Small Business Retirement Plans
What is a Group Pension?
Many Canadians today do not have enough savings for their retirement. Group Pension Plan is offered by the employer and is set in place to help employees better plan for their retirement goals. There are many benefits to choosing a group plan for your employees than having them save on their own.
What are some of the advantages of considering a group pension plan with us?
- It is cost-effective and it offers tax advantages and lower fees compared to individual savings plan
- Employees can take advantage of the automatic payroll deductions and avoid surprises when they retire
- We design plans that fit your company regardless of its size
- We help select the right investment options to meet your retirement goals
- We inform and educate your members on the benefits of the plan and assess their risk profile
What Retirement Plans do we offer?
- RPP: A Registered Pension Plan is a tax-deferred savings vehicle that allows contributions to accumulate tax-free for use as retirement income at a later date.
- RRSP: A Registered Retirement Savings Plan is intended to encourage members to save for retirement by allowing them to defer paying income tax on contributions and savings until money is withdrawn.
- DPSP: A Deferred Profit Sharing Plan is designed to reward good performance and create a sense of partnership between the plan sponsor and the members of the plan. This plan type is only available as a group arrangement.
- VRSP: A Voluntary Retirement Savings Plan is Quebec’s version of the Pooled Registered Pension Plan introduced by the Federal Government in November 2011. In spring of 2012, Quebec announced its plan to implement the VRSP, and at that time, the legislation proposed all businesses with five or more employees will be required to offer a workplace savings plan.
We invite you to visit the resources section of our website where you can find tools and calculators to help you envision your retirement goal.
Contact us for more information or to schedule a meeting