Group Savings Plans: A Cost-Effective Way to Enhance Employee Financial Well-Being

In today’s employment landscape, organizations are challenged with balancing competitive compensation while managing company finances effectively. Today’s employees are looking for more than just a competitive salary, they want total compensation that provides overall financial security in relation to the cost of living, healthcare coverage, and a clear path toward retirement.

Implement a Group Savings Plan for as little as 2% of your payroll

Let’s review the key benefits to both your organization and your employees.

• Provides payroll tax savings for your organization, making it a cost-effective way to provide additional compensation.
• Reduces employee financial stress by providing a structured way to save for retirement or other financial goals
• Younger workforce can benefit even more with a Group First Home Savings Account (FHSA) making homeownership more accessible
• Employees can borrow against a Retirement Savings Plan (RSP) through the Home Buyer’s Plan, another new homeownership tool
• Employee contributions can reduce their taxable income
• An opportunity to provide lower investment management fees to your employees, helping them save even more!

Capcorp: Your Partner in Benefits Planning

Designing and implementing an effective Group Savings Plan requires expertise and a deep understanding of both market trends and regulatory landscapes. This is where Capcorp excels. Our team specializes in crafting customized benefits solutions that align with your organization’s goals and resonate with your workforce.

Ready to transform your benefits offerings? Contact Capcorp today to discover how we can help you create a competitive and cost-effective benefits package to foster enduring employee satisfaction.