Group Registered Retirement Savings Plan

Employee Benefits

The information provided here is intended as a summary of the more important features of The University of Winnipeg Group RRSP. The benefits and terms and conditions under which they are provided, are governed by the group agreement, and in any dispute the agreement will take precedence over the information provided here.

(Sun Life Policy #63519-G RRSP)

NOTE - While an RRSP (group or individual) may be the ideal way to supplement retirement income for many individuals, it is an investment option that may not be suitable for all individuals.  To determine whether saving through an RRSP is an appropriate investment option for your individual circumstances, the University of Winnipeg recommends that you consult with a financial advisor.


October 2017

July 2016

April 2014

  • Sun Life Financial Group RRSP Fund Management Fees Reduction Announcement

May 2012

December 2010

October 2010


The Group Registered Retirement Savings Plan with Sun Life Financial was implemented effective May 1, 2003. The Group RRSP provides you with an opportunity to save for a financially secure retirement since it is recognized that any comprehensive retirement planning strategy includes three components: employer sponsored pension plan, government pension plan and private retirement savings. The Group RRSP provides investment options, tax sheltering of assets and investment earnings until retirement.

In addition to the features of the Group RRSP, amounts contributed towards your retirement income are subject to federal tax laws. The information provided here will explain the common guidelines that apply to amounts deposited into an RRSP and describe the basic terms of program.

Beneficiary Designation

You may designate a beneficiary of your choosing or your Estate for any benefits payable from your Group RRSP.

Please note that your beneficiary designation will not be revoked by any future marriage or divorce. Should you wish to change or revoke your beneficiary in the event of a marriage or divorce, you have to do so by completing a new beneficiary designation.

Ensure your beneficiary is aware of this benefit and knows where your estate related documents are kept.


The amount that you can contribute to a Registered Retirement Savings Plan (group or individual plan) on a tax-deductible basis is directly affected by the benefit you earn under a registered pension plan. If you are a member of the University of Winnipeg Trusteed Pension Plan, a Pension Adjustment (PA) will be calculated at the end of each calendar year by the University and reported to the Canada Revenue Agency (CRA) on your T4 slip.

The Canada Revenue Agency will advise you of your RRSP contribution room for each taxation year on your Notice of Assessment.

If you are a member of the Defined Benefit component of the Plan, the Pension Adjustment (PA) is based on the Plan benefit (formula pension or maximum pension, whichever is less) you earn in each year.

If you are a member of the Defined Contribution component of the Plan, the Pension Adjustment is the sum of your and the University required contributions.

The amount you choose to contribute may be a percentage or flat dollar amount per pay, and is subject to a minimum of $10 per pay-period.

Contributions are generally made through regular payroll deductions, however, you may make a lump sum contribution. You can also transfer assets into the Group RRSP from another institution by filling out a "Direct Transfer of Assets" form (available from Human Resources).

The University of Winnipeg does not make contributions to the Group RRSP on your behalf.

Default Fund

If you do not make an active fund selection, your contributions will be credited to the Plan Default fund, which is the McLean Budden LifePlan Fund with a target date that is closest to, but not exceeding, your 65th birthday (known as Target Date Fund).

Plan members are strongly encouraged to make an active and informed fund selection based on their Investment Risk Profile (this tool is available in the "my money" guide and on the Sun Life member website) and to periodically review their fund selection.

Directing Contribution Investment

You have total discretion as to how your contributions are invested within the Group RRSP. There is a wide selection of investment options for you to choose from and range from conservative to aggressive. The investment options available in the Group RRSP are identical to the options available through the Defined Contribution component of the University of Winnipeg Trusteed Pension Plan.

You can find more information about each of the investment options by logging onto and accessing Morningstar.

Income Tax Regulations

  • The Group RRSP and the manner in which it is operated is governed by the Income Tax Act (Canada).
  • You must include benefits paid out of the Group RRSP in your taxable income unless you have made a tax-sheltered transfer.
  • Any cash payment out of the Group RRSP is fully taxable in the year in which you receive it. It is subject to withholding tax at the time of withdrawal.

