canada Revenue Agency, CPP contribution rates, maximums and exemptions; Canada Revenue Agency, CPP2 contribution rates and maximums; CRA employers' guide to taxable benefits (T4130) for the treatment of employer RRSP contributions; Income Tax Act, section 147 for DPSP vesting and membership.
Want the arithmetic written out rather than a slider? What a group RRSP costs an employer with 50 employees works one example line by line, including the payroll-tax lines that change it.
Why many employers pair a group RRSP with a DPSP.
Employees can put their own payroll contributions into the group RRSP while the employer puts its match into a Deferred Profit Sharing Plan. That separation gives the employer more control over vesting and changes how the contribution is treated for payroll purposes.
Group RRSP contribution
Employer RRSP contributions are a taxable benefit and are generally subject to CPP. EI treatment depends on whether the employee can withdraw the contribution before retirement or leaving employment. The employee owns the contribution immediately.
CRA payroll guidanceDPSP contribution
Employer DPSP contributions are excluded from the employee's taxable employment benefit and can vest over a period of up to 24 months. Specified shareholders - generally people owning 10% or more - and certain related persons cannot participate, so an owner normally saves through the group RRSP instead.
Income Tax Act, section 147A group TFSA and a defined-contribution pension plan are the other two structures employers weigh up. Read the complete employer guide to Deferred Profit Sharing Plans. Compare all four row by row on contributions, taxable benefit, vesting, owner eligibility and admin burden.
Tax treatment depends on plan design and individual circumstances. RiskX coordinates the plan structure; employers should confirm payroll and tax treatment with their accountant or payroll professional.
Most plans take 8 to 10 weeks to implement.
RiskX manages the project without forcing your HR team through a rushed process. Timing can vary with payroll integration, plan decisions, data readiness, and enrolment, but 8 to 10 weeks is the average for a 20- to 200-person employer, and larger plans take longer.
An introductory meeting
We learn your goals, workforce, budget, payroll setup, and whether a group RRSP, DPSP, TFSA, or combination fits.
See the plan live
We show you the employee experience, matching options, investment approach, costs, and responsibilities before you decide.
RiskX coordinates setup
We coordinate setup and stay your named contact; enrolment is digital, run by the registered investment provider in virtual sessions, with payroll integration set up alongside it. We run the annual review.
A team that feels secure stays - and does better work.
In the HOOPP Canadian Retirement Survey, reported retirement confidence was 59% among those with a workplace plan versus 34% without. This is an association, not evidence that a plan causes lower turnover. Supporting retirement confidence and employee retention are goals to review against your own workforce experience.
83% of employers without retirement benefits assume employees would prefer more salary. But 63% of workers say they would choose the pension instead.
Source: HOOPP, 2024 Canadian Employer Pension Survey and 2024 Canadian Retirement Survey.
Sources: HOOPP Canadian Retirement Survey; SHRM and Gallup (employee replacement cost).
See how this fits into total rewards versus a benefits package and then build the five-step total rewards strategy.
See what reducing turnover is actually worth.
Your turnover is costing you about
$157,500/yr
Potential savings
$52,500/yr
If turnover changed from 18% to 12%, this would be the hypothetical saving. Compare it with the actual cost of the plan you are considering.
Illustrative only. Based on your inputs; the turnover scenario is an assumption, not a predicted plan outcome. All starting values are example assumptions; replace them with your own figures.
Setting up a group RRSP in Calgary, Edmonton, Red Deer, Lethbridge, Medicine Hat, London, Ontario, Ottawa, Kitchener-Waterloo, Mississauga, Guelph, Barrie, Kingston, Sarnia or Chatham-Kent? Western employers can also start in Winnipeg, Saskatoon, Regina, Vancouver, or Windsor.
RiskX sets up group retirement plans for employers across Canada outside Quebec, through the registered investment provider. Quebec is not covered yet, and we expect that to change. RiskX is a Calgary-based independent brokerage, licensed as an insurance brokerage in Alberta and Ontario. We guide plan design, coordinate implementation, support payroll and employee education, and conduct ongoing reviews. The selected platform handles accounts, contributions, records, and the employee app.
Alberta does not levy an employer health or payroll tax comparable to Ontario's Employer Health Tax. Federal payroll and tax rules still apply to employer contributions.
Provincial payroll-tax guides: Ontario EHT and group RRSP matching, BC EHT and group RRSP matching, and Manitoba HE Levy and group RRSP matching. The federal counterpart: whether a group RRSP match is a taxable benefit.
Group retirement questions employers ask us.
Is a group retirement plan too expensive or complicated for a smaller company?
It does not have to be. You control the employer match and can begin at 1%. RiskX coordinates plan design and setup and stays your named contact; enrolment is digital, run by the registered investment provider in virtual sessions. RiskX also handles ongoing reviews, with the employer retaining payroll and plan-oversight responsibilities.
How long does it take to set up a group RRSP?
