Backed by over 80 years of experience, iA is an industry leader when it comes to group retirement plans. Our clients from across Canada count on our extensive experience in the administration of group retirement plans, in asset management for defined benefit plans and for pension benefit payment services.
An advisor can help you to determine your needs.
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Upon retirement, your employees will have access to the sum of the contributions made to their Defined Contribution Registered Pension Plan (DC RPP) account plus any return generated by these contributions.
For your employees, a DC RPP offers an added value to their group benefits because you are required to contribute as well.
Furthermore, by entrusting the administration of your DC RPP to us, you are relieved of several administrative tasks.
Advantages for the employer
- Amounts accumulated are only for retirement
- Contributions and administrative expenses are