Navigating Group Retirement Savings Plans
Nearly half of all Canadians have no retirement savings. Offering a Group Retirement Program can be an effective tool to help employees save for the future while simultaneously increasing employee retention.
Navigate Benefit Solutions offers both Registered Pension Plans (RPPs) and Registered Retirements Savings Plans (RRSPs).
Registered Pension Plans (RPPs)
There are two types of RPPs: Defined Contribution and Defined Benefit. In a Defined Contribution plan, all contributions are guaranteed, but the retirement income is not. This is the most common type of RPP. In a Defined Benefit plan, the pension plan promises to pay a certain amount of retirement income for life.
Registered Retirement Savings Plans (RRSPs)
Group RRSPs can offer advantages such as lower management fees, no minimum contributions and a customized employer-match programs.
Regardless of the plan, we take a consultative approach to determine which approach suits your company’s needs best. Both plans offer employers and employees contributions accumulating on a tax deferred basis.
Schedule a Consultation
We are devoted to helping our customers succeed. We have the most knowledgeable team of experts in the industry and we’re ready to help you achieve your goals. Speak to one of our Navigators to discuss group retirement plan options to help meet your business needs.