A group retirement and savings plan can be tailored to the needs of your business and your employees’ financial goals.
Offering a group retirement and savings plan can be an affordable and effective way to attract, motivate and keep employees, while helping them save for their retirement. But it’s not just about your employees. There are real benefits to your company when you offer a plan.
A group retirement plan is set up by an employer for employees as a workplace benefit. Employers offer the plan because their contributions are tax-deductible, and the plan acts as an employee incentive.
Employee contributions are invested in preselected investments offered under the plan and when they are, employers often match a percentage of the contributions. For employees, it’s an easy way to save for retirement or other goals.
Benefits for your employees
Benefits for your business
Our experts can help you figure out an approach that works for your business.
Let’s take a look at the different plans you can offer. We can build a solution that works for you from an extensive investment fund lineup.
Our experts can help you figure out an approach that works for your business.
These funds are designed to help pre-retirees protect and grow their hard-earned savings. They help guard against market volatility and inflation while still participating in growing markets.
Employees receive a matching contribution, up to a maximum, to their retirement savings account within their employer’s group RRSP for every payment they make to their Canadian or provincial government student loan.
A registered education savings plan allows employees to set aside money for a child who can use the funds to pursue a post-secondary education. The contributions in the plan grow tax-free until withdrawn to pay for eligible post-secondary education.
All-in-one investment solutions designed to balance risk and returns while investing responsibly towards a more sustainable future.
When members leave their group retirement and savings plan they face important decisions about what to do next with their savings. The Freedom Financial ™ NextStep™ plan is the quickest and easiest way for employees to leave your plan, while still allowing them to continue using the savings plan and habits they’ve built with your company.
Available and mandatory in some cases for employees working for small- to medium-sized businesses in Quebec that don’t currently offer a RRSP, TFSA or pension plan through payroll deductions. You don’t have to worry about most of the administrative obligations and responsibilities because Canada Life will be the plan administrator.
Looking to outsource your defined benefit pension plan management responsibilities?
Delegate the day-to-day actuarial and pension administration and investment decision-making of your defined benefit pension plan to a team of experienced specialists with our Outsourced Chief Investment Officer Plus solution (OCIO+).
Email us to learn more about OCIO+Our experts can help you figure out an approach that works for your business.