Companies can help their employees save for their future financial security through a Group Retirement Savings Plan. These plans include Group RRSPs, Deferred Profit Share Plans (DPSP), Defined Contribution Pensions, Group TFSAs and more!
Group RRSP
Similar to an individual RRSP, a Group RRSP allows employees to contribute a portion of their pre-tax income towards their retirement savings, which is then invested in a variety of investment options chosen by the plan sponsor and employee.
Benefits
Employee Flexibility
Tax Advantages – Portability
Defined Contribution Pension Plans
Employer-sponsored retirement savings plan where both employers and employees contribute funds, and the ultimate retirement benefit is determined by the contributions made and the investment performance of those contributions.
Benefits
Portability – Vesting
Investment Flexibility
Deferred Profit Share Plan
Allows employees to share in the profits of the company. In a DPSP, employers contribute a portion of the company’s profits to the plan, which is then distributed to employees at a later date, typically upon retirement or termination of employment.
Benefits
Vesting Period – Tax Advantages
Controlled Contributions
Group TFSA
TFSAs are typically thought of as individual savings vehicles, group TFSAs extend this benefit to a group of employees within an organization, offering a collective approach to building tax-free retirement wealth.
Benefits
Tax Free Growth – Employee Control
Employer Contributions
Get Started Today
Providing your workforce with a valuable benefit that helps them achieve their long-term financial goals is important to your employees. With a customized group retirement plan, you can offer your team members a powerful tool for building wealth and security for retirement while attracting and retaining top talent in a competitive job market.
Whenever you are ready to take the next step towards in empowering your team’s retirement journey, we are here to provide options that meet your needs. Effective solutions, one on one support (no corporate culture of waiting days on end for help), advisors who care, Barnett & Associates.
Employee Savings Plans
Deferred Profit Sharing Plans
Defined Benefit Pension Plans
Defined Contribution Pension Plans
Group Retirement Savings Plans
Individual Pension Plans
Retirement Compensation Arrangements