Retirement Benefits

Benefits Architect Group can offer a complete range of Pension and Accumulation style products for clients consisting of the following:

a) Defined Contribution (CAP) Plans
Defined Contribution or Capital Accumulation Plans are very much the norm in today’s pension world. With these plans, most employers will match the amount that an employee is contributing to their pension. Employers are responsible for ensuring that the plan is set up properly and appropriate investments are being adhered and that proper education is being offered to employees.

b) Defined Benefit Plans
Once the “gold standard” of pension plans, most Defined Benefit (DB) plans are maintained by governments and large corporations. The cost of maintaining these programs plus the uncertainties of the investment marketplace has made these plans uninviting to most small and medium companies.

c) Group RRSP
This is simply a regular RRSP provided to employees of a company which provides additional benefits compared to a personal RRSP as follows:

• Contributions are via payroll deduction; therefore immediate tax relief is available.
• Reduced fees on investment options
• Employers usually pay administration charges.

d) Deferred Profit Sharing Plan (DPSP)
This type of Capital Accumulation Plan provides employers more flexibility than with a Registered Pension Plan with the ability to link contributions to the profitability of the company. This gives employers the flexibility of not being tied to mandatory contributions when economic conditions dictate otherwise.

e) Group TFSA
Very similar mechanism as with Group RRSP’s with similar advantages.