@ramsby194 If you’re in Saskatchewan I’ll suggest setting up with Sask Pension Plan. I started with them with a previous employer. I don’t know if you can have on not in province. But they have by far been the easiest option I’ve ever dealt with.
@jekyll Check their website it’s pretty thorough. I like it as my set it and forget it option. My return rate has been pretty solid for growth. And the fees aren’t too high. Counts towards my rrsp deduction limit. I really like it.
@ramsby194 I’ll add my company uses Manulife. I’ve not had any issues. You can make additional lump sum payments, you can modify which funds your contributions will go to (from selection table), you can even move funds from one mutual fund to another in the plan all online. Very good option imo.
@ramsby194 Came here to say Manulife was always easiest to deal with for me and you’ve already said it. That’s who I recommend for ease of use and good products
@deeann I am happy with them. This post is me putting minimal effort into doing my due diligence lol. If any red flags come up from a response I'll dive in deeper but 2 positive posts already and I think I'll stick with them.
@ramsby194 Most savvy investors are shifting out of high fee mutual funds and into low cost ETF's.
Depending on the employee and their income situation they may want to invest in a TFSA, vs just only having an RRSP
That being said a 100% match is basically free money, so on r/PersonalFinanceCanada they recommend always contributing the minimum amount needed to get the highest match from the employer.
Wealthsimple has group plans with fees comparable to their robo/managed at 0.4-0.5% so that puts more money into both your and your employees pockets vs the advisors and fund managers at Sunlife/Manulife with their 2+% fund fees. Group plans get a discount on the fund fees but it's still outrageous when cheaper options are available.
I've personally never had any sort of pension plan or RRSP matching, so I've had to setup and manage my own TFSA and RRSP. My work pays out annual bonuses in lieu of any investment plan s, so I use that to put towards my RRSP.
