Like major companies that aim to be ‘best employers’, small and mid-sized businesses are seeing the importance of attracting and retaining loyal, long-term employees.
To do so, companies introduce a range of appealing employee benefits, such as group retirement plans.
Group retirement plans offer employers and their employees professional investment management, diversified investment options, understandable educational material and reliable plan administration - all important components in saving for retirement. Plans are easy to understand, simple to administer and flexible to meet the varied needs of employees.
Solutions available include group RRSPs, deferred profit sharing plans and registered pension plans. The plan most appropriate for Business Members will depend on their human resource philosophy, plan objectives and employee needs.
The ideal candidates for the group retirement plans are profit and non profit organizations with a minimum of 3 employees and who are willing to help their employees save for retirement by making regular contributions.
The right person to have the conversation with is the key decision maker of the organization or the business owner.
We want business owner members to recognize the potential value of group RRSP/benefit plans for their employees. Employee turnover is a huge liability for companies. As a part of an employee retention plan, group retirement savings solution is an important component for their overall business strategy.
A group retirement savings solution can provide valuable benefits to their organization and employees. Here’s how:
Please contact your local Wealth Protection Specialist for more information on this valuable service for our Business Members.