Retirement 101 - Canada
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Defined Benefit Plans
A defined benefit plan, also called a pension plan, promises you income in retirement. [Learn more]
Defined Contribution Plans
With a defined contribution plan, also known as a money purchase plan, your organization sets up an individual retirement savings account for you. These accounts can also be called group Registered Retirement Savings Plans (RRSPs) and Deferred Profit Sharing Plans (DPSPs). [Learn more]
Have any questions? If you work in the skilled trades, go to your fund office or third party administrator. If you aren't sure who that is, check with your union steward. If you work in an office setting, see your benefits or HR department.
