Our team can definitely help you with that. We can work with your team to understand your current group retirement program and come up with a strategy for switching.
Can you help us switch from our current group plan? Read More »
No. We do not require a minimum number of participating employees in order to join the plan as an employer.
Do we need a minimum number of employees in the plan? Read More »
Yes! Common Wealth is designed for all Canadians. The plan makes it as easy as possible for every member, regardless of their age or income level, to get on a path to retirement success and stay on track. The plan supports this goal through saving and investment strategies and options, low fees, plan portability, and
Is the plan beneficial for all employees? Read More »
Yes! The benefit of this plan is that members have the option of contributing to a TFSA. There is no age restriction for contributing to a TFSA, which allows members over the age of 71 to contribute to the plan. Even if employees are drawing down their RRIF contributions, they can still contribute to their
Can employees over age 71 still enroll in the plan? Read More »
This plan is meant for all! Anyone who works for a Canadian employer who is participating in the plan is eligible to join as a member. There is no maximum age limit to join the plan, although members cannot contribute to a TFSA if they are under 18 years old. Members can contribute to an
Who can join the plan? Read More »
Common Wealth is a fully digital group retirement platform, that offers low-fee group RRSP, TFSA, RRIF and DPSP accounts in a single plan, making it an affordable benefit for any size company. It is the only plan on the market that offers personalized planning and smart in-app suggestions, so members know: How much retirement income
How is Common Wealth different from other options? Read More »
Even after retirement, you continue to reap the benefits of a Common Wealth plan. You would still have access to the low-cost investment funds as part of the plan, which would automatically be adjusted (more conservative) according to your age and stage. We’ll also provide support in turning your nest egg into actual retirement income
What happens to my retirement plan when I retire? Read More »
Guaranteed lifetime income is an annuity offering that can help protect your retirement finances from some of the key risks that arise in retirement, including longevity and market risks. A life annuity is a form of life insurance because it is paid based on the life of the insured person, providing guaranteed regular income in
What is guaranteed lifetime income? Read More »
For every year before age 65, your CPP benefit is reduced by 7.2%. For every year after age 65, your CPP benefit is increased by 8.4%. That means that if you decide to access your CPP benefits when you turn 60, you’re choosing to get 36% less on each CPP benefit cheque. However, if you
When should you start collecting CPP? Read More »
You can withdraw from your RRSP before retirement, but it can result in negative tax implications, and your contribution room will not be restored. Within the Common Wealth plan, there is a transaction fee to complete a withdrawal. When you withdraw funds from an RRSP, your financial institution withholds the tax. The rates depend on
When can you withdraw your money from an RRSP? Read More »
Common Wealth is an award-winning digital retirement platform, earning awards for innovation in plan design and technology from the international wealth management publication Pensions & Investments, and for pension leadership from Canadian Investment Review magazine.
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