Retirement Services Program - Features

Our Retirement Services Program Suits You

Our Retirement Services program is the perfect choice for your credit union, as well as your business customers. 

Low risk

• Secure, conservative longer-term investment structure is designed for lower financial risk
• Employee education and communication ensures employees understand their investment options and retirement savings needs

Savings

• Competitive fees enable your credit union or business customers to control and possibly reduce administrative costs
• Expenses are minimized as our Retirement Services program pools all market-based funds per client for one investment management fee

Administration

• Our Retirement Services program makes Group RRSPs, DCPPs, DPSPs and DBPPs simple to administer and easy for both your credit union and business customers' employees to understand
• Our Retirement Services program's solid, reliable plan administration includes accurate, timely statements and toll-free customer service support for employees  

Record Keeping Services

• Our Retirement Services program will administer your credit union’s new or existing plan using a real-time PC-based record keeping system
• Not only do we prepare statements and reports, we also stay on top of the rules and regulations so you don't have to

Group Registered Retirement Savings Plan (Group RRSP)

A Group RRSP is like an individual RRSP but with additional benefits:

• Low annual fees and improved reporting
• Contributions are deducted from payroll, giving employees immediate tax relief and tax-sheltered growth

Defined Contribution Pension Plan (DCPP)

A defined contribution pension plan is a registered plan with the appropriate provincial pension authority and the  Canada Customs and Revenue Agency (old Revenue Canada) :

• Your credit union contributes a percentage of pay to each employee’s account where it can earn investment income
• Each employee may be required to contribute a percentage of pay equal to or less than your credit union’s contribution

Deferred Profit Sharing Plan (DPSP)

• A deferred profit sharing plan is a registered plan with the CCRA    which allows your employees to share in your credit union’s profit and defer taxes as long as the funds remain in the plan

Defined Benefit Pension Plan (DBPP)

A defined benefit pension plan is a registered pension plan with a provincial pension authority and the CCRA:

• Retirement benefits are defined by a formula that provides a ‘unit of benefit’ for each year of service
• Your employees may be required to contribute
• Your credit union is responsible for contributing the balance necessary to fund the plan's benefits

Protecting Employees’ Future

We administer pension and group retirement savings plans for over 250 credit unions, caisses populaires and system commercial accounts. Credit union members’ retirement assets of $185-million are invested in our Retirement Security Fund, with $74-million invested with the  Phillips Hager and North (PH&N) and Barclays Global Investors (BGI)

Small Business Brochure(6960 KB) 

Interested?

Want to discuss how you can grow your business and retain your best employees? Interested in learning how you can better serve your business customers? Please contact

Contact