District 3 Savings Plan

USW District 3 has negotiated a “District 3 Savings Plan” with Co-operators Group Retirement & Savings that provides a Group Registered Retirement Savings Plan (RRSP) plan for our members, for those who are not able to negotiate a traditional pension plan. Co-operators is a leading provider of financial products and services for the Canadian credit union system and their members.

There are two ways to access the Group RRSP:

  • By joining the plan because of a collective agreement
  • By joining on an individual basis

The USW District 3 Savings Plan delivers a consistent solution across the district and is governed by members in the plan. The Group RRSP plan rules and the investments are designed with our member’s needs in mind. Plans are established for an employer following the negotiation process, and contributions owing to the plan are determined by the collective agreement. USW District 3 members are immediately entitled to 100% of all employer and member contributions made to the plan.

Investment option fees under the program are significantly reduced due to the economies of scale achieved. Lower fees provide increased savings for our members at retirement.

For example, the typical retail balanced fund carries an annual fee in the range of 2.00% – 2.50%, while the balanced funds in the District 3 Savings Plan have an annual fee of 0.75% to 0.80%.

District 3 members can also boost their own personal savings by completing an RRSP application, TFSA application form, or both. Co-operators has arrangements with experienced fund managers who offer a diversified fund line-up. The investment options available to our members are:

Money Market
Co-operators Money Market Fund

Yield Pass Through
Co-operators Retirement Security Fund

Fixed Income
Co-operators PH&N Bond Fund

Co-operators MFS Balanced Fund
Co-operators Mawer Balanced Fund

Canadian Equity
Co-operators Mawer Canadian Equity Fund
Co-operators Bissett Canadian Equity Fund
Canadian Dividend and Income Equity
Co-operators PH&N Dividend Fund

Foreign Equity
Co-operators Mawer U.S. Equity Fund
Co-operators Mawer International Equity Fund
Co-operators Global Equity Fund

Co-operators MFS LifePlan Retiree Fund
Co-operators MFS LifePlan Retirement 2025 Fund
Co-operators MFS LifePlan Retirement 2030 Fund
Co-operators MFS LifePlan Retirement 2035 Fund
Co-operators MFS LifePlan Retirement 2040 Fund
Co-operators MFS LifePlan Retirement 2045 Fund
Co-operators MFS LifePlan Retirement 2050 Fund
Co-operators MFS LifePlan Retirement 2055 Fund
Co-operators MFS LifePlan Retirement 2060 Fund
Co-operators MFS LifePlan Retirement 2065 Fund

Asset Allocation
Co-operators Heritage™ Very Conservative Portfolio
Co-operators Heritage™ Conservative Portfolio
Co-operators Heritage™ Moderate Portfolio
Co-operators Heritage™ Aggressive Portfolio
Co-operators Heritage™ Very Aggressive Portfolio