Group Retirement
With the changing retirement landscape and the uncertainty over the long term viability of government sponsored pension plans, thinking about your employees retirement is a move in the righ direction. A 2018 survey by the Royal Bank of Canada found only 38 per cent of millennials are actually saving for retirement, despite 46 per cent indicating it as a top financial goal.
If you are thinking about Group Retirement plans, chances are that you place a significant emphasis in attracting new employees and increasing employee retention through a robust, total compensation package that includes health, wellness and retirement. Whether your company is in the growth or maturity stage of a business life cycle it makes sense to help your employees plan for their retirement.
In order to devbeop an appropriate group retirement plan, we need to take into the account of the following: contribution levels, contribution flexibility, vesting and eligibility, admin and costs. Group RRSP is an example of employer-sponsored retirement savings plans.
Please get in touch with our team to explore your options.