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Retirement Savings

Retirement savings plans help employers support employees in saving for retirement. By building a retirement savings plan, you are adding to your total compensation package and supporting your employees’ future.

Types of Plans

It’s important to put a plan in place. Ask the question “do you want to help your employees save for retirement,” or “how can you support them in this process”.

Group Registered Retirement Savings Plan (GRRSP)

Deferred Profit-Sharing Plan (DPSP)

Group Tax Free Savings Account

Group First Home Savings Account

Deferred Profit-Sharing Plan (DPSP)

OUR PROMISE

Where We Fit In

We build the plan around each employer’s philosophy and goals, so the plan truly fits what you need.

Leave the financial planning to a CFP. We handle the plan.

  • Set up and implement the plan
  • Manage the day-to-day of the plan
  • Support with plan member enrollments
  • Run yearly plan check-ins to keep things on track
  • Review governance and plan operations every year
  • Discuss member education sessions – for employees to feel confident choosing their own investments
  • Ensure you (the employer) are following the appropriate guidelines
  • Provide ongoing support, such as being the connector between the employer and the provider, handling withdrawals, transfers and member service issues, reviewing the market during both good & bad times

Pensions Vs. Retirement Savings Plans

We build the plan around each employer’s philosophy and goals, so the plan truly fits what you need.

Understanding the difference between Pensions versus Retirement Savings Plans.

Pension Plans

  • Pensions provide retirement income.
  • Pensions are employer-sponsored.
  • Pensions are heavily restricted and regulated.
  • Pensions require mandatory employer Contributions.
  • Pensions fall under pension legislation.
  • Pensions are locked-in until retirement.

Retirement Savings Plans

  • Retirement Savings Plans help you accumulate enough savings for retirement.
  • RSPs can be employer or individually sponsored (i.e. matching contributions).
  • RSPs are super flexible.
  • RSP contributions can vary – however, we don’t suggest this.
  • RSPs fall under general tax legislation.
  • RSP withdrawals are possible.

Key Difference: Pension Plans carry very heavy regulatory requirements, so advisory oversight is important.

Let’s Build a Better Benefits Experience, Together.
Not sure which plan fits your team? Let’s talk about what’s right for your business.
BOOK A CONSULTATION

or call us at 604.531.7979