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Q6 Single choice

Your employer has a contributory group RRSP under which he matches employee contributions, up to a maximum of 5% of salary.

Which of the following statements about a group registered retirement savings plan (RRSP) is CORRECT?

A
It is more costly and time consuming to administer than traditional pension plans.
B
If you leave your employer, your group RRSP stays with the employer.
C
You need to wait until you file your taxes to receive your contribution tax deduction.
D
The employer chooses the plan provider.

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