GROUP PLAN

A group plan is an employee welfare benefit plan offered or maintained by an employer or by an employee organization or both, which provides life and health coverage for participants and their dependents.

GROUP REGISTERED SAVING PLAN

Group Registered Saving Plan (GRSP) is a collection of individual RRSP accounts administered by a company which is the plan “Sponsor” on behalf of its members who are employees of the company. It gives the opportunity for employees to contribute directly from their payroll using pre-tax dollars.