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Group Retirement Plan (RRSP)

(Division 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.

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.

As of March 31st, 2021, it will be mandatory for your employer, upon hiring you, to have you complete the registration form for the retirement plan and to forward it to us.

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. However, if you have never completed a registration form, you must contact your employer in order to complete one. The Plan identification code is 15383CM001TP.

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.