Go to the Globe and Mail homepage

Jump to main navigationJump to main content

 

 

Types of workplace savings plans

Three things to know about Employee Savings Plans Add to ...

An ESP is a non-registered account that your employer sets up to help you save.

Three things to know about ESPs

  1. You decide how your money is invested from the investment options your employer makes available.
  2. It’s not a registered plan, so your contributions are made from your after-tax earnings. Investment earnings such as interest income, dividends, or capital gains are taxable to you each year.
  3. The plan may restrict withdrawals or impose fees for making withdrawals, so understand the details of your plan before you sign up.

Content in this section is provided in partnership with Investor Education Fund, a non-profit organization founded and supported by the Ontario Securities Commission that provides unbiased and independent financial tools to help Canadians make better money decisions. To find out more, go to: GetSmarterAboutMoney.ca

More Related to this Story

Follow us on Twitter: @GlobeInvestor

In the know

Most popular video »

Highlights

More from The Globe and Mail

Most Popular Stories