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Pension and Retirement Solutions

Building a bright future

Secure your employees’ futures with tailored pension and retirement solutions. At Gifford Carr, we help businesses create comprehensive plans that support financial security and long-term growth—because investing in your team is investing in your success.

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What is a pension plan?

A pension plan is an employer-sponsored program designed to provide employees with a reliable income stream upon retirement. Contributions can be made by the employer, the employee, or both. The funds are accessible only after retirement, ensuring financial stability for employees during their post-work years.

There are two main types: 

  • Defined benefit plans: Guarantees a set income after retirement. 
  • Defined contribution plans: The amount received depends on the contributions made. 

Retirement options for today’s workforce

Employees value modern flexibility and choice. We offer a range of solutions to fit these needs, empowering your team to plan for their financial future with confidence.

Retirement Solutions

Retirement solutions are built for retirement income but also offer more flexibility in the shorter term if employees leave the company. For employers who do not wish to implement a pension plan, there are several alternative options to consider: 

  • Group Registered Retirement Savings Plan (RRSP)
  • Group Deferred Profit Sharing Plan (DPSP)
  • Group Tax-Free Savings Account (TFSA)

Group RRSPs

A group Registered Retirement Savings Plan (RRSP) allows employees to save directly from their paycheck while reducing taxable income. Employers can contribute to these plans, helping employees grow their retirement savings faster.

Group DPSPs

A Deferred Profit-Sharing Plan (DPSP) is an employer-sponsored program registered with the Canada Revenue Agency (CRA) that allows businesses to share profits with employees. Employers can extend this plan to all staff or specific groups, though individuals owning 10% or more of the company are not eligible to participate.

Group TFSAs

Group Tax-Free Savings Accounts (TFSAs) provide a flexible, tax-free savings option for employees. Contributions don’t reduce taxable income, but the funds grow tax-free, offering employees a secure way to save.

Build a secure future for your team.

Invest in your employees’ sense of security with personalized retirement and pension benefits they’ll truly value.

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Frequently asked questions

Find answers to common questions about our pension and retirement solutions.

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