Pension and Retirement Plans2019-04-24T11:08:52-06:00
Pension & Retirement Plans
Customized for each company, Group Retirement plans can be designed with flexibility in mind. Some of the plan design options that your Aurora Workplace Solutions team can create for you, include the following:
Defined Contribution Pension Plans
Employees contribute an amount or percentage of their paycheque and the employer will match a portion of those contributions.
Deferred Profit Sharing Plans
Provide more flexibility than pension plans, but offer features like vesting periods and reductions in employer payroll taxes.
Employee Savings Plans
These are low cost pooled investment accounts that is provided by an employer where employees set aside pre-tax wages for long term investing like retirement, home purchases and tax-free savings, etc.
Each of these plans has their benefits, restrictions, and challenges that may or may not work best for your unique situation. Let the knowledgeable team at Aurora Workplace Solutions help you determine how to best maximize your investments.
Group RSP Plans and the 1% Solution
Attracting & Retaining Employees
Instead of giving a 3% cost of living pay increase consider giving your employees a 2% pay increase + 1% into a Group RSP plan.
The Group RSP contribution goes in pre-tax so the employee gets the full value of the money and the income tax is reduced on each pay period.
GRSP programs have much lower fees than banks and employees can start growing their retirement savings today!
Be the Employer of Choice
Offering your employees the option of a GRSP, increasing contributions by 1% each year for 8 years could drastically increase an employees retirement savings!
Our Group Benefits Clients
We provide Group benefit plans for a wide variety of clients, with varying group sizes.Our clients include:
Farmers and Farming Corporations
General and Trades Contractors
Ready to talk?
If you are interested in setting up a group benefit or retirement plan, or just want to learn more about our services, we would be happy to connect!
We implement and manage Group Benefits for our clients. There are a variety of benefit options available, including coverage for prescriptions, paramedical services, vision, dental, ambulance, and travel.
As a value-added service, our knowledgeable team will provide Benefit seminars or luncheons for our clients. These functions help to educate employees on their specific plan design and answer any questions they may have.