Looking for simple ways to save money? At Circle of Care, we offer group savings programs designed to help you build your savings while employed with us. It’s an easy and supportive way to reach your financial goals.
Starting now, you can choose to enrol in our tax-free savings account (TFSA) through RBC.
How the group savings program works
The TFSA and RRSP programs are voluntary and available to all PSWs and Homemakers. The program is a matching program, meaning that for every dollar you contribute, Circle of Care will match it with a dollar of their own, up to the maximum amount. If you don’t contribute any money, Circle of Care won’t either, but if you put in the maximum amount, Circle of Care will match that too.
The maximum annual matching limit is:
- $450.00 for full-time employees
- $300.00 for part-time employees
If you choose to participate, Circle of Care will deduct a set amount each pay period and deposit it into your RRSP or TFSA. We will also add an equal matching contribution, up to $450 for full time staff, and $350 for part time staff.
This is a combined amount for the TFSA and/or RRSP. You can choose how the funds will be deposited–into your TFSA, RRSP, or a combination of both. This is part of Article 24 of the Collective Agreement.
What should I do if I have an RRSP account, and want to enrol in the TFSA?
If you currently have an RRSP account, please let Payroll know by June 5, 2026. You’ll be able to choose how the funds will be deposited between your RRSP and TFSA.
If you do not notify Payroll by this date, you will automatically receive Circle of Care’s contributions into only your RRSP for this year. This is based on your current full-time or part-time status. You will need to wait until next year to choose how your funds will be deposited with Payroll.
To learn more, please visit the RBC Group RRSP & TFSA page on the PSW Portal using the button below.
Support available
Member booklet: Wondering if the program is right for you? Review the member booklet for more information about the group savings programs. It explains what the program is and how it may help you reach your financial goals.
Speak with an advisor: You can call or book a 1:1 virtual meeting with our dedicated RBC advisor team. They are here to help you enrol in the program and answer any questions.
RBC Member Support Line: 1-888-769-2566
RBC Relationship Manager, Lucas Bosnjak: lucas.bosnjak@rbc.com, 647-241-2047
You can use the button below to book an appointment online.