In some cases, your employer may want to contribute to your Registered Retirement Savings Plan (RRSP) on your behalf. We're here to help make this process as easy and seamless as possible.
Step 1: Ensure you have funded your account
Before your employer can contribute, ensure that you have made a personal contribution to your RRSP. This is necessary to generate your account number. You can start with as little as $1, and your account number will be generated once you've funded your account.
Step 2: Retrieve Your Account Number
If you've already funded your RRSP and at least one month has passed, you can find your account number in your monthly statements. These statements are the easiest way to retrieve the account number needed for your employer to make their contribution.
Your account number typically consists of 9-10 digits, often beginning with "100."
If you are unable to locate your account number after following Step 1, please contact the OneVest support team for assistance.
Step 3: Send via Your Employer's Preferred Method
Once you have your account number, your employer can contribute to your RRSP through one of three methods. It is recommended that you notify the OneVest support team of the incoming transfer so we can ensure the contribution is properly directed to your account.
Contribution Methods:
By Cheque
Your employer can write a cheque payable to "CI Investment Services Inc." with your name and account number included in the memo field. The cheque can be mailed to the following address:
CI Investment Services Inc.
ATTN: Back Office
15 York St, 2nd Floor
Toronto, ON, M5J 0A3
Although sending a cheque is a simple and reliable method, it may take longer due to the manual processing involved. We recommend sending the cheque via registered mail to ensure proper delivery.
By Bill Payment
Your employer can initiate an electronic bill payment via their financial institution to "CI Investment Services Inc." and reference your account number. This is typically the fastest and most straightforward method for making the contribution.
By Electronic Funds Transfer (EFT)
Your employer can also make a contribution via Electronic Funds Transfer (EFT) by directly contacting our support team. However, this method is less common, as it requires employers to provide their corporate bank account details.
Disclaimers:
*This article is not to be construed as an offer to sell, a solicitation for, or an offer to buy, any products or services referenced herein (including, without limitation, any commodities, securities, or other financial instruments), nor shall such information be considered as investment advice or as a recommendation to enter into any transaction.
**This article does not represent a tax or investment strategy recommendation. You should consult with a tax advisor or financial professional to ensure this is the right move based on your personal financial situation.
***Manzil Invest is a strategic partnership between Manzil and OneVest Management Inc (“OneVest”). OneVest offers wealth management products and services to Manzil customers. OneVest Management Inc. is a registered Portfolio Manager in each of the provinces and territories of Canada and as an Investment Fund Manager in the provinces of Alberta, Ontario, Newfoundland and Labrador, and Quebec. Assets in your OneVest accounts are held with various custodians, each registered as an investment dealer with the applicable securities regulators. All custodians are members of the Canadian Investment Regulatory Organization (“CIRO”) and the Canadian Investor Protection Fund (CIPF). OneVest is a wholly-owned subsidiary of OneVest Technologies Inc. All trademarks are the property of their respective owners. OneVest will determine what investments are suitable for you.