Group Retirement Savings Plan
What is a GRSP?
A GRSP is a Retirement Savings Plan (RSP) that is administered by your employer on your (and your coworkers’) behalf. With a GRSP, you can contribute directly from your paycheque using pre-tax dollars.
GRSPs are similar to RRSPs in that they utilize your RRSP contribution limits and have the same tax advantages. You can choose from BMO’s full range of mutual funds as well as term investments.
Speak with a Financial Planner to get started:
Why GRSPs are good for you
Your savings are pooled with the savings of others in the plan, which makes GRSPs a cost effective way to save for your retirement compared to saving on your own. Since contributions are deducted automatically, making a BMO GRSP offers a convenient and disciplined way to save for retirement and your investments can benefit from compounding returns over time.
of working Canadians are worried they will not have enough money to live comfortably in retirement.
would feel more confident if money was deducted automatically from their pay.
think workplace savings plans should be accessible to all Canadians.
Environics Research Group, 2010. Study commissioned by the Canadian Life and health Insurance Association
Personalized support
Are you an employee?
Many employers choose to match their employees’ contributions, so you can potentially save even more for retirement.
Have questions? Please read our BMO GRSP FAQ for employees (PDF - 34kb)
Are you an employer?
Please read our Take care of the people who matter employer (PDF - 533kb) for more information on why BMO GRSPs make saving for retirement easier.
Have questions? Please read our BMO GRSP FAQ for employers (PDF - 34kb)
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