As an eligible employee of a participating employer, you pay a fee of 0.6% of assets. For comparison, the average mutual fund fee in Canada is over three times higher at more than 2% per year. This low fee for Common Good can make a dramatic difference in how much money you save for retirement.

These are all-in fees and cover: 

  • Investment management 
  • Plan administration
  • Custodial fees and other costs associated with running the plan

Your employer, as the plan sponsor, pays a fee of $10/month for each employee who is enrolled in the plan. This fee covers: 

  • Common Wealth’s digital retirement planning technology
  • Employer service (e.g., onboarding, payroll deduction)
  • Member service (e.g., inquiries, one-on-one member support)
  • Education for you and your employees

If you join as an individual or leave your employer but remain in the plan, you pay a fee of 0.7% of assets and a $3/month membership fee.

Transaction and processing fees of $75 per transaction are charged for fund withdrawals or transfers out, and death and marriage breakdown processing. For non-sufficient funds (NSF) transactions, the fee is $40. 

We don’t charge any fees to transfer existing RRSP or TFSA assets into the Common Good Plan, although the financial institution a member is transferring out from may have fees associated with the transfer of those funds.