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Defined contribution pension plan (DCPP)

What is a DCPP?

With a DCPP, you'll help your employees build up their retirement savings by making employer contributions. Your employees can also contribute a percentage of their salary.

Advantages

For employers

  • Promotes employee engagement and loyalty
  • A great addition to employee benefit package

For employees

  • Provides retirement income in addition to government benefits
  • Tax advantage: employer contributions don't count as salary
  • Investment income grows tax-free

Contributions

Employer

  • Must equal at least 1% of payroll for participating employees
  • Locked in

Employee

  • Payroll contributions locked in
  • Additional voluntary contributions not locked in

Details

Administration

  • Plan needs to be registered with province, federal government and Canada Revenue Agency
  • Subject to regulatory fees
  • Plan administered in most provinces by board of trustees (in Quebec, can be administered by retirement committee or employer)
  • Annual meetings required in Quebec only

Investments

  • Either employees or administrator responsible for investment choices
  • In most provinces, investment policy required (not always in Quebec)

Contact us

Setting up a plan

Montreal area:
1-800-363-3072 Phone number to set up a group retirement savings plan for the Montreal area. This link opens your phone app.

Quebec City area:
1-877-828-7800 Phone number to set up a group retirement savings plan for the Quebec City area. This link opens your phone app.

Help with an existing plan

Monday to Friday: 8 AM to 8 PM

1-888-510-4762 Phone number for customer service for group retirement savings. This link opens your phone app.

Discover other group savings plans

Group TFSA

A group tax-free savings account (TFSA) is a type of savings plan in which contributions aren't tax-deductible, but the income they generate is tax-free.
Learn more about Group TFSAs.

Group RRSP

A group registered retirement savings plan (RRSP) is a collection of individual RRSPs offered to a group of employees.
Learn more about Group RRSPs.
Desjardins Financial Security Life Assurance Company acts as an issuer, service provider or administrator, as the case may be, of the group retirement savings plans.
This text is for information purposes only. Refer to the policy for all conditions, exclusions and restrictions.