How many employees do I have to have in the plan to get started?
• All you need are 2 employees enrolled to set up the plan.

What fees do I pay for being part of the MERIT Group RRSP?
• There are no fees when the plan minimum of $10,000 in yearly contributions is met.

Do both employer and employee contribute?
• Yes, in a typical plan the employee’s contribution is matched by the employer.  2% to 5% of gross earnings is a good starting point.

Is the plan mandatory for all employees?
• The plan is 100% voluntary, but a vesting period is recommended for employer contributions.

Can I transfer an existing RRSP?
• Yes, your existing plan contributions can be transferred at any time once the group is enrolled.

Are there withdrawal rules?
• The employer can restrict withdrawals to the home buyers plan or life learning plan.