Getting Serious

Make the most of your plan

You’ve taken the most important step to reaching your financial goal: you joined the CEIRP.

Here are some easy ways to help grow and monitor your savings without much effort.

Increase contributions

Increase the amount you contribute to your CEIRP accounts. Find out how even a small increase can make a big difference with My 1 per cent advantage calculator.

To increase contributions, contact your plan administrator. Make sure to check your RRSP contribution limit on the Canada Revenue Agency’s tax filing Notice of Assessment.

Combine your savings

To get the maximum growth on your money, consider combining other savings you have into your CEIRP RRSP or TFSA. Through the power of group purchasing, you‘ll typically pay lower fees compared to retail investments.

See the difference lower fees can make with My group advantage calculator (requires Flash).

  • Contact your plan administrator or phone Great-West Life at 1-800-724-3402 for a “Transfer authorization for registered investments” form and submit it to the financial institution holding your other registered savings. Be sure to ask the financial institution about any transfer costs or fees.

  • Contact your plan administrator or phone Great-West Life at 1-800-724-3402 for a “Transfer authorization for TFSA” form and submit it to the financial institution holding your other savings.

  • If you have money that’s still in an employer’s pension plan,you should check with them to see if you need to complete any paperwork before transferring that money to Great-West Life.

    If your money has already left your previous employer’s pension plan, just complete the “Transfer authorization for registered investments" form and submit it to the other institution. Be sure to ask your financial institution about any transfer costs or fees.

    Contact your plan administrator or phone Great-West Life at 1-800-724-3402 for a transfer form and submit it to the financial institution holding your other savings.

Review your goals and risk tolerance

Your financial goals and the level of risk you’re comfortable with will change over time. Review your risk tolerance with the Investment personality questionnaire. If you invested in a Portfolio Target Risk Fund, or built your own investment portfolio, make sure your investment choices still match your risk profile.

smartPATH can help you maximize your money

Visit this interactive website for educational tools and resources to help you get the most out of your group retirement plan.

www.smartpathnow.com