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How Canada Life is supporting you during COVID-19. Learn more

The Great-West Life Assurance Company, London Life Insurance Company and The Canada Life Assurance Company have become one company – The Canada Life Assurance Company. Learn more

The Great-West Life Assurance Company, London Life Insurance Company and The Canada Life Assurance Company have become one company – The Canada Life Assurance Company. Learn more

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It’s an easy way for your small business to offer retirement and savings options to your employees. Choose between a registered retirement savings plan, a deferred profit-sharing plan, or both, with an optional tax-free savings account on top.

You control what’s offered, and we’ll help take care of the rest.

There’s a lot to think about when you run a small business. Performers plans make the responsibilities of offering a group retirement and savings plan as simple as possible.

We help handle legal and privacy concerns, working with you to make sure your plan is compliant. Once your plan is set up, our secure online tools give you and your employees easy access to the information you need. 

You can choose a registered retirement savings plan (RRSP), a deferred profit sharing plan (DPSP), or both.

Whichever plan you choose, you can always add on a tax-free savings account (TFSA) as another flexible savings option.

Registered retirement savings plan (RRSP)
Deferred profit sharing plan (DPSP)
What does it do?

Encourages employees to save for retirement

Shares company profits with employees

Who is it for?

For-profit or non-profit companies, union groups or associations

For-profit companies only

How can it help?

  • You retain flexible control of the plan's rules
  • We take care of the tax receipts
  • Helps employees secure their future
  • Your contributions are tax-deductible
  • Encourages productivity by tying contributions to company profits
  • The money you contribute isn't taxed as salary, which means net savings

Who contributes?

Employers and employees can both contribute

Only the employer contributes

Which employees are eligible?

Any

Major stakeholders aren't eligible

What do you need to do?

  • Facilitate payroll deductions and your contributions
  • Authorize employees to participate
  • Calculate payment for each member
  • Authorize employees to participate

How do fees work?

  • For employers: work with an advisor to find a plan within your budget, without admin or upkeep fees
  • For employees: pay lower investment manager fees than they would on their own
  • For employers: work with an advisor to find a plan within your budget, without admin or upkeep fees
  • For employees: pay lower investment manager fees than they would on their own

You can receive a discount on Performers plans if you bundle with one of our other benefits plans for small businesses.