Hi Toronto Consultants - I am curious to learn about Pension Plans offered by various companies. Lot of companies offer RRSP contributions - but there is little information about pension plans (Defined Contribution or Defined Benefit) offered by employers. Please share about your employer.

Deloitte offers DC pension plan and matches 2-6% of your contribution to the plan.

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McKinsey is defined contribution, 7% of total comp without matching. So they contribute regardless of whether you contribute or not

Sorry yes, rrsp contribution I mean.

I think DB plans are no longer offered unless you are working for government ( fed, prov or muni) , some banks . People continue to be grandfathered into DB though

As for DC, in Tech , I have seen it range from 4 to 7% , with most at around 5% match provided employee matches.

There are also nuances around whether you have access to that money when you leave the employer. Eg: the money can either be locked in or not, depends on how the employer has designed the program

That’s true! Most of the DB plan are only offered by government and 1 or 2 banks.

Believe Bain is 10% (no matching)

Towards RRSP or Pension plan?

PwC is about 1 - 1.5% match (I think it’s actually a 25% match on up to 6% contributions or something like that)

Omers has a good pension if you want to move in that direction

Omers is hard to get into :(

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