Non-Registered Savings Program

Non-registered savings programs can be used for short-term and/or long term financial goals as well as supplemental retirement income. Employers will usually offer a non-registered savings plan to accommodate “excess” employee contributions, contributions above CRA limits to registered pension plans.

Who is eligible?

  • Eligibility is usually determined by the plan sponsor

What are typical contributions to a NRSP? Are there contribution limits?

  • Both employer and employee are eligible to contribute however the employer has control over the contribution levels.
  • There are no limits to how much can be invested in a Non-registered savings program

Who is responsible for the investments?

  • Employees may choose any of the investments in the plan, however the employer selects the investments available

Are there any withdrawal restrictions?

  • Any withdrawals are determined in the provisions in each plan, employees can usually withdrawal from the plan since the contributions have already been taxed.

Call us today for more information and learn how a Non-Registered Savings Program can be implemented into your company.

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