Personal Finance

Should I stay with Group RRSP Plan or Target Benefit Pension Plan?

  • Last Updated:
  • Jun 23rd, 2016 1:07 am
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[OP]
Jr. Member
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Jan 15, 2007
117 posts
1 upvote

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.
3 replies
Banned
Mar 11, 2016
2081 posts
866 upvotes
if it is a defined benefit pension plan then yes do it

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