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: 60. You have voted on this poll.
Yes - X% gets matched every pay cheque
 
47
78%
Yes - X% gets matched on a deferred basis once a year
 
1
2%
Yes - X% gets matched on a deferred basis more than once a year (please post details)
 
3
5%
Nope
 
9
15%
[OP]
Deal Guru
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Aug 8, 2012
10198 posts
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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?
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21 replies
[OP]
Deal Guru
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Aug 8, 2012
10198 posts
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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 Addict
User avatar
Feb 19, 2010
4596 posts
1537 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.
[OP]
Deal Guru
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Aug 8, 2012
10198 posts
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Conquistador wrote:
Jul 19th, 2017 3:13 pm
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
Apr 2, 2010
1003 posts
350 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.
[OP]
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Aug 8, 2012
10198 posts
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martydxb wrote:
Jul 19th, 2017 3:18 pm
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
Apr 2, 2010
1003 posts
350 upvotes
GTA
ace604 wrote:
Jul 19th, 2017 3:21 pm
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/
Jr. Member
Aug 20, 2015
193 posts
70 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.
[OP]
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Aug 8, 2012
10198 posts
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BC
tsingoo wrote:
Jul 19th, 2017 4:23 pm
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...)
Jr. Member
Aug 20, 2015
193 posts
70 upvotes
Toronto
ace604 wrote:
Jul 19th, 2017 4:32 pm
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.
Member
User avatar
Jun 23, 2017
200 posts
45 upvotes
Toronto, ON
My co. matches up to 3% so that's what i'm contributing each pay period.
Deal Addict
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Oct 24, 2005
4116 posts
156 upvotes
Peterborough
6% match at the current company paid every pay cheque and vested immediately.
PSN ID: SaabFanatic
Deal Addict
Apr 19, 2010
1430 posts
386 upvotes
Sudbury
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
15206 posts
4268 upvotes
Ottawa
Conquistador wrote:
Jul 19th, 2017 3:13 pm
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
161 posts
53 upvotes
Edmonton
I get paid 2x per month, RRSP matching goes in monthly.

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