Retirement Compensation Arrangements
 
A Retirement Compensation Arrangement provides a means for an employer (business member) to make retirement savings contributions for higher income employees. These employees, typically, are unable to make the full 18% contribution to their retirement fund due to legislative ceilings imposed by RRSP and pension limits.
 
Designed to help your business member:
  • Expand their incentives program to reward and retain highly valued employees.
  • Maximize their employees’ retirement savings and secure their financial future.
  • Provide peace of mind for their employees with the knowledge that funds held within the plan are in the hands of a professional trustee.
Concentra provides:
  • Skilled professionals to continuously monitor and interpret the Income Tax Act and Canada Revenue Agency (CRA) administrative policies.
  • Preparation and execution of trust agreement.
  • Contribution processing.
  • Safe custody of the plan assets.
  • Release of funds to individual employees in accordance with the terms of the Agreement and remittance of refundable tax amounts to CRA.
  • Complete plan reporting to the employer; with individual plan statements for each employee participating in your program.
  • 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.