Fraser Valley group retirement services can set your business apart from the competition, attract top talent and result in overall job satisfaction for your employees. Until computers and robots replace us all, your employees will remain your greatest asset. Your employees are the face of your company and represent your vision with every customer interaction. It is not surprising there is a direct correlation between job satisfaction and overall job performance.
As a business owner, there are many investments you can make to increase the value of your business. Often overlooked is a cost-effective investment in the future and security of your employees. Few people want to work forever, and the feeling of working towards an attainable goal can be more motivating than just a pay cheque.
There are many Fraser Valley group retirement services to offer your employees, here are few of the most common and their benefits:
Registered Pension Plan (RPP)
An RPP is a retirement plan set up by the employer. This type of plan allows your employees to make tax-deductible contributions and income isn’t taxed until the plan is paid out. As an employer you can choose to contribute to the plan along with your employees as part of your overall compensation package.
Registered Retirement Savings Plan (RRSP)
Very similar to the RPP, an RRSP provides tax-deferred income growth along with tax-deductible contributions. Group RRSPs have the advantage of lower investment management fees and contributions can be made through payroll deductions.
Deferred Profit Sharing Plan (DPSP)
A DPSP is set up by the employer as a way of sharing profit with employees. Contributions depend on the profits of the company only, employee contributions do not apply. Contributions from the employer are tax-deductible and tying your company’s performance with retirement benefits is a great way to motivate employees.
Some employers are averse to offering group retirement plans as they fear high costs and difficulties of administrating such a plan. However, DENT Benefits has many cost-effective options available with advanced technology to make administration simple and easy.
If you are interested in offering Fraser Valley group retirement services and setting your organization apart from the competition, contact the experts at DENT Benefits.
The information in this material is derived from various sources. Material is provided for general information and is subject to change without notice. Every effort has been made to compile this material from reliable sources; however, no warranty can be made as to its accuracy or completeness. Before acting on any of the above, please contact us for benefit, pension and insurance advice based on your corporate or personal circumstances.