Protecting Your Business
Now, for the details…
Comprehensive Employee Benefit Plans
Key Person & Business Owner Life, Disability, Critical illness & Long-term Care Insurance
Business Loan Insurance
Buy/Sell Life & Disability Protection
- Group RRSP
- A group RRSP is the most common pension plan option for small businesses. Contributions are made each month by a way of payroll deductions and the investment company supplies annual tax reporting.
- Deferred Profit Sharing Plan (DPSP)
- A DPSP is designed to motivate employees by allowing them to share in the company’s success and prepare for their own retirement. This is a pension plan through which an employer shares a portion of the company’s profits with some or all of its employees.
- Registered Defined Contribution Plan (RPP)
- A defined contribution plan is a contract whereby the employees and employer, or only the employer, agree to make regular contributions to a retirement plan. Only the amount of the contributions are predetermined, the amount of the pension is not known until the member retires.
- Registered Defined Benefit Plan
- Unlike defined contributions of the RPP, where the amount of the pension in known only at the time of retirement, the amount of the pension in a defined benefit plan is established up-front. Therefore, the employer assumes all of the financial risk to reach the established benefit amount.
- Individual Pension Plan (IPP)
- An IPP is a defined benefit plan designed specifically for owners and senior managers to allow them to maximize their retirement income.