Most implementations take 8 to 10 weeks on average for a 20- to 200-person employer, and larger plans take longer. Timing varies with plan decisions, payroll integration, data readiness, and enrolment. RiskX manages the process without forcing your HR team through a rushed launch.
How do employees learn to use the plan?
RiskX coordinates launch communication and employee education, including one-on-one support. Employees learn how matching works, how to enrol, how to choose an investment approach, and where to get help later.
What does a group RRSP cost an employer with 50 employees?
The main cost is the employer match. For example, 50 employees earning an average of $70,000 with a 3% match creates a maximum annual match of $105,000 if every employee contributes enough to receive the full match. Actual cost depends on eligibility, participation, eligible earnings, and employee contributions.
How does employer matching work in a group RRSP?
The employer sets a formula, such as matching employee contributions dollar-for-dollar up to 3% of eligible pay. Contributions are sent through payroll. The design can apply different eligibility rules or employee classes, subject to employment, tax, and human-rights requirements.
What percentage should an employer match?
There is no universal requirement. A plan can start at 1%, while 2% or 3% provides a larger incentive. The right match depends on budget, recruiting pressure, workforce needs, and whether the plan is intended mainly for basic savings or retention.
Is an employer group RRSP match a taxable benefit?
Yes. CRA treats employer RRSP contributions as a taxable benefit and generally requires CPP withholding. EI treatment depends on whether employees can withdraw the employer contribution before retirement or leaving employment. Confirm the final payroll treatment for your plan design. See the full employer tax treatment.
What does CRA say about employer group RRSP contributions?
CRA says employer RRSP contributions are generally taxable and reported on the employee's T4. Contributions are non-cash for EI purposes only when the employee cannot withdraw them before retirement or leaving employment; otherwise they are generally treated as cash benefits.
What is the minimum number of employees for a group RRSP?
Minimums vary by provider and plan design. Some arrangements can work for very small teams, but RiskX evaluates headcount, employee classes, payroll, budget, and expected participation before recommending a structure.
How much administration does a group retirement plan create for HR?
RiskX coordinates the setup and stays your named contact; the selected platform runs enrolment as virtual sessions and handles records, education, and ongoing support. HR usually maintains employee eligibility and sends contribution information through payroll. The exact workload depends on payroll integration and plan rules.
What rules and reporting responsibilities does the employer have?
The employer must apply eligibility and contribution rules consistently, maintain accurate payroll and employee information, remit contributions on schedule, communicate the plan, and oversee providers and member-borne fees. RiskX helps document responsibilities and supports ongoing CAPSA-aligned reviews.
What happens to employer contributions when an employee leaves?
Employer contributions made directly to a group RRSP belong to the employee. If the match is paid into a DPSP, it can be subject to vesting for up to 24 months; unvested amounts may be forfeited under the plan terms when an employee leaves.
Is the employer liable if the investments underperform?
Sponsoring a group plan does not mean guaranteeing investment returns. Employers do have governance responsibilities, including prudently selecting and monitoring service providers and investment options, communicating clearly, and reviewing fees and outcomes. RiskX supports that process; legal advice should be obtained for specific liability questions.
What is the difference between a group RRSP and an individual RRSP?
Both use an employee's RRSP contribution room. A group RRSP adds payroll deductions, employer matching if offered, group pricing, a selected investment menu, and workplace enrolment and education. An individual RRSP is opened and managed directly by the person.
What is the difference between a group RRSP and a PRPP?
A group RRSP is a collection of individual RRSP accounts arranged through an employer. A pooled registered pension plan is a regulated pension arrangement administered by a licensed provider. Contribution rules, employer obligations, access, and provincial availability differ, so the right structure depends on the workforce and province.
How is the broker paid on a group retirement plan?
Usually out of the investment management fee charged on members' accounts, which is why two plans quoting the same all-in fee can pay the advisor very different amounts. On group benefits it is normally a commission built into the premium. No regulator publishes a fair rate, so the thing to ask for is the amount in writing, in dollars, every year. How group benefits and group RRSP brokers are paid.
Prepared by RiskX
Written by Jarod Smith, CEO, RiskX Insurance Brokers Inc. Reviewed by Gordon Smith, RiskX Insurance Brokers Inc. Published August 18, 2026. Updated August 20, 2026.
Sources
FP Canada, 2026 Financial Stress Index; HOOPP, 2024 Canadian Employer Pension Survey; CRA, Contributions to savings and pension plans; Income Tax Act, section 6; Income Tax Act, section 147; and CAPSA Guideline No. 3. Tax and legal information is general, not individualized advice.
If you already offer a group retirement plan, you're now expected to review it.
CAPSA guidance calls for periodic review of plan fees and service, with sponsor responsibility remaining with the employer. Start by reviewing your current plan and asking about repricing. Before any move, confirm with both providers which matching, eligibility and contribution terms can carry across.
See if your plan needs a review