Group savings

Group savings

Are you thinking of offering or contributing to your employee’s retirement plan? You should be aware of the fact that plans can be drawn up in different ways. There are two main categories of group savings: predetermined benefits or predetermined contributions, depending on the payment option chosen. Whatever your choice, our team of advisors will guide you to a successful conclusion.

Advantages

• It favours a stable employee environment at the heart of your company. The retirement plan constitutes an important factor in determining motivation and compensation
• To take full advantage of compensation: The employer does not have to pay payroll taxes on the salary increase if it is paid into the employee’s group savings plan
• To help to build a more healthy financial situation for your employees at retirement
• To save on management fees; a group pension plan is less costly compared an individual plan
• Immediate tax savings; tax savings over time allows for more money to be saved over the long term