a. The discipline of saving that the Group RRSP offers to workers is one of the major benefits of the program. Employees participating in the RRSP have no choice but to save money via payroll deductions. Thus, even if an individual is not predisposed to saving, he or she will learn to do it anyway.
b. An exceptional amount of savings that the employee receives is the second great advantage. Workers relish the chance to obtain profit from lower management fees.
What are the 2 biggest advantages of a group registered retirement savings plan (RRSP)?
Answer by Academic.tip's expert
An answer to this question is provided by one of our experts who specializes in business & economics. Let us know how much you liked it and give it a rating.
Cite this page
Select a citation style:
References
Academic.Tips. (2021) 'What are the 2 biggest advantages of a group registered retirement savings plan (RRSP)'. 22 September.
Reference
Academic.Tips. (2021, September 22). What are the 2 biggest advantages of a group registered retirement savings plan (RRSP)? https://academic.tips/question/what-are-the-2-biggest-advantages-of-a-group-registered-retirement-savings-plan-rrsp/
References
Academic.Tips. 2021. "What are the 2 biggest advantages of a group registered retirement savings plan (RRSP)?" September 22, 2021. https://academic.tips/question/what-are-the-2-biggest-advantages-of-a-group-registered-retirement-savings-plan-rrsp/.
1. Academic.Tips. "What are the 2 biggest advantages of a group registered retirement savings plan (RRSP)?" September 22, 2021. https://academic.tips/question/what-are-the-2-biggest-advantages-of-a-group-registered-retirement-savings-plan-rrsp/.
Bibliography
Academic.Tips. "What are the 2 biggest advantages of a group registered retirement savings plan (RRSP)?" September 22, 2021. https://academic.tips/question/what-are-the-2-biggest-advantages-of-a-group-registered-retirement-savings-plan-rrsp/.
Work Cited
"What are the 2 biggest advantages of a group registered retirement savings plan (RRSP)?" Academic.Tips, 22 Sept. 2021, academic.tips/question/what-are-the-2-biggest-advantages-of-a-group-registered-retirement-savings-plan-rrsp/.
Copy