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u have heard about RRSPs and soon i you will start hearing more about Group RRSPs. Over the years, individuals have become more concerned about preparing for retirement. Often this has been accomplished through a company pension plan. However, small firms cannot afford traditional pension plans and larger organizations find them complex and expensive to administer. Group RRSP plans could be the solution. Group RRSPs are simply a collection of individual RRSPs that are established at your place of employment. They are easy to establish, offer a fair degree of flexibility, and are inexpensive for an organization. Employers and employees can contribute and neither are committed to continue in the future if circumstances change. So far so good. However, Group RRSPs, like most things, have a downside. Group RRSPs car Group RRSP s do have a downside be too flexible at times. Unlike a company pension plan, an employee can withdraw funds from a Group RRSP. This practice is discouraged but, nonetheless, it still happens. It is often the short term priority of a consumer purchase that wins over the more sensible, but not as much fun, longâ€"term priority of retirement savings. The end result is that less funds are available when the person retires. A slight variation of a Group RRSP is the Defined Contribution Pension Plan that is often referred to ‘as a Money Purchase Plan. It is similar to a company pension because the employer contributes a specific "defined" amount each year to an tay Everg.V *4 PaRTICIPaLTIOn One final comment about a Group RRSP is that it is portable. The funds are invested directly into an individual‘s account. There is no vesting period; the RRSP is yours from day one. employee‘s retirement plan. Employer funded benefits can be lockedâ€"in and, therefore, eliminate the temptation for an employee to spend retirement funds. This option is a little less expensive than the popular Group RRSP because employer contributions are not subject to payroll tax. Controlling your retirement funds is important because of the growing frequency of job and career changes experienced by employees. The workers of the future will be far more mobile than in previous generations and, therefore, their retirement savings should be equally as mobile. Peter Watson, MBA, CFP, RFP is the president of Peter Watson Investments Limited â€"â€" an Oakville firm specializing in retirement planning, RRSPs, and investment planning. He can be reached at 842â€" 7602. phe s ce whe se hests ce e c se t hh h se o h h ic t t J x : whe se se se h h whe h h h h se h h h h e h h h t# (905) $45â€"9180 CY _ HOUSES FOR SUNDAY, SEPT. 3 2:00â€"4:00 1083 Ambercroft, Glen Abbey 5141 Fifth Line, Milton 2061 Grand Blyd., N.Oakville, Joshua Crk. 2378 Yolanda Dr., Bronte FRIDAY SEPTEMBER 2, 1994 PAGE 19 ® HUMPHRIEV§ A’AKE HOUSE O"\s o05) $45.9180 T Advisory Group move. 561 T After a decade of using Halton Region headquarters in Oakville as its base of operdtion, the Halton Small Business Advisory Group is on the move. Over the past 10 years SBAG members met every Friday to give personal consultation services to one or two small business people. Some 1,400 individuals have been counselled by the group over that period. The SBAG consists of about 14 members, all retired business people with specific areas of expertise and with a cumulative 500 years of experience. Changing policies on the use of regional facilities and a desire to get closer to their clients, will see the SBAG operate on a rotating basis throughout the region in Oakville, Burlington, Milton and Halton Hills. SBAG spokesman, Peter Tesar, says the mayors of the municipalities have been very supportive of the initiative and have offered meeting rooms in their respective town halls or public facilities. The permanent home for SBAG will now be 3017 St. Clair Ave., Suite 331 Burlington Ont. L7N 3P5 Telephone: (905) 681â€"3222 or fax: (905) 634â€"9095. :0 =FREE CONSULTATIONâ€" CALL BEV. 849â€"8666 Town house. 34 Onslow Crt. $1200 mth Avail. Nov. 1/94, incl. fridge stove. One of a kind homes, approx. 2800 SF, catheâ€" dral ceilings 2 FPs, huge nc rms, great for entertaining, Main f1. FR Den, private treed lot. Large 4â€"evel split, main floor family room with fireplace, huge fenced lot, updated kitchen furnace much more. Quiet Glen Abbey street, close to schools shops, parks and rec. centre. Fenced lot home in mint condition. A must to see! Glen Abbey TH. Excellent condition, includes all appliances window coverings. Won‘t last. P MONEYSTRAT INC. DET. BRICK HOME $199,900 WEST OAKVILLE $209,900 '11 nd homes approx. %c‘ Sheet For details call Shireen Preksta 844â€"5000 sutton group people properties inc. sutton group â€"