Group retirement plans
A group retirement plan that sets you apart as an employer.
I handle the provider and the structure. You choose your match, a defined cost you can budget, and your employees get a real plan.
Why offer one
Four reasons owners put one in.
It can be required
In some provinces a plan is now mandatory once you have a handful of eligible employees. Québec requires a VRSP at five, unless an equivalent plan is already in place.
Keep your people
Matching contributions to a DPSP vest over up to two years, which holds a team together without a non-compete clause.
Attract the right ones
One of the best recruiting tools there is, ranked alongside salary and ahead of health benefits by most candidates.
Give more, pay less
A DPSP contribution is deductible to the company, with no CPP or EI payable on it. More lands with your staff per dollar spent.
Your options
The building blocks, in plain terms.
Group RRSP
The employee’s money. They contribute from gross pay, so the tax saving is immediate and the money is theirs from day one.
DPSP
Your contribution. A Deferred Profit Sharing Plan is where your match goes: deductible, no CPP or EI, and it vests over two years at most.
Group TFSA
Flexible savings. Tax-free savings for goals closer than retirement. Withdraw anytime, with no tax on the growth.
VRSP or PRPP
The legal minimum. What the law requires in some provinces (Québec’s VRSP; a federal PRPP). No employer match is required, but participation stays low without one.
Who does what
Set up once, then mostly off your desk.
Your advisor
I advise.
- Choice of provider and plan structure
- Selection of investment options
- The match amount and vesting period
- An annual review and fee comparison
Plan provider
They administer.
- Holds the plan and members’ accounts
- Platform, statements and recordkeeping
- Enrolment and member service
- Education and one-on-one meetings
You, the employer
You manage.
- Your matching contributions
- Deductions on your existing payroll
- About five minutes per pay period
- One annual review with me
Start with a 30-minute conversation.
If you’d like to explore group retirement options for your employees.
Girard Wealth provides advisory services on group retirement savings plans. The plans themselves are established and administered by third-party providers. This page is general information, not tax, legal or investment advice.