The Canadian Baptist Pension Plan (CBPP) is an important and valuable part of your compensation, and a key tool to helping you save for your retirement.
The CBPP is a defined contribution (DC) plan, contributions are fixed, but your pension depends on your account balance at retirement. Making regular CBPP contributions via payroll deduction is a convenient and easy way to save for the future. And when you contribute 6% of your earnings to the CBPP, your employer matches that contribution, automatically doubling your plan investment!
As a member of the CBPP, you also have access to a tax-free savings account (TFSA) to help you save even more toward your financial future.
For more information, refer to the TFSA overview.