Skip Navigation LinksHome : Group Benefits : Payroll Savings

Defining and Implementing a payroll savings program

Payroll Savings

is another way you can set your company apart from the competition Studies show that:


Employers can expect less absenteeism when plan members spend less company time attending to their personal financial matters. *Source: Pensions and Benefits Monitor.


Turnover and hiring costs are reduced 56% of individuals surveyed said they would be reluctant to leave their employer because of their plan and other benefits *Source: The Benefits Canada survey on Capital Accumulation Plan Members.


You can attract and retain better qualified candidates Having a group plan can help employers retain existing employees and attract new qualified candidates because it differentiates them from the competition. *Source: Advisor’s Edge.


Our convenient and secure online enrollment process

simplifies and streamlines what once was a time consuming task of enrolling employees. Our encrypted online website system guarantees confidentiality, and enrollment only takes 10 minutes. Once the information is completed online, an enrollment package is sent to the employee for confirmation and signature.
Our large selection of investments provide a variety of high quality investment funds for employees to select from, including opportunities to invest in Saskatchewan.

Contact us
 
Name :
E-Mail Address:
re-type Email:
Daytime Phone:
Heard about us:
Area of interest:
Question/Message:
 
Type image text:
     

Group RRSPs:

a collection of individual RRSPs where members make contributions through payroll deductions.

  • Voluntary & deductible contributions by employers
  • Instant tax savings for plan members
  • Contributions vest immediately and are not “locked-in”
  • Employer controls eligibility and determining employer’s contribution amounts.


Deferred Profit Sharing Plans (DPSP):

used to share corporate profits with plan members.

  • Voluntary & deductible contributions by employers
  • Employer decides what portion of profits will be shared
  • Employer contributions not subject to payroll taxes
  • Aligns employee’s financial interests with employer’s


Defined Contribution Registered Pension Plans (DC- RPP):

a collection of individual RRSPs where members make contributions through payroll deductions.

  • Employer contributes a fixed percentage or dollar value of the employee's pay, the employee may also contribute a fixed amount outlined in the plan
  • Contributions not subject to payroll taxes.
  • Accurate cost forecasting, employer contributions are defined; accurately forecasting the company's costs for providing a pension to employee.

Lifestyle by Design © 2012 | Privacy Policy | Contact us | Our Team | MFDA Disclosure