Do more for your Employees
A Deferred Profit Sharing Plan (DPSP) allows employers to share business profits. DPSP’s only allow for employer contributions, therefore work well when offered with a Group Retirement Savings Plan, where employees can contribute.
As employer contributions are not considered insurable earnings, these do not attract payroll taxes such as: CPP, EI, WCB or Holiday Pay.
As an added level of protection to the employer, Deferred Profit Sharing Plans cannot be accessed by the employee while actively employed. In addition, should an employee terminate prior to the outlined vesting period, DPSP contributions are forfeited back to the employer.