Every new talent receives a welcome email from Canada Life once PGC (our local partner) creates their RRSP profile. This email contains all the instructions required to complete the account setup.
PGC will communicate directly with the worker only if they reach out via phone or email with questions about the process.
Eligibility
Eligibility Period: The worker becomes eligible to receive RRSP employer contributions effective from the 1st of the month following 30 days of employment.
Account Setup
If the talent has successfully set up their RRSP account, contributions will be reflected on the invoices accordingly.
If no RRSP form has been submitted, PGC cannot process or activate the benefit until the completed form is received.
To submit the RRSP form, please use the following link: https://resources.pgcgroup.com/rrsp/
For additional information regarding RRSP contributions, please refer to: https://www.canadalife.com/investing-saving/saving/registered-retirement-savings-plan-rrsp.html
Deductions
RRSP deductions are not processed until after a full pay cycle following the effective date.
Once active, contributions will be reflected in payroll and invoicing accordingly.
Contribution Structure in Precision
Each RRSP setup in Precision is defined by the following components:
Contribution Type
Fixed Percentage (e.g., 5% of gross pay)
Fixed Amount (e.g., CAD 200 per pay cycle)
Matching Contribution (e.g., employer matches up to 3%)
Effective Date
The date from which the contribution structure becomes applicable.
Contribution Details
Enter the percentage (%) for fixed percentage contributions
Enter the amount for fixed dollar contributions
Confirm matching contribution values (if applicable)
Yearly Maximum Limit
Once the annual contribution limit is reached, no further contributions will be processed for the remainder of the calendar year.
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