Marvell's comprehensive benefits package enables you and your family to live healthy lives and save for your future through our RRSP and DPSP options. It's never too late or too early to start saving or increase your saving for retirement!
| Registered Retirement Savings Plan (RRSP) | Deferred Profit Sharing Plan (DPSP) | |
|---|---|---|
| Who is Eligible | All full-time employees may join the plan immediatel. Interns and part-time employees working under 30 hours per week are exluded. | All full-time employees who join the RRSP plan are eligible to join the DPSP plan to receive the Company Match. Interns and part-time employees working under 30 hours per week are excluded. |
| Employee Contributions and Match | You can contribute a regular amount up to 5% of your earnings. Voluntary contributions above 5% are permitted up to your CRA maximum but do not qualify for an employer match. |
Marvell will match your regular contributions, up to 5% of your earnings, to an annual maximum of $5,000. The Marvell match will be immediately vested. |
| Definition of Earnings | Basic salary including overtime and bonuses | Basic salary including overtime and bonuses |
Review the Canada Life Member Booklet about the RRSP & DPSP programs here.
How to Enrol in Your New Retirement Savings Program
Use enrolment express to join. All full-time employees need to enroll in both the RRSP and DPSP programs. Enrolment is not automatic.
Go to mycanadalifeatwork.com and sign in to your retirement and savings plan.
- For New Hires: Sign in with the Guest Access ID: 9977798 and Password: V29RDpuf. Click Enrol to join and be sure to enrol in both the RRSP and DPSP programs. The tool will guide you through the enrolment process. Watch this short How To Enrol Video for more tips.
- For Employees with existing DPSP plans: Log in with your GroupNet email address and password. Here is a guide to assist you in setting up your account.
Your Contributions and Match
Employee Contribution
Your regular and voluntary contributions will be withheld at the deferral rate you select every pay period, including bonus and overtime pay. Contributions are withheld pretax and funds will be posted to your Canada Life account into the investments you select. Funds will be posted on payday or the next business day after.
You can change your deferral contributions at any time by going to your Canada Life account. The cutoff to adjust your contribution is 7 days before the scheduled pay date.
Employees are responsible for monitoring their personal Canada Revenue Agency RRSP limit in order to avoid over contributing. Please refer to your Notice of Assessment by logging into your CRA My Account at www.canada.ca or calling CRA automated phone service at 1-800-267-6999.
Employer Match
Marvell with match your regular contribution, up to 5% of your earnings each pay period, to the maximum of $5,000 annually. Match funds will be posted to your DPSP account and will be immediately vested.
Recorded Training Sessions
| Session | Webinar Link / Passcode |
|---|---|
| Webinar: Learn More About Your Canda Retirement Program | Watch here Passcode: 1aj@@5gX |
| Webinar: Learn More About Your Canda Retirement Program | Watch here Passcode: 7B$GmY73 |
