If I leave my employer, can I continue to contribute to the plan in the future?
Even though you have moved on from your employer, we’ll continue to help you stay on track to achieve your retirement goals.
Unlike most benefits that end when you leave your employer, your Common Good Plan RRSP/TFSA account is yours to keep for life and your RRSP/TFSA savings will automatically stay invested in the target date fund you selected.
Your Common Good Plan offers a smarter way to save than a typical bank RRSP because you get lower fees, a personalized planning tool with tips on how to maximize your money and a mobile app to track your progress.
What you can do in your Common Good Plan:
- Keep more of your investment earnings with our low fees
- Estimate how much you’ll receive in government benefits during retirement
- Track your retirement readiness with personalized planning tools
- Transfer in any existing RRSP/TFSA to consolidate your retirement investments
- Benefit from automatic investing and rebalancing of a diversified investment portfolio
While retirement savings might not currently be top of mind for you — we want to support you and highlight some options that are available going forward:
- Stay the course and start contributing from your bank account by going to the “My Plan” tab and setting up a monthly contribution.
- Want to continue with the Common Good Plan, but not yet ready to commit with a monthly contribution? One of the great features of your plan is the ability to pause your monthly contribution and restart it whenever you’d like.
- Looking to access your funds? You can initiate a withdrawal of your funds directly from the desktop version of the Common Good Plan. Simply select your name in the top right-hand corner and then select “withdrawals” from the dropdown. Be sure you are aware of the tax implications of withdrawing from your RRSP/TFSA. If you wish to transfer your money to another financial institution, you’ll need to contact the receiving institution so that they can help facilitate the transfer.
Questions? Let’s chat.
We’re here to support you! Contact us if you’d like to speak to a retirement specialist about your plan or if you have questions such as:
• How much should I save?
• How can I maximize my retirement income?
• Should I consolidate my retirement savings?
• What can I expect from government benefits when I retire?
• Why do I pay fees?
• How does the market impact my plan?
• How is my investment fund performing?
Book a call or email us at firstname.lastname@example.org.
We look forward to helping you build a great financial future!