Planning for and keeping track of the income you’ll have for the future starts today. To help you reach your retirement goals, you can contribute and invest your own money through the Registered Retirement Savings Plan (RRSP).
All full-time employees are eligible to enrol in the plan starting on their date of hire. Learn more about Sun Life’s RRSP here.
Contributions:
- You can contribute 1% to 4% of your base salary (including overtime pay and bonuses) and any additional voluntary contributions up to your individual CRA limit.
- In 2025, the contribution limit is 18% of earned income you reported on your tax return in the previous year, up to a maximum of $32,490.
- Contributions are made through payroll deductions, and you can change the amount you contribute at any time through the Sun Life portal.
Matching funds:
- Rivian matches 50% of your regular contributions (i.e., up to 4% of your base salary), for a maximum match equal to 2% of your earnings.
All funds are immediately vested. You’re responsible for monitoring your individual RRSP limit (see your notice of assessment by the CRA). Your RRSP limit includes retirement contributions made by you and Rivian.
Investing your money
You choose how to invest your money in a variety of funds, including some socially responsible investment options. If you do not make an election, your money will be directed to the Continuum Target Date Fund closest to your 65th birthday. You can change your investment selections at any time online through Sun Life’s portal.
Making withdrawals
Withdrawals of both your and Rivian’s contributions are only permitted per CRA’s Home Buyer’s and Lifelong Learning Plans. Otherwise, withdrawals from the plan are not permitted while you’re employed.
What happens when you retire or leave the company
When you leave Rivian, you’ll receive a statement with the current value of your account and available options, which includes maintaining your account with the plan carrier, moving your funds to another investment company or cashing out the balance (applicable taxes will apply)
Need help?
Sun Life has a variety of services and support to assist you with your retirement planning and saving.
- Visit Sun Life to create an account
You can also contact Sun Life at 1-866-733-8612 for assistance. Whether you lead a life of adventure or not, accidents can happen. Be prepared with life insurance and accidental death and dismemberment (AD&D) insurance that provide financial protection to you and your family.
