Pension Plans
 
Pension plans are a means for an employer (business member) to provide their most valuable resource – their employees – with a way to save for retirement.
 
Designed to help your business member:
  • Expand your incentives program to reward and retain highly valued employees.
  • Provide peace of mind for their employees knowing that the funds held within the plan are in the hands of a professional trustee.
The two plans are distinguished as follows:
  • Employee (Group) Plans - Employees make contributions to the plan through payroll deductions. Employee contributions, within the 18% annual maximum, are tax deductible.
  • Company Plans – As employer, your business member makes contributions, usually matched by the employee into the pension plan. Employee contributions, within the 18% annual maximum, are tax deductible.
Concentra provides:
  • Skilled professionals to continuously monitor, interpret, and ensure compliance with the Income Tax Act and Canada Revenue Agency (CRA) administrative policies.
  • Safe custody of the funds and assets contributed to a pension plan by the employer and/or employees.
  • Acts in conjunction with the investment manager, actuary and the employer.
  • Statements provide the business member with complete information on the assets held in the account (on the statement date) and a detailed history of the transactions during the period.
  • Easy access for your business member’s staff to obtain ongoing support and assistance via phone, fax or email.
Your business member:
  • Retains Concentra to receive and hold contributions.
  • Makes contributions in accordance with the terms of the Agreement and the Income Tax Act.