Types of Group Retirement Savings Plans We Offer

We offer a variety of group retirement plans to suit the needs of your business and your employees:

  • Group Registered Retirement Savings Plans (Group RRSPs):
    • Contributions are tax-deductible for employees.
    • Earnings grow tax-free until withdrawal.
    • Provides flexibility in investment options and contributions.
  • Deferred Profit Sharing Plans (DPSPs):
    • Employer-only contributions are tied to company profitability.
    • Contributions are tax-deductible for the employer.
    • Encourages employee loyalty by linking benefits to business success.
  • Defined Contribution Pension Plans (DCPPs):
    • Fixed contributions from both employer and employee.
    • Predictable costs for employers.
    • Employees have control over investment decisions.
  • Tax-Free Savings Account (TFSA) Plans:
    • Contributions grow tax-free, providing flexibility for short- and long-term savings.
    • No taxes on withdrawals, making it a versatile savings tool.

Why Offer Group Retirement Savings Plans?

  • Attract and Retain Talent: A strong retirement savings plan is a key component of a competitive compensation package.
  • Encourage Financial Wellness: Help employees achieve their retirement goals by promoting disciplined saving.
  • Tax Advantages: Contributions are tax-deductible for employers, and employees benefit from tax-sheltered growth.
  • Boost Employee Morale: Offering a retirement plan demonstrates your investment in your employees’ future.

Our Services for Employers

At ClearPeak Benefits, we provide end-to-end support for group retirement savings plans:

  • Plan Design: We help you choose the right plan type and structure to meet your business objectives and budget.
  • Investment Options: Access to a wide range of investment options tailored to employee needs and risk profiles.
  • Employee Education: Workshops, one-on-one sessions, and materials to help employees understand and maximize their benefits.
  • Ongoing Management: Regular plan reviews, compliance monitoring, and administrative support to ensure your plan’s success.

Employee Benefits of Joining a Group Retirement Savings Plan

  • Convenience: Automatic payroll deductions make saving simple and consistent.
  • Tax Efficiency: Contributions lower taxable income (for RRSPs and DPSPs) and grow tax-free.
  • Employer Contributions: Matching contributions help grow savings faster.
  • Professional Management: Employees gain access to professionally managed investment options.

Why Choose ClearPeak Benefits?

  • Expertise in Group Plans: Decades of experience designing and managing group retirement savings programs.
  • Tailored Solutions: We work closely with small business owners to create plans that align with your goals.
  • Clear Communication: Simplifying complex topics so you and your employees feel confident in your plan.
  • Ongoing Support: Dedicated service to ensure your plan evolves with your business and employee needs.

Ready to Build a Retirement Plan That Works for Your Business?

Contact ClearPeak Benefits today to discuss your options for group retirement savings. Together, we’ll create a plan that helps your employees achieve financial security while supporting your business goals.