Workplace Retirement Planning
McAuley Financial Services’ team of Certified Financial Planners is a comprehensive group of specialists dedicated to exceptional client service. Our areas of interest and expertise revolve around retirement income planning. Our goal is to bring greater value to your corporation at minimal cost.
The Leading Solutions Provider
Why Should You Provide a Group Retirement Plan for Your Staff?
- Increased Productivity
- Reduced Turnover
- Increased Morale, Satisfaction and Loyalty
You will find our staff is knowledgeable and caring and you will find that we do add value to the employee/employer relationship by providing a range of retirement income planning services to your staff.
There is no question that the largest expense employers face is employee turnover and training costs. Benefits Canada reports that the majority of employees are seeking employers who have retirement plans and further that over 50% of the respondents in their survey stated they would leave their employ if another employer offered them the same salary and a better retirement plan.
You have invested in payroll, environment and likely a good group benefits package. However, research indicates the one benefit that people are seeking more than anything else is help with their financial planning. How do I save for retirement? How much money will I need? What should I invest in? When will I be able to retire? These are all, questions that are being asked and not answered.
We Can Help.
Our Certified Financial Planners are leaders in workplace retirement income planning with specialized experience and expertise that is second to none.
Our Process
We are committed to providing our clients with the best solutions, the best advice and an exceptional client service experience.
- We hold a general staff meeting at the outset to introduce the plan and explain the details and advantages
- We meet one on one, at your site, with every staff member individually to discuss their objectives and concerns
- We co-ordinate your “plan” with any other investments held by the employee or their spouse
- We will assist each plan member individually with investment selection
- We will explain the points of contact, our office, the trustee website/toll free phone access and the financial statements
- We will assist with individual retirement income projections as requested and make ourselves accessible at any time for personal telephone conversations or meetings at our offices – all at no cost to you or your staff
- After the plan is intact we will continue to “register” all new employees
- We will handle all terminations (including retirements) and transfer staff assets
- Annually we will be on site for a group meeting, usually followed by on-site one to one reviews for interested staff
Consider the Ways that our Team of Certified Financial Planners Could Help You.
If you currently have an existing plan or have been thinking about establishing a new plan for employees, we invite you to call our offices for a no obligations discussion. We will be pleased to meet with you to discuss your goals and objectives.
Through our disciplined process, we are convinced that we can bring exceptional value to your corporation - just like we have for others in the Ottawa area.
Frequently Asked Questions
What are the Choices?
- Group registered Retirement Savings Plans (GRRSP)
- Registered Pension Plans
In either case employees will benefit from regular contributions, easy payroll deductions, tax sheltered growth and very tax effective compensation. All contribution made by you are tax deductible.
Most employers these days opt for GRRSP as it is innovative and flexible and has fewer Government rules and restrictions than Pension planning.
How Do I know Which Option to Select?
We will work with you to select the best option for your company. Once we have outlined the features of both retirement income options we are certain your decision will be easy.
How do I select a Trustee for My Company Retirement Plan?
After ascertaining your needs and goals we will evaluate the trustees (insurance/investment fund company) and recommend one organization to you.
What is my cost?
For the most part you incur no direct costs – simply the cash contribution you make on behalf of staff and any administration time spent remitting the monthly investment. In this way you have a budgeted and understandable fixed cost.
How does the administration work?
Your job will be to remit the investment assets to the trustee. McAuley Financial Services’ team of Certified Financial Planners will personally educate and assist your staff and create a tremendous value proposition on your behalf.
Helpful Links
Human Resources and Social Development Canada
Formerly known as Human Resources Development Canada, the HRSDC site provides general and specific information about the CPP, including forms, payment and taxation information, reference guides, as well as links to information about benefits, eligibility, contribution rates and provisions, OAS, and disability benefits.
Canada Revenue Agency
The CRA website is a completely comprehensive source for tax practitioners including information about Income Tax Act rules and interpretation bulletins. Those familiar with the site recommend taking notes and keeping an organized list of bookmarks in a separate browser folder to refer back to as needed to save time and avoid having to repeat the search with each case.
Testimonial
“I wanted to take this opportunity to thank you for over twenty years of high quality personal service. My situation has evolved over the years but what has been constant is your professionalism, focus and special attention to my particular needs.”
—John A.
