Product information

Group Retirement and Savings Plan options


Sun Life is dedicated to providing employers who sponsor a group retirement or savings plan with unsurpassed experience. 


Some of the value-added services we offer include:

  • a dedicated Group Retirement Services representative, assigned specifically to your plan
  • our Plan Sponsor Services website
  • detailed reporting and meaningful analysis
  • Total Benefits Solutions that provide a one-stop experience for members in both our Group Retirement and Group Benefits programs

Sun Life can custom-design a retirement savings program to meet the needs of your organization. You can select from a variety of plan options, some of which include:

Registered Retirement Savings Plan (RRSP)

A retirement savings plan registered with CRA. This group arrangement covers Individual RRSPs offered by an employer to employees, allowing payroll deductions (pre-tax) for employee contributions. Associations can also offer a group RRSP to its membership.

Defined Contribution Pension Plan (DCPP)

A pension plan registered with Canada Revenue Agency (CRA) and the pension jurisdiction that is sponsored by an employer to provide a pension to employees upon retirement. 

GRS for Business Owners 

SunAvantageTM my savings is designed for small businesses. It offers tax-efficient savings opportunities for employees, with the simplicity, level of service and support small business employers need to ensure that there's little time needed to administer the plan. 

Tax-Free Savings Account (TFSA)

A savings plan registered with the CRA. Contributions use employee after tax dollars, accumulate tax-free and can be used for both short- and long-term savings. 

Deferred Profit Sharing Plan (DPSP)

A trusteed arrangement under which an employer shares profits from their business with all or a designated group of employees which objective can be to provide income at retirement. Usually offered in conjunction with an RRSP.

Employee Profit Sharing Plan (EPSP)

A trusteed non-registered plan under which employer contributions are tied to company profits and need not be for a specific reason (retirement).  Registration is not required, however documentation may be required by CRA confirming the purpose of the plan.

Non-Registered Savings Plan (NREG)

An NREG is a non-registered account and it is very straightforward from a tax perspective. Employees contribute after-tax dollars and are taxed on any capital gains and investment income earned. 

Sun Life Delegated DC

We understand plan sponsors face a myriad of competing priorities, and the challenges in trying to support all of these with the right level of focus, expertise and timeliness. With Sun Life Delegated DC, we lend our expertise to your plan, offering plan administration and oversight of your plan’s investment line up, as well as compliance support.

Contact us

Talk to one of our Group Retirement Services representatives to learn more about how we can help you create a unique retirement savings plan for you and your plan members.

  • Ontario
    1 800-387-2636

  • Quebec and Eastern Canada
    1 800-561-5910

  • Western Canada
     1 877-266-3563