Owen & Associates offers numerous years of experience in the pension industry providing advice to a wide range of pension plan sponsors in both the private and public sectors. We work extensively on Deferred Profit Sharing Plans, Registered Retirement Savings Plans and Executive Pension Arrangements. We also offer expertise with Defined Contribution, Defined Benefit, and Hybrid pension plans.
Like our Group and Administration Services, our Retirement Services take a team approach, whereby each of our clients has access to vendor actuaries with direct client knowledge. We assign Account Assistants as necessary to provide day-to-day support on a dedicated basis.
Services offered include:
- Group Retirement Program Plan Design and Review Services;
- Plan Document Writing and Review Services;
- Direct Administration Services;
- Group Retirement Savings Plan Administration Consulting Services; and
- Employee Communication Services.
Advantages of a group RRSP compared to an individual RRSP:
- Payroll Deductions method of employee contributions;
- Immediate tax relief to employee;
- Smaller or no administrative costs;
- Minimal government reporting;
- Not subject to provincial pension regulations, therefore flexible in terms of employee eligibility and contribution levels;
- Lower minimum deposits;
- Income splitting available through spousal contributions; and
- May offer enhanced RRIF and annuity rates at retirement.