- 1959 Upper Water Street Suite 407 -Purdy's Wharf Tower 1 Halifax, NS, B3J, 3N2
- 1-902-877-6555
- geoff@equisgroup.ca
Group Retirement Plans
Halifax, Nova Scotia
Employers can help attract and retain high quality employees by offering a group retirement package. These plans allow employees to payroll deduct a percentage of their salary into a group plan. Most employers match the contribution made by the employee up to a pre-determined percentage of the employee’s income. Running the plan is simple. The main benefits to employees are:
- Payroll deductions for immediate tax benefits
- Employer matching helps enhance the contribution amounts
- Preferred group pricing for fees on the investment options
- Online access
Employees need help with retirement planning. Too often, we see employees in their 40’s who have not started a retirement plan. Unless they hit the lottery, these people will be working into their 70’s. Will they be working for you?
The 4 most common Group Retirement plans are:
RRSP – Registered Retirement Savings Plan
- Great for small companies that are on a budget
TFSA – Tax Free Savings Account
- Great add-on to a Group RRSP for companies looking for even more saving options for employees
RPP – Registered Pension Plan
- Great for companies that want to pre-define the contribution amounts
TFSA – Tax Free Savings Account
- Great for companies that want to use profit-sharing to incentivize employees.