NEW Student Debt Savings Program for Employees

Effective October 1, 2024, Shannex is pleased to launch a new Student Debt Savings Program (SDSP).

The new program is intended for employees who are eligible for the RRSP matching program through Canada Life and currently have student debt. It aims to make it easier for employees to reach their savings goals.

How does it work?

The program is simple. Eligible Shannex employees can either join the regular RRSP matching program where they contribute up to 5% of their pay to an RRSP and have it matched by Shannex, or they can opt for the SDSP program, where an employee would pay off their student debt instead of contributing a percentage of their pay into their RRSP. Employees will not see RRSP deductions come off their pay. Instead, they will see a contribution into an RRSP on their behalf from Shannex every year as a reward for paying off their student debt.