What do companies need to know before they move ahead with a group registered retirement savings plan (RRSP) from an advisor’s perspective?

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What companies should do:

Hire a professional advisor to set up the program.
Have a responsible person arrange the program; the one who will create profitable returns for employees from an effective mix of funds.
Ensure that workers can obtain independent investment recommendations.
Encourage employees to listen to the advisor.
Set up restrictions to help employees keep their savings secure.

What companies should not do:

Allow some random person with little experience in investments to deal with the RRSP implementation.
Let employees withdraw funds when they want before retirement.
Make the program’s plans too amenable (in such a case, the goal of the RRSP will not be achieved).
Let employees take the money early (to avoid their being broke after retirement).

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Academic.Tips. (2021) 'What do companies need to know before they move ahead with a group registered retirement savings plan (RRSP) from an advisor’s perspective'. 22 September.

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Academic.Tips. (2021, September 22). What do companies need to know before they move ahead with a group registered retirement savings plan (RRSP) from an advisor’s perspective? https://academic.tips/question/what-do-companies-need-to-know-before-they-move-ahead-with-a-group-registered-retirement-savings-plan-rrsp-from-an-advisors-perspective/

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Academic.Tips. 2021. "What do companies need to know before they move ahead with a group registered retirement savings plan (RRSP) from an advisor’s perspective?" September 22, 2021. https://academic.tips/question/what-do-companies-need-to-know-before-they-move-ahead-with-a-group-registered-retirement-savings-plan-rrsp-from-an-advisors-perspective/.

1. Academic.Tips. "What do companies need to know before they move ahead with a group registered retirement savings plan (RRSP) from an advisor’s perspective?" September 22, 2021. https://academic.tips/question/what-do-companies-need-to-know-before-they-move-ahead-with-a-group-registered-retirement-savings-plan-rrsp-from-an-advisors-perspective/.

Bibliography

Academic.Tips. "What do companies need to know before they move ahead with a group registered retirement savings plan (RRSP) from an advisor’s perspective?" September 22, 2021. https://academic.tips/question/what-do-companies-need-to-know-before-they-move-ahead-with-a-group-registered-retirement-savings-plan-rrsp-from-an-advisors-perspective/.

Work Cited

"What do companies need to know before they move ahead with a group registered retirement savings plan (RRSP) from an advisor’s perspective?" Academic.Tips, 22 Sept. 2021, academic.tips/question/what-do-companies-need-to-know-before-they-move-ahead-with-a-group-registered-retirement-savings-plan-rrsp-from-an-advisors-perspective/.

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