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Group Retirement Plan (RRSP)

YOU ARE A BUILDING SERVICE EMPLOYEE AND YOU HAVE NOT YET COMPLETED THE  RRSP REGISTRATION FORM? CLICK HERE TO LEARN HOW TO ENROL THE PLAN.

(Section 6.100 of the Decree)

The Parity Committee is in charge of managing a Group Retirement Plan (RRSP) for building service employees.

Based on the Plan, all contributions towards the group RRSP of an employee will be made directly by the employer.

As of October 30th, 2017, the employer's contribution to the Plan is set at $0.45 per paid hour.
There is no contribution rate increase provided by the Decree up to its termination on November 1st, 2024.

Paid hours include regular worked hours, overtime hours, holidays (worked or not), sick leave, etc. A vacation pay is the only payment on which contributions may not be applicable. The employer is required to list both the yearly and current cumulative for RRSP contributions on your pay slip.

As for the monthly report and levy, the employer's contribution to the RRSP has to be sent to the Parity Committee every month. The RRSP amounts received by the Parity Committee must be transferred to IA Financial Group who is responsible of managing the Plan. Prior to that, the employee must complete a registration form.

It is required to fill this registration form to activate your file and to transfer to IA Financial Group the RRSP contributions sent by your employer.

If you have already completed this form, no further action is required. If you did not complete a registration form yet, you must now complete it.

You can do it online at ia.ca/enrolnow, or by clicking on the following link: "Online Enrolment - Group Savings and Retirement" (go to bottom of the page to change language). The Plan identification code is 15383CM001TP. You may also enrol by phone at 1 800 567-5670.

When a sufficient amount of RRSP contributions is reached for you and the registration form is completed, then, your file is activated with IA Financial Group who will send you all information regarding the Plan.

Attention! Since November 9th, 2011, the employee may add a volunteer contribution toward the RRSP plan directly on the pay. To make all the necessary arrangements, the employee must give a written authorization to his employer stating the amount he wants to be deducted from the pay.

 

The employer will send to the Parity Committee this volunteer contribution with the other compulsory contributions for all employees, but he will have to distinguish it separately.