Enrolling in the Group RRSP

Enrollment is easy. Just click on the above Enrollment Form link or My Money Investment and Savings Guide link (enrollment form is located at end of guide).

Sumbit your enrollment form to Human Resources if you will be contributing through regular payroll deductions.  The enrollment form is forwarded to the address on the form if you are making a lump sum contribution.  After you enroll, you will receive instructions from Sun Life Financial on how to obtain your personal access ID and password to access your account online (if DC Pension Plan member, this will be the same access ID and password as for your pension).

The following employees are eligible to participate in the University of Winnipeg Group Registered Retirement Savings Plan:

  • Continuing salaried Academic and Support employees;
  • Term salaried Academic and Support employees.

Sun Life can begin accepting contributions once you complete and submit an enrolment form.

Member Statement

Twice each year, Sun Life produces an account statement showing the contributions made by you into the Group RRSP since the last statement and the total value accumulated to your credit. The June statement is available online only (see below) and the December statement is sent directly to your home.

You can access your detailed account information anytime through the member website or by phoning the Sun Life Customer Care Centre.

Finding Your Statements Online

Personal Information

The personal information requested of you is required in order to efficiently administer your benefits under the Program.

Sun Life will establish a file in which your personal information will be kept. Only Sun Life employees, representatives and other individuals who you authorize will have access to this file. All Sun Life employees and representatives must abide by the Sun Life Code of Business Conduct, which ensures that your personal information is confidential and is used only for the administration of this Program.

If you wish to view the personal information held in your Sun Life file, a written request should be sent to:

Group Retirement Services
Sun Life Assurance Company of Canada
PO Box 1601
STN Waterloo
Waterloo, ON
N2J 4C5

Some restrictions and charges may apply.

Sun Life needs to be kept informed of changes in your address, beneficiary or other personal information that are used to administer the Program. When such a change occurs, please contact The University of Winnipeg Human Resources office for the form to notify Sun Life of the change.

Program Benefits

  • Lower Investment Management Fees. Everyone pays this type of fee when investing in mutual funds. Under the Group RRSP program your fees are lower than what you would pay on your personal investments. Paying lower fees can add up to a significant difference in the value of your investments over time.
  • No loads. No front end or back end loads which means your full contribution is invested.
  • No transaction costs. No cost for account transactions such as investment changes and fund to fund transfers.
  • Immediate tax savings. Contributions made through payroll deduction immediately reduce the tax you pay.
  • Investment choice. There is a wide selection of investment options to choose from and range from conservative to aggressive.
  • Account access. Account tools are available at your fingertips through the Sun Life member website or the Sun Life Customer Care Centre toll-free number.

Withdrawal of Contributions

  • You may make a withdrawal/transfer from your Group RRSP at any time, however, there is a $25 fee for each withdrawal/transfer (please note that there is no fee for transferring between different investment options).
  • You will also pay withholding tax of 10-30% depending on the amount withdrawn as per requirements by the Canada Revenue Agency.
  • Any additional tax owed will be collected from you by CRA when you file your income tax return at the end of the year.

Sun Life Contact

Questions???? Feel FREE to contact Sun Life or the University of Winnipeg Human Resources Office.

There are two easy ways to connect with Sun Life Financial.

Call Sun Life from anywhere in Canada or U.S. toll-free at 1.866.733.8612. This number will direct you to the Sun Life Financial Customer Care Centre, where a representative is available to assist you every business day from 7:00 A.M. to 7:00 P.M.

Visit the Plan Member Services website anytime.
Note, if you have not accessed your Member Services account within a one year period, you will be required to reset your password. If you have misplaced your access ID or password, please contact the Sun Life Financial Customer Care Centre.

▲Back to Top▲

Back to Benefits Home Page

Back to Human Resources Home Page