Group Pension Plans

With or without your contribution, it is always a plus to offer your employees the opportunity to save for their retirement at their own pace. Talk to your advisor, there is at least one option that will work for you.

Different types of group pension plans

Each company has different constraints and goals. Our group insurance and pension advisors are here to help you choose the right products for your business.

Group RRSP

The Registered Retirement Savings Plan (RRSP) allows contributions to the plan to grow tax-free. Contributions are collected directly at source and allow employees to lower their tax payments.

As an employer, you can decide whether or not to pay an additional percentage. Call an advisor to see if this plan could be of interest to you!

DPSP

The Deferred Profit-Sharing Plan (DBPP) allows you to allocate a portion of your company’s profits to your employees. As profits vary from year to year, the amount paid into the DPSP is at your discretion. The DPSP is often used as an employee retention tool as funds accumulated in DPSP are only considered acquired after a predefined period (often one or two years). Call an advisor to see if this plan could be of interest to you! 

SPP

The Simplified Pension Plan (SRP) is a defined contribution plan. It gives you the flexibility to design a plan that works for you and your employees. Contributions to SPPs do not incur payroll taxes, which is a considerable asset for SMEs. Call an advisor to see if this plan could be of interest to you!

VRSP

The Voluntary Retirement Savings Plan (VRSP) allows your employees to contribute to their retirement on a voluntary basis. You must offer a VRSP if you do not offer a Group RRSP or TFSA. Call an advisor to see if this plan could be of interest to you!

Group TFSA

The Group Tax-Free Savings Account allows your employees to achieve a variety of goals with tax-free transferred income and withdrawals. Contributions may be made by employees and/or the employer. Call an advisor to see if this plan could be of interest to you! 

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