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Employees voluntary contribution to RRSP...

November 2011

Since November 9th, 2011, employees have the right to contribute towards their RRSP plan on a voluntary basis.

The Parity Committee is the organization that is in charge of managing the Group retirement plan for all employees in the industry, including the voluntary contributions. As for Industrial Alliance (INALCO), they are the new Trustee in charge of the plan as of July 4th, 2014.

Attention! Employees who want to start contributing towards their RRSP plan must have already sent in their registration form. If the employee already has an open account at the SSQ (the former Trustee) or INALCO,  it is not necessary to fill out a new form. However, if the employee has not yet submitted a form, then it is important that the form be completed as soon as possible, in order to open his account.

The registration form can be filled online by the employee at inalco.com, by clicking on Online Enrolment - Group Savings and Retirement. The identification code of the Plan is 15383CM001TP. This may also be done by phone: 1 800 567-5670.

Please read the information below, on how to proceed regarding voluntary contributions.

1. Authorization form for payroll deduction

In order to deduct sums of money on an employees' paycheck, employers need to have the employee's authorization. The employee must sign such authorization which is kept by the employer in the employee's folder.

Please click on the following link to download a template of an authorization letter that you can use: Authorization form.

2. Voluntary contributions list

Employers must send all voluntary contribution payments along with a document that should list all the information below:

  1. Name of the employer and no with the Parity Committee
  2. Identification of the employee: Name, First name and SIN
  3. Amount of the voluntary contribution per employee
  4. Total for all employees

We ask employers to use the following links to download the required model of such form: Voluntary contribution list (to complete on your computer before printing) or Voluntary contribution list (to print out, fill and send).

Employers who still wish to use another form to send us the payment for the voluntary contributions must make sure that their form includes all the above required information.

3. Payment of the voluntary contributions

The payment for these contributions will need to be made on a separate cheque.

The employer who sends us a monthly payment for voluntary contributions will have to send 2 cheques. One for his monthly report, including the 1% levy and the RRSP contributions (paid by the employer), and another cheque as the payment of the contributions made on a voluntary basis. 

Attention! Please note that in the event that a payment is sent on the same cheque as the levy and the RRSP (payment made by the employer), the cheque will be cashed. However, the amount listed for the voluntary contribution, will be kept in the employer's account as a credit. The employer will need to send a new cheque covering only the payment for the voluntary contributions.

Please contact us for any question regarding the Group retirement plan.

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