A Simple Group Savings Plan. No Cost, No Administration, No Expertise Required.

A Pooled Registered Pension Plan (PRPP) is a retirement Group Savings option introduced by the Government of Canada. It is a no-cost*, easy-to-administer Group Savings plan that allows your employees to save for their retirement directly from their payroll.

Why Choose a Pooled Registered Pension Plan

With a PRPP, any sized business, including self employed individuals operating a business with a business number, can provide their employees and themselves with access to a simple retirement savings vehicle without the need for in-house expertise, since the plan provider acts as the plan administrator and assumes fiduciary responsibility (legal burden).

Implementing a group savings plan can be an effective way to attract and retain employees. RBC Group Advantage™ members will also benefit from the Group Banking packages and exclusive offers that are only available to RBC Group Advantage™ members.

At RBC Group Advantage, we have a plan that fits your company.

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Is This Plan Right for You?

This plan may be an appropriate choice if you:

  • Are a small business or self-employed and want a basic workplace savings plan
  • Looking for a cost effective, easy way to manage a benefits plan
  • Business who want to provide a retirement savings plan but don’t have in house expertise

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A Capital Accumulation Plan (CAP) is a tax assisted investment or savings plan that permits the members of the CAP to make investment decisions in accordance with options offered within the plan. A Group Savings plan is considered a CAP. The Joint Forum of Financial Market Regulators issued the CAP guidelines to clearly outline the responsibilities of parties involved in a CAP and to ensure that members participating in a CAP were receiving the information and assistance they needed to make investment decisions.

RBC Royal Bank will work with you to ensure that your plan complies with the CAP guidelines.

See complete CAP Guidelines