DPSP, or deferred profit sharing plan, is the other half of the savings plan offered at PetSmart. This is the free money PetSmart gives you for investing in your future! Once you have completed 2 months of service and have enrolled in both the RRSP and DPSP. PetSmart will match your contributions up to 4% of your earnings. DPSP plans are not taxable benefits and the investments remain tax sheltered until retirement..
- The match is done each pay period and can be viewed on the bottom left of your pay statement .
- Your vesting, or “ownership,” of the money PetSmart contributes is based on your years of service. After two years of continuous employment, you are entitled to the accumulated value of PetSmart’s contributions.
- If you don’t make an investment election, you will be defaulted into Fidelity Clear Path Fund (“FCPF”) and we will contact you to make an election.
How to enrol
To enrol, follow the steps in the Enrolment Express Guide. If you have any questions or concerns, contact Canada Life’s Access Line, Monday to Friday between 8 a.m. and 8 p.m. ET at 1-800-724-3402.
Frequently Asked Questions
All associates can join after 2 months of employment.
You do not contribute to this plan however the contributions to this plan are included in your CRA Limits.
Click here for a step by step guide. If you require assistance, please contact Canada Life at 1-800-724-3402.
No, DPSPs are only available to associates.