Eligible associates must be 18 years of age or older, classified as full-time or part-time and have completed two months of service for PetSmart.
Through payroll deductions, you can contribute up to your Canada Revenue Agency (CRA) limits. You don’t pay taxes on any of the contributions you make to the Group RRSP or Spousal RRSP. This means tax savings for you! If you make a withdrawal from either of the RRSP accounts, you’ll be taxed on the amount you withdraw.
Under Canada Revenue Agency (CRA) regulations, contributions to a Registered Retirement Savings Plan (RRSP) can only be made until December 31 of the year in which an associate turns 71. At that time, there are three options for the accumulated savings: convert the funds to a Registered Retirement Income Fund (RRIF), purchase an annuity, or withdraw the balance as cash (noting that any withdrawal will be added to the associate’s taxable income for that year). RRSP Options When Turning 71.
How to enrol
- Go to grsaccess.com and sign in with the Guest access ID and password
- Access ID: PetSmart
- Password: RRSPDPSP123
- Select Enrol now.
- Complete the steps to join the group plan
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.
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Frequently Asked Questions
All associates can join after 2 months of employment.
You can contribute up to your CRA Limits. You are responsible for monitoring your CRA Limits.
PetSmart does not contribute to this plan. PetSmart contributions go into the DPSP portion of the plan.
You decide how all contributions are invested.
Your contributions will be invested in the Fidelity ClearPath Fund with a target date that is closest to your 65th birthday.
Learn more about your investment options.
Here is a step-by-step guide. If you require assistance, please contact Canada Life (formerly Great West Life) at 1-800-724-3402.
Yes, by opening a Spousal RRSP. If you require assistance making contributions to your spouse’s account, please contact Canada Life at 1-800-724-3402.
To learn more about setting up a beneficiary, including who can be a beneficiary, and what tax implications there are, please view this beneficiary flyer with more details.