Benefits - Neucel

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Pulp Industry Pension (.pdf)

Benefits

Neucel Specialty Cellulose Group Savings Plan

Group RSP Benefits.pdf

Overview of your plan

This overview is intended to provide a high-level summary of your plan details. For detailed plan provisions, refer to your Employee booklet. Your Registered Retirement Savings Plan (RRSP):

What type of plan is this?	Group RRSP
Who is eligible to join the plan?	Regular full-time employees
When can I join the plan?	Immediately
Am I required to contribute to the plan?	Membership is non-compulsory
What will Neucel contribute to the plan?	Neucel will match your required 5% contribution. Additional Incentive: By trading one week of vacation, the employee will gain a 2.5% increase in employer contribution. This takes the employer contribution up to 7.5% while the employee’s stays at 5%.
Can I make optional contributions?	You may also make optional contributions to your plan. Neucel does not match your optional contributions. Tax Tip - You need to consider the RRSP contribution limit. Your carried forward room can be found on your Canada Revenue Agency (CRA) Notice of Assessment. For 2006, the contribution limit for RRSPs is 18 per cent of the previous year's earnings to a maximum of $18,000.00.
What investment options do I have?	You can invest in a wide range of Guaranteed Interest Accounts (GIAs), similar to GICs, and segregated funds. Refer to the Group Investment Report for more investment information.
Can I withdraw any money?	You may not withdraw employer-required contributions while you are employed. Tax tip - If you withdraw money from an RRSP, it becomes taxable income for that year.
What happens if I terminate employment?	You are entitled to the full value of your account. Tax tip - Transfer the assets of your RRSP to another registered plan to maintain its tax-deferred status. Speak to Manulife Financial to discuss your options.
What happens if I retire?	Your normal retirement age is 65. When you retire, you are entitled to the full value of your contributions and Neucel’s contributions.
What happens if I die?	If you die, your beneficiary is entitled to the full value of your contributions and Neucel’s contributions.
What are the tax advantages of this plan?	You defer paying tax on both your own and Neucel’s contributions until you withdraw the money. Usually this happens when you are retired, and your regular income has stopped.
What are some other advantages to joining a group RRSP?	Convenient payroll deduction Competitive investment management fees Dollar-cost averaging On-line access to your/your spousal account information Access to services and support when it’s convenient for you

Every effort has been made to include up-to-date and accurate plan information, however, plan details may change because of legislative changes or amendments to your plan. The provisions outlined in the plan documents for your Group Retirement Program will take precedence over any provisions outlined in this chart.