Group Retirement Plan Checklist for Alberta Businesses

Thinking about offering a group retirement plan but not sure where to start? This checklist walks you through the practical decisions — from budget to structure to payroll — so you can talk to an advisor already knowing what matters to your business.

Before You Start: Get Clear on Your Goals

• Write down why you're offering a plan (attract staff, keep staff, or both).
• Note how many employees you have and whether that's likely to change soon.
• Decide whether you want a plan that's simple to run or one with more structure.
• Set a rough monthly or annual budget you're comfortable committing to.
• Check whether you already offer group benefits or an HSA that could be coordinated.
• List which roles are hardest to hire or keep — this often shapes the plan design.

Understand Your Three Main Structures

• Learn how a group RRSP works: employee contributions via payroll, optional employer matching.
• Understand a DPSP: employer-only contributions, and how vesting periods can apply.
• Understand a group pension (DCPP): more formal rules and a longer-term commitment.
• Ask which structure fits your budget and how much complexity you want to manage.
• Confirm you understand the differences — these are separate plans with separate rules, not interchangeable.
• Have an advisor walk you through the trade-offs of each before you decide.

Design Your Contribution and Matching Approach

• Decide whether the employer will match employee contributions, and up to what level.
• Consider tying eligibility or matching to length of service if that suits your goals.
• Set a clear, written contribution formula so staff know what to expect.
• Think about a waiting period before new hires can join (varies by plan).
• Confirm how employer contributions are treated for tax with your accountant before finalizing.
• Check the general tax treatment for employees on CRA — see [CRA T4130](https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4130.html).

Handle Setup, Payroll and Administration

• Map out how contributions will flow from payroll to the plan each pay cycle.
• Confirm who on your team will manage enrollment and ongoing administration.
• Ask about the platform's employee onboarding and support materials.
• Understand what happens when an employee leaves or is terminated.
• Get a plain-English summary of any employer and employee fees before signing.
• Compare offerings from more than one carrier rather than defaulting to the first quote.
• Ask how the plan can grow or change as your headcount does.

Communicate and Review

• Prepare a simple one-page explanation of the plan for your staff.
• Point employees to their own plan booklet for full details and definitions.
• Remind staff that investment values may change depending on market performance.
• Set a yearly reminder to review whether the plan still fits your budget and goals.
• Keep your group retirement, benefits and HSA coordinated under one advisor where possible.
• Book a free 15-minute consult with an Alberta-based advisor to confirm the right fit — call +1 (780) 977-3155 or email alfredo@aitrustadvisory.ca.