In this section:
Group RSP Plan
RETIREMENT SAVINGS PLAN OVERVIEW
Registered Retirement Savings Plan (RRSP), Policy # 57161002 - The purpose of the Plan is to provide Members & Permittees working under a NABET 700-M UNIFOR Collective Agreement an opportunity to participate in the Plan by required payroll deductions with the added incentive of a Producer match in contributions to the Plan.
Tax Free Savings Account (TFSA), Policy #41001002 - for those incorporated Members & Permitttees with lower taxable income causing an over-contribution for income tax purposes. Proof will be required by providing your Plan Administrator with a current Notice of Assessment indicating little or no RRSP room available and will be required to be updated annually.
Non Registered Savings Plan (NREG), Policy #40001002 - for those Members & Permittees whom are ineligible to participate in a RRSP due to age restrictions.
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RRSP HIGHLIGHTS |
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Plan Eligibility |
Any technician employed on a NABET 700-M UNIFOR production, pursuant to the NABET 700-M UNIFOR/CMPA Collective Agreement. |
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Vesting |
Immediate |
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Contributions: Plan Member
Contributions: Producer Match |
- Required to receive producer match - Percentage of earnings received under a NABET 700-M UNIFOR contract as per the NABET 700-M UNIFOR/CMPA Collective Agreement - Payroll deduction - You may transfer RRSP’s in - Additional Voluntary Contributions through payroll or on a lump sum basis - Spousal Contributions are allowed - Contribution maximum as prescribed in the Income Tax Act
- A percentage of gross compensation as specified in the NABET 700-M UNIFOR/CMPA Collective Agreement |
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Interfund Transfers |
First four transfers are free per year, thereafter a $25 transfer fee will be (Manulife charge) deducted from transfer amount for paper transactions. |
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Withdrawals: Plan Member
Withdrawals: Financial Hardship |
- Please call Manulife Financial directly at 1 (888) 767-7766; you will need your group policy no. and customer number to speak with a Client Services Representative. - Plan Member may withdraw the Plan Member portion of their account once per calendar year; an administration service fee of $100 will be charged by Manulife Financial and applicable withholding taxes will be deducted. - Additional Plan Member and the Producer portion is restricted unless Plan Member has terminated, retired, becomes disabled or deceased, Life Long Learning Program or Homebuyers Withdrawal Program or experiencing financial hardship.
- Financial Hardship is defined as risk of eviction from rented or owned home, requirement to secure a rental residence, medical treatment, residential renovations to accommodate special needs, and no income due to lack of work. Approval of plan administrator required and administration service fee and withholding taxes apply. Please call your Plan Administrator, Mary-Anne Rogers at Matheis Team Financial, (905) 837-2600. |
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Terminations |
If Plan Member is no longer affiliated with NABET 700-M UNIFOR your account will be terminated. |
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Administration Service Fee |
An Administration Service Fee of $100, will be charged by Manulife Financial for ALL withdrawals and at termination. |
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Investment Default |
RRSP - Retirement Date Fund 2025 |
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Investment Fund Choices |
Please contact your Plan Administrator for assistance and/or investment advice; or email any of the following at (905) 837-2600: Mary-Anne Rogers, mary-anne@matheisteam.com Talia Lane, talia@matheisteam.com Geoff Campbell, geoff@matheisteam.com Doug Lagasse, doug@matheisteam.com Michael Asadoorian, masadoorian@matheisteam.com |
Wide Range of Investment Options: Asset Allocation, Retirement Date and Index Funds American Stock Funds, Balanced Funds, Bond Funds, Canadian Equity Funds, Equity Growth Funds, Fixed Income Funds, Short Term Securities, International Equity Funds, International Bond Funds, Socially Responsible Funds |
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It is easy to plan, track and manage your retirement savings |
Call Manulife Financial at 1 (888) 727-7766 Website: www.manulife.ca / GRO, Email: gromail@manulife.com |
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In the event of a discrepancy, the Contract will prevail. |
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PDF Overview (PDF, 338 KB)