GRSP Employer
Match Calculator
Your employer match is the highest guaranteed return available. See exactly how much free money you're getting, and what happens if you don't max it out.
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Results are estimates for informational purposes only — not financial advice. Always consult a licensed professional before making decisions. Terms of use →
GRSP FAQs
What is a GRSP?
A Group Registered Retirement Savings Plan (GRSP) is an employer-sponsored RRSP where your company contributes on your behalf. It works the same as a personal RRSP — contributions are tax-deductible and grow tax-sheltered — but often comes with an employer match that makes it significantly more powerful.
What does "100% match up to 4%" mean?
It means your employer will contribute $1 for every $1 you contribute, up to 4% of your salary. If your salary is $80,000 and you contribute 4% ($3,200), your employer also adds $3,200 — for a total of $6,400 invested annually. If you only contribute 2%, you only get $1,600 in employer matching — leaving free money on the table.
What is vesting?
Vesting is the period you must stay employed to "own" the employer's contributions. Common schedules: cliff vesting (0% until year 2, then 100%) or graded vesting (20% per year for 5 years). Your own contributions are always 100% yours immediately.
Should I max out the employer match before other investments?
Almost always yes. Even a 50% employer match is a 50% guaranteed instant return on your contribution — far better than any investment. The general priority order is: (1) max employer match, (2) TFSA, (3) additional RRSP, (4) non-registered investments.
Making the most of your employer GRSP
The employer match is the best guaranteed return available — do not leave it unclaimed.
If your employer matches 100% up to 4% of salary, contributing 4% gives you an immediate 100% return on that money — before any investment gains. No index fund, stock, or GIC in history has consistently matched a 100% employer match. Not maximizing this is one of the most common financial mistakes Canadians make.
Vesting determines when employer contributions become truly yours. Cliff vesting: 0% until a date, then 100% (e.g., 2 years). Graded vesting: 20% per year for 5 years. Your own contributions are always 100% vested immediately. Understand your plan before job-hopping — leaving before full vesting can cost thousands.
GRSP contributions use the same RRSP contribution room as a personal RRSP. Employer contributions to your GRSP generate a pension adjustment that reduces your personal RRSP room the following year. Always max the employer match in the GRSP first — the match outweighs any disadvantage of using your RRSP room.
Many GRSPs offer limited fund options with higher MERs than you'd pay in a personal account. If your plan has expensive funds, contribute enough to max the match, then direct additional RRSP savings to a self-directed account with lower-cost ETFs (MER 0.05–0.25% vs 1.5–2.5% for typical GRSP funds).