Employee Benefits – Group Retirement

Retirement and savings programs should be a key component of your total rewards strategy. Obviously, making employer contributions available is a good start, but it is not enough to ensure employees fully appreciate a program’s value.

No matter the size of your organization; you want to attract and retain the best talent possible. And you no doubt want to have your team fully engaged in their work — not worrying about their future.

Also, as defined benefit pension plans’ presence has been dramatically shrinking in Canada over the last 20 years, capital accumulation plans (“CAPs”) — also known as defined contribution group retirement and savings plans — have become the norm.

A strategically designed CAP program, communicated in an effective manner, can lead to employees feeling well taken care of and confident about their preparation towards retirement.

Maintaining a well-run CAP program is not only strategic for your organization; it is actually your responsibility as an employer. As a program sponsor, there are certain oversight activities you are expected to perform to ensure quality and mitigate risks.

At BFL CANADA Consulting Services Inc., we believe going the extra mile to optimize your group retirement program maximizes the HR impact of the contributions you make. We use a proactive and granular approach that has a tangible impact on outcomes for participants:

• A smart, competitive design, conducive to maximizing employee participation and contributions;
• Sophisticated yet easy-to-understand investments, regularly monitored for fit with participants’ needs and satisfactory performance;
• Low investment and record keeping fees, eating less into returns;
• Intelligent, value-added reporting, providing deeper insights about how participants are doing and identifying areas of concerns to act upon;
• Participant support geared to address potential issues and to improve odds of retirement success;
• Effective communications to guide your employees and increase their satisfaction;
• Early assessment of developing products and services to identify further potential improvements;
• An engaged program provider supporting your organization and your employees.

We specialize in Capital Accumulation Plans (CAPs) and are leading experts with the following plan types:

• Deferred Profit Sharing Plans;
• Defined contribution pension plans, including Québec’s Simplified Pension Plans; Group Non-Registered Plans;
• Group Registered Retirement Savings Plans;
• Group Tax-Free Savings Accounts;
• Individual Pension Plans, Supplemental Executive Retirement Plans and Retirement Compensation Arrangements;
• Voluntary retirement savings plan.

We can also support our clients with their Defined Benefit Pension Plans.

Our group retirement consulting services are supported by years of experience from our senior consultants, bringing our clients a variety of backgrounds from the actuarial, pension, investments, retirement and financial planning, as well as communication fields. This allows us to provide services customized to our clients’ needs and makes us uniquely positioned to serve clients of any size across Canada.

Regardless of your industry, size or the complexity of your group retirement program, BFL CANADA, through a broad range of services, offers you solutions that support your corporate culture and allows your business to acquire and maintain a competitive edge.