Manulife RSP

The group retirement savings plan (RSP) for the Employees of Ultimate Tradesmen Ltd., sponsored by Ultimate Tradesmen Ltd. has been established with Manulife Financial.  The purpose of the Plan is to offer a group registered retirement savings plan to you as part of a total compensation program and to provide you with a convenient, tax-effective method of saving for your retirement.  The Plan is only intended to provide a portion of your overall retirement savings.  Your Plan Sponsor encourages you to seek independent financial advice to ensure overall savings strategies will meet your retirement income needs.  

How the plan works:

• The Plan is a registered retirement savings plan (RSP)
• You and your Plan Sponsor contribute to the Plan on a regular basis.  You may make voluntary Member contributions.
• A Member account is set up in your name under the Plan.  Alternatively, you can establish an account under the Plan for your spouse or common-law partner.  All contributions are kept in your Member account or the account maintained for your spouse or common-law partner.
• All contributions made by you and your Plan Sponsor are tax deductible and any investment earnings grow tax-deferred.
• You choose how contributions are invested from the choices available under the Plan.  Your spouse or common-law partner chooses how contributions directed to their spousal account are invested, within a range of investment options offered under the Plan.
• The amount available for your retirement depends on the total contributions made and the investment returns they earn.
• You will receive regular statements and access to information and tools to help you manage your Member account.  Similarly, if you establish a spousal account, your spouse or common-law partner will receive regular statements and access to information and tools to help manage his/her account.
• Information about what happens when you terminate your employment, retire, or die is available upon request.