About your Savings Plan – a Non-Registered Savings Plan (NRSP)
Participation
Participation in the NRSP is optional for all full-time and part-time employees. If you decide to join, access the Benefits Center to set-up your contributions to the plan.
Contributions
You may contribute up to 25% of your base salary using after-tax dollars. Your contributions can be made with available Flex Dollars in addition to payroll deductions.
NOVA Chemicals will match your contributions as follows:
Investments
You must choose how you want your assets (your contributions and NOVA Chemicals’ matching contributions) invested. You are encouraged to take an active role in selecting the investments that best suit your financial goals, your investment style and tolerance for risk.
A complete list of investment options available through the plan including the investment objective, investment style, historical performance where applicable and associated fees is available in the Investment approach section of this website.
If you do not provide investment instructions, contributions will be deposited in the plan’s default investment – MLI Canadian Money Market Fund.
Frequently Asked Questions
Can I withdraw savings from my NRSP account?
You may withdraw savings from this plan at any time. There is no fee for the first withdrawal made each calendar year. Subsequent withdrawals are charged to you at a rate of $25.00 per withdrawal.
Can I transfer funds into my NRSP account?
Transfers into this plan are not permitted.
Can I make lump sum deposits into my NRSP account?
Lump-sum contributions are not permitted.
What happens if I terminate employment or retire?
If you terminate employment or retire, you are immediately entitled to accumulated value of your account. This may trigger a taxable event.
What happens if I die?
In the event of your death, your beneficiary(ies) is entitled to the accumulated value of the account.