Personal Finance

POLL: Do you have RRSP- matching benefits, and if so how often are they paid?

  • Last Updated:
  • Jul 25th, 2017 3:06 pm

Poll: Do you have RRSP-matching benefits, and if so how often are they paid?

  • Total votes: 71. You have voted on this poll.
Yes - X% gets matched every pay cheque
 
53
75%
Yes - X% gets matched on a deferred basis once a year
 
1
1%
Yes - X% gets matched on a deferred basis more than once a year (please post details)
 
3
4%
Nope
 
14
20%
Deal Guru
User avatar
Aug 8, 2012
10198 posts
4027 upvotes
BC

POLL: Do you have RRSP- matching benefits, and if so how often are they paid?

POLL: Do you have RRSP-matching benefits, and if so how often are they paid?

Seems some people get the matching on their contribution every pay cheque, and some get them matched on a deferred basis once a year (or perhaps multiple times - write-in ballot option offered - please post details :))

Wondering how common the two methods are.
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
21 replies
Deal Guru
User avatar
Aug 8, 2012
10198 posts
4027 upvotes
BC
Snapshot of results after 33 votes:

So we have 3 deferred so far out of 29 'yes' responses:
  • 1 yearly
  • 1 quarterly
  • 1 monthly
  • 26 every pay cheque
  • 4 nope


Snapshot of results after 40 votes:

So we have 4 deferred so far out of 36 'yes' responses, ~89% every pay:
  • 1 yearly
  • 1 semi-annually
  • 1 quarterly
  • 1 monthly
  • 32 every pay cheque
  • 4 nope
Last edited by ace604 on Jul 19th, 2017 2:52 pm, edited 4 times in total.
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
Deal Fanatic
User avatar
Feb 19, 2010
6237 posts
2992 upvotes
Another option is just a straight up company contribution (i.e. without an employee contribution).

I used to have that at 5% for each pay period.
Deal Guru
User avatar
Aug 8, 2012
10198 posts
4027 upvotes
BC
Conquistador wrote: Another option is just a straight up company contribution (i.e. without an employee contribution).

I used to have that at 5% for each pay period.
That falls under X = infinity ;)
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
Deal Addict
User avatar
Apr 2, 2010
4015 posts
4406 upvotes
GTA
In my case its a fixed percentage, which I pay and they match, i.e. I cant just contribute more and get more match, nor can I opt out.
Deal Guru
User avatar
Aug 8, 2012
10198 posts
4027 upvotes
BC
martydxb wrote: In my case its a fixed percentage, which I pay and they match, i.e. I cant just contribute more and get more match, nor can I opt out.
You can't opt out?! How can they force you to make RRSP contributions? What if you have no contribution room??
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
Deal Addict
User avatar
Apr 2, 2010
4015 posts
4406 upvotes
GTA
ace604 wrote: You can't opt out?! How can they force you to make RRSP contributions? What if you have no contribution room??
Sorry, I should have clarified, its RPP, I believe that does not over contribute or something.
https://turbotax.intuit.ca/tips/registe ... plans-5544

Can you see a disadvantage of a RPP vs RRSP?

Also: https://forums.redflagdeals.com/rpp-vs-rrsp-557860/
Sr. Member
Aug 20, 2015
517 posts
307 upvotes
Toronto
I've been with a company that does X% gets matched every pay cheque.

Another company I've been with has a max dollar amount contribution. You can contribute however much you want whenever you want, but after you hit the max they no longer match.
Deal Guru
User avatar
Aug 8, 2012
10198 posts
4027 upvotes
BC
tsingoo wrote: I've been with a company that does X% gets matched every pay cheque.

Another company I've been with has a max dollar amount contribution. You can contribute however much you want whenever you want, but after you hit the max they no longer match.
Oh that's an interesting one. So was the match instant (near-instant) or deferred til later?

If you contributed the max on Jan 2 and they matched it all and then you left the company I could see them not liking that :)
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
Sr. Member
Aug 20, 2015
517 posts
307 upvotes
Toronto
ace604 wrote: Oh that's an interesting one. So was the match instant (near-instant) or deferred til later?

If you contributed the max on Jan 2 and they matched it all and then you left the company I could see them not liking that :)
They probably wouldn't like that haha. I got the benefit of this when I started, start date was towards the end of the year and I was still able to contribute the max.

Whenever you requested it, it would begin on your next pay date. You could submit a form Jan 1st to start withdrawing X$ starting in september if you wanted to. They kept the history so the withdrawal amounts would be done the same every year unless you changed it.
Deal Addict
User avatar
Jun 23, 2017
1510 posts
1076 upvotes
Toronto, ON
My co. matches up to 3% so that's what i'm contributing each pay period.
Deal Fanatic
User avatar
Oct 24, 2005
5213 posts
1231 upvotes
Burlington
6% match at the current company paid every pay cheque and vested immediately.
Deal Addict
Apr 19, 2010
3071 posts
1585 upvotes
My employer puts in 8% every pay on their own.

I put in 6% and they match 50% of that (so an additional 3%).

Essentially, every paycheque I get 17% of my base salary towards RRSP.
Deal Expert
Aug 22, 2011
41667 posts
29854 upvotes
Center of Universe
Conquistador wrote: Another option is just a straight up company contribution (i.e. without an employee contribution).

I used to have that at 5% for each pay period.
I have this with my company.
Jr. Member
Apr 6, 2013
180 posts
72 upvotes
Edmonton
I get paid 2x per month, RRSP matching goes in monthly.
Deal Guru
User avatar
Aug 8, 2012
10198 posts
4027 upvotes
BC
chaporion wrote: I get paid 2x per month, RRSP matching goes in monthly.
Huh, another interesting variant... so I supposed you voted (3) "Yes - X% gets matched on a deferred basis more than once a year (please post details)" ?

Half your contribution matches are deferred by a half-month, and the other half are matched immediately
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
Deal Guru
Oct 3, 2006
10493 posts
793 upvotes
Toronto
Matched 100% up to a certain dollar amount, paid quarterly.
Deal Guru
User avatar
Aug 8, 2012
10198 posts
4027 upvotes
BC
Aznsilvrboy wrote: Matched 100% up to a certain dollar amount, paid quarterly.
So we have 3 deferred so far out of 29 'yes' responses:
  • 1 yearly
  • 1 quarterly
  • 1 monthly
  • 26 every pay cheque
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
Member
Jun 21, 2016
211 posts
55 upvotes
Twice a year, last pay in June and first pay in December.

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)