My employer in Canada has given me the option to enroll in an RRSP, DPSP, or TFSA. I've come across RRSP's and TFSA's before but I am intrigued by the DPSP (Deferred Profit Sharing Plan).
Details are as follows.
When can I join?
On the first day of any month after you've completed 3 months of employment.
How much do I contribute?
You don't contribute to this plan.
Who decides how contributions are invested?
You decide how all contributions are invested.
What happens if I leave my employer?
The full value of all contributions and investment earnings are yours once you complete 2 years of membership.
From what I can tell, I have nothing to lose. If the company declares a profit, I get "extra income" else I don't. I understand that none of this will vest if I leave before completing two years as a plan member.
Is there any reason I shouldn't be enrolling in this plan?