Should I stay with Group RRSP Plan or Target Benefit Pension Plan?
I have been contributing to a Group RRSP Plan within my company all these years. However, all contributions will be allocated to a target benefit pension plan starting next month, unless I give instructions that I want to continue to stay in a group RRSP Plan.
Currently the money are all invested in index funds and self managed, and I have no intention to withdraw anything anytime soon. While in new TBPP, I will have absolutely no control over the money I contribute and have to wait until the day I retire.
Is there any benefit that I should consider this pension plan, other than disciplined and forced saving towards your retirement, and possibly more experienced professionals to manage your money?
Any insight would be highly appreciated.
Currently the money are all invested in index funds and self managed, and I have no intention to withdraw anything anytime soon. While in new TBPP, I will have absolutely no control over the money I contribute and have to wait until the day I retire.
Is there any benefit that I should consider this pension plan, other than disciplined and forced saving towards your retirement, and possibly more experienced professionals to manage your money?
Any insight would be highly appreciated.