Saving for yourself doesn't always mean saving by yourself
A workplace plan can help you save more effectively for the things that matter – including life events and retirement. In fact, employees who are in a group savings plan have a real advantage over those who aren’t.1
Here are just some of the advantages your group savings plan offers:
One of the major benefits of a workplace pension and savings plan is that you pay fewer and/or lower fees, so more of your money stays working for you!
No sales commissions
Sun Life Financial buys directly (wholesale) from the investment manager or mutual fund company on your behalf, so no sales commissions apply.
Lower investment management fees
Together with your employer, we have the bargaining power to negotiate lower investment management fees than you would pay as an individual investor.
No fees to transfer between funds
You can move your money between investments at any time without paying fees.
Instant tax savings
If you have contribution room and you're contributing to a registered pension plan or retirement savings plan by payroll deduction, you can arrange with your employer to have your contributions taken before tax. That way you don't have to wait until you file your income tax return to get the tax benefit.
Leading investment managers
You have access to Canada's leading investment managers, some of whom are only available through a group plan.
Payroll deductions make saving easy. You'll be amazed how much you can accumulate in your group savings plan by making regular contributions.
Your Sun Life Financial Group Retirement and Saving account gives you 24-hour access through our interactive phone and online services. You'll also receive detailed statements regularly.
Leaving your workplace plan?
Leaving your employer shouldn’t mean leaving all your workplace benefits behind. You may be eligible to continue your coverage with our Choices plans:
- Life insurance
- Health and dental insurance
- Savings plans
- Retirement income plans
Small business benefits and savings
Sun Life offers a variety of affordable, customizable benefits and savings plans that are well suited to businesses with 3 to 49 employees. Our innovative solutions deliver the rewards of a healthier, wealthier workforce.
VRSPs and PRPPs
We make it easy for you to build your business with voluntary retirement savings plans (VRSP) and pooled registered pension plans (PRPP). Get access to cost-effective retirement savings options for small- to medium-size companies that do not have a workplace retirement savings plan.
Harness your competitive spirit and learn about your workplace retirement and savings plan.
Access many self-service options and useful resources to help you manage your workplace savings plan.
Submit claims, view coverage details, check balances, make contributions or use your smartphone as your drug and travel card with my Sun Life Mobile.
Want to help the environment? Go paperless with your statements! Sign in to mysunlife.ca > my financial centre > Accounts > Statements – to “Change how often I receive a paper statement”.