Group Retirement Savings

Our skilled advisors can guide you through the complex world of financial products, including group retirement savings plans, to help give your team the freedom to pursue their passions.

Do More for Your Team’s Financial Wellness

Show your team that you care about improving their financial wellness and reducing their financial stress. A group retirement savings plan is an easy tool to help them save for retirement and give them confidence in knowing that with your help, they’re taking important steps toward a financially secure future.

 

    • Group Retirement Savings Plan (GRSP): A GRSP is a group retirement program that allows for both employee and employer contributions. It empowers your team and you to invest effortlessly in their retirements while providing you another important opportunity to show that you care.
      • Deferred Profit Sharing Plan (DPSP): A DPSP is a group retirement savings program that enables employers to contribute business profits into their team’s group retirement savings as another means of helping take care of them. It allows only for employer contributions so it works well when paired with a GRSP, in which employees can contribute as well.  A DPSP comes with other advantages too, including that:
        • Employer contributions are not considered insurable earnings so they do not attract payroll taxes likes CPP, EI, or WCB
        • Employees cannot access their DPSP while actively employed
        • If an employee’s employment terminates prior to the defined vesting period, contributions are forfeited back to the employer
    • Registered Pension Plan (RPP): An RPP is a great tool for rewarding employees for long-term service to your business.  It offers a more structured approach to growing your team’s retirement savings by structuring employer and employee contributions to increase with years of service. And, an RPP is a sure way to help secure your employees’ financial futures because locking-in provisions ensure that the accumulated savings can only be used for income at retirement.

    Do more to ensure value for your money 

    If you already provide your employees with a group retirement savings plan, you already understand that it’s an important tool for attracting and retaining employees. After all, Canada’s retirement income crisis continues to escalate as our population ages, and more Canadians are turning to their employers to help them come out ahead.

    Wiegers Financial & Benefits’ Group Retirement Savings (GRS) Division specializes in providing expert advice and top-level service to our GRS clients and their employees. We work hard to provide our clients with good value for their money. But, don’t just take our word for it. If you answer “no” to any of the following questions about your GRS consultant, it’s an ideal time for us to start talking about how Wiegers Financial & Benefits’ does things differently.

    • Has your plan been reviewed recently?
    • Does your consultant regularly conduct fee audits to ensure that your plan is competitive?
    • Does your consultant recommend cost-saving strategies?
    • Does your consultant have an unbiased brokerage relationship with the top GRS suppliers in Canada?
    • Does your consultant give you full transparency on the fees you are paying?
    • Are you receiving the service and support you are paying for?
    • Does your consultant provide plan administrator training and support?

    Request a Quote

    We are here to help you succeed, and look forward to helping you find the right balance between meeting present obligations and securing the future comfort of your business. Contact us today to see how.

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