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Corporate Wealth Management Products |
Group RRSPs (Registered Retirement Savings Plans)
Allows your company to offer a benefit that makes it easy for employees to save. They reduce the amount of taxes paid as both employee and employer contributions are made on a pre-tax basis. Group RRSPs give a powerful vehicle for tax-free compounding and in addition the benefit of paying yourself first.
Group DPSPs (Deferred Profit Sharing Plans)
These plans may be used as a pension plan or as a supplement to a company's Group RRSP. The employer may contribute an amount "out of profits" or "related to profits", into a trust fund which will accumulate sheltered from income tax for employees. The employer's contributions are tax deductible and are not taxable to the employee until paid out. Employee contributions are not permitted into the plan and employer's contributions create a Pension Adjustment for the employee.
Group DCRPPs (Defined Contribution Registered Pension Plans)
These plans are formal arrangements made by an employer in order to provide employees with a monthly income on retirement. Legislation requires the employer to contribute to the plan. The plan may be set up with the employee as "contributing" or "non-contributing". DCRPPs must follow pension laws, are creditor-proof and create a Pension Adjustment.
Group Registered Education Savings Plans (RESPs)
Group RESP are a popular way for employees to save for their children’s education. Although contributions are not tax deductible, Group RESPs allow tax sheltering of investment growth as well as a government grant worth up to 20% of an employee’s annual contribution to a maximum of $400 per year per child.
Individual Pension Plans (IPPs)
IPPs are ideally suited for individuals who feel their retirement income may be insufficient because of their RRSP contribution limit or the benefit structure of their company’s pension plan. Typically the plan is suited for key executives of an organization, self-employed professionals, or owner – managers.
Group Non-Registered Payroll Savings Plan
A Group Non-Registered Payroll Savings Plan deducts contributions directly from your company’s payroll to invest in a suitable mutual fund. Employees’ savings are always accessible and have the potential to grow considerably faster than they would in a savings account.
Group Benefits Plans
Plans may be tailored from a full range of benefits covering Individuals, Spouses and other Family members which would include - Life, Extended Health Care, Dental and Vision Care, Disability (short and long term).
Note: We are independent brokers who are not tied to any one company's products. Thus we can shop the market to develop a program that best suits the needs of your company.
For more information, please contact: Carol Clements at (905) 642-4540.
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