What happens in the enrollment process?

During enrollment, you will make a few key decisions, many of which can be changed after setup:

• Set a target retirement age — this is one decision that cannot be edited after enrollment
• Set a target for how much income you want to receive in retirement
• Determine how you want to contribute to the plan: regular payroll cycle contributions from your paycheque through a participating employer and/or monthly contributions from your bank account. You also have the option to do a transfer of an existing TFSA, RRSP, or Registered Retirement Income Fund (RRIF), or a one-time contribution.
• If applicable, choose how much of your monthly contributions, if you have selected this option, to allocate to your TFSA versus your RRSP account
• Choose from one of ten investment options from the plan’s investment manager, BlackRock. Each option is a diversified target date fund based on its time horizon.

For each of these decisions, you will be provided with a default for your consideration, in case you are not sure which option to choose. Ultimately, the choices are yours to make, and the defaults are entirely voluntary.

If your employer is offering a match: