This document provides information on group RRSP plans for business owners and how representatives can approach business owners to propose setting up a group RRSP plan. It outlines the benefits of group RRSP plans for both businesses and employees. It then provides suggestions for representatives on how to prospect specific types of small businesses, including doctors/dentists offices and small restaurants, to introduce the idea of a group RRSP plan and request a meeting with the business owner. The overall goal is for the representative to set up a customized group RRSP plan for the business that benefits both the employees and business owner.

1. PROSPECTING
BUSINESS
OWNERS
Group Pension Plans

2. GROUP RRSP
▪ A collection of individual RRSPs where members make contributions
through their payroll deductions at work.
▪ Members realize instant tax savings because their contributions are
deducted from earnings before tax is calculated.
▪ Owner contributions are completely voluntary.
▪ Owner has full control over member eligibility.
▪ Owner and employee contributions can be made in any combination
but cannot exceed the employee’s individual’s personal RRSP limit

3. GROUP RRSP
▪ Plan sponsor contributions are a deductible expense in the
year in which they are made
▪ Easy to set up, operate and if necessary, modify or terminate
▪ Contributions as low as $50 per month
▪ The minimum plan size is three members
▪ There’s no maximum size but it’s in your best interest to
approach businesses under 25-30 employees. (Administration
can be a overwhelming)

4. THE CHALLENGE
Business owners
▪Think pension plans only benefit the employee! They are not aware it
equally benefits the business.
▪Think it will cost them an arm and a leg.
▪Unaware they have control over the details of the pension
Representatives
▪Not sure how to implement it
▪Not sure how to approach it

5. BENEFIT TO THE BUSINESS
1. Increased productivity: Plan sponsors (employers) can anticipate reduced
absenteeism, as members (employees) spend less company time attending
to their personal financial matters.
2. Reduced turnover: Having a group plan in place helps attract and retain
qualified individuals. Sixty percent of respondents say it is unlikely they
would accept a job with a company that does not have a retirement savings
plan.
3. Increased morale, work satisfaction and loyalty: In a recent survey, 50% of
respondents said they would leave their company if another company
offered them the same salary and a better retirement savings plan.
4. The Business Owners’ contributions are a taxable benefit therefore reduces
business income tax.

6. BENEFITS TO YOU
▪ Efficient day-time activity with greater results
▪ Will give you an opportunity to complete an FNA for each employee
▪ Immediately gets you into a credible market
▪ Easier to prospect business owners
▪ You shouldn’t recruit any of the employees but you can recruit their
spouse!

7. DOCTORS/DENTIST OFFICE
1. During your next check-up, ask
your doctor if he/she has a
pension plan setup for the
employees to help keep their
best employees and reduce
some of the business expenses.
2. If not, ask if you can setup a 30
minute meeting for you to
explain the benefits and if
there is a fit.

8. SMALL RESTAURANTS: YOUR SERVER
1. Ask your server: “Does the owner
have a pension plan setup for the
employees?.” “Do you want one?”
2. Ask for the name of the owner and
the time they usually arrive at the
location.
3. Call to the owner and let them know
you were talking to one of the servers
(don’t reveal their name) and they
mentioned a pension plan was not
setup. Explain the benefits.
4. Ask the owner if you can setup a 30
minute meeting for you to explain
the benefits and if there is a fit.

9. SMALL RESTAURANTS: THE OWNER
1. Ask the owner: “How’s your
turnover?” (restaurants
typically have a very high
employee turnover)
2. “Have you thought about
implementing an employee
pension plan to keep your best
employees and reduce your
business expenses?”
3. Ask the owner if you can setup
a 30 minute meeting for you to
explain the benefits and if
there is a fit.

10. THE RESULT…
1. The business owner sees value in what you do and chooses to
implement the plan in their business.
2. You complete a fully customized FNA for each employee in their own
home with their spouse. You help the family in life insurance, personal
investments and debt elimination..
3. You get referrals and have an opportunity to work with their spouse.
4. The business owner is so pleased with the service and positive morale
of the employees, you are referred to other business owners.

11. PUT IT INTO ACTION TODAY
▪ Talk to your dentist and doctors office
▪ Walk into your local small business and ask “Do you currently have a
company pension plan in force?”
▪ Book a 30 minute meeting with the owner or decision maker to discuss
the advantages of implementing one.
▪ Read and review the resources on dropbox and the Tickle Trunk Site
▪ I will assist you with the appointment (if required)