RRSP
 

Hi, can anyone advise what a good employer contribution is to the RRSP in Canada. For example is it normal to match what you put in, or is it a percentage of salary?
Thanks
Trax

Re: RRSP
 

It is rare for an employer to contribute anything. At least, it is in the small to medium size businesses that I work with in BC.

Re: RRSP
 

Hi,

Where I work...I kick in 2 percent and the company kicks in 4 percent...

Re: RRSP
 

My employer contributes 8% of my salary into a defined contribution pension plan, which I am then responsible for managing. In addition, I can pay up to 25% of my income into a savings scheme (which can be an RRSP, but doesn't have to be) and they match the first 5%. From what I understand, you are only likely to find that kind of contribution in the oil and gas industry.

Re: RRSP
 

Typical contribution in my experience (two medium sized Canadian companies) is 3% RRSP contribution matching. (e.g. you put in 3, the company puts in 3.) As DanFolkestone says some industries - particularly Oil and Gas offer a substantially better deal. I have heard of 5-7% contribution matching with a couple of major international players with offices here in St Johns.

Re: RRSP
 

Its good if your employer matched contributions, but its not the norm, so any contribution matching is a nice benefit to have.

Had it with one employer, contributions matched up to 3% of salary I think it was (restricted choice of RRSP funds though), Dont have it with the current one.

Re: RRSP
 

7.95% employer and equivalent employee contributions where I work (a BC university), for a defined benefit pension plan.

Re: RRSP
 

Not really what the OP asked though.

Re: RRSP
 

My employer matches my 7.95% contribution with the same amount. I think this is a good deal.

I don't believe it's necessarily 'normal' to receive this level of contribution matching.

Hope that answers the question better Tangram ;)

Re: RRSP
 

Not really mate as you are contributing to a defined benefit scheme not an RRSP.