Which retirement plan is right for your small business depends on what you what your objectives are and the resources you are willing to commit. Retirement plans for all employees? Key employees only?
In Canada, if you choose a group RRSP or a defined contribution pension plan, the company can determine the amount of contribution. The amount of the retirement income value or pension depends on investment growth. If you choose a defined benefit pension plan, the the company guarantees the amount of the retirement income and the amount of contribution is unknown. In that case the risk to the company increases.
There are a number of solutions available depending on your objectives.
If you would like to work with a local Retirement Planner, you could start with a Google search. For example if you search for: retirement planner Halifax or retirement planning Halifax, my name along with several others will come up. You can use the same method to find Retirement Planners in your community.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
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In Canada, if you choose a group RRSP or a defined contribution pension plan, the company can determine the amount of contribution. The amount of the retirement income value or pension depends on investment growth. If you choose a defined benefit pension plan, the the company guarantees the amount of the retirement income and the amount of contribution is unknown. In that case the risk to the company increases.
There are a number of solutions available depending on your objectives.
If you would like to work with a local Retirement Planner, you could start with a Google search. For example if you search for: retirement planner Halifax or retirement planning Halifax, my name along with several others will come up. You can use the same method to find Retirement Planners in your community.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.