Unison Benefits is committed to providing employers and organizations with quality service and options when strategizing to implement a successful pension plan. We will provide a successful pension strategy based on: early enrolment, mandatory participation, meaningful contributions by employers and employees, withdrawal restrictions that are in the interest of both employee and employer and having a variety of investment selection options

Two main types are “Defined Contribution” and “Defined Benefit”. The latter is usually a risk taken 100% by a very large Company or a Government Agency. It would guarantee a percentage of ‘best years’ average income in retirement. A ‘Defined Contribution’ plan means the company would match an employees contributions and bear no further risk. The employee is responsible for making choices that maximize the value of their holdings to retirement. This is the main choice of the average Canadian Business.

Benefits for employers

Group benefits provides retirement savings that build employee loyalty, usually, at no cost to you.

Benefits for employees

Group benefits provide an easy way to save for retirement through payroll contributions.

An immediate tax benefit

Since your pension contributions can be made before any tax is deducted from your pay.

Power of Bulk Purchasing

Bulk purchasing allows you to earn top interest rates and investment rates for as little as $25 a month.

Group plans are employee owned

The portion that the employee contributes is 100 per cent owned by the employee and he or she can do whatever they want with it. They can take it with them if they leave the employer. Most plans also allow a transfer to another DCPP or an RRSP on job changes. However, some lock-in restrictions or provisions under transfer amounts that are contributed by the employer may be applicable.

A group plan can be set-up quite easily. — You only need a couple of people to get one started. Usually, there are no direct fees for the administration or investment portion. Often referred to a “no-load’ plan.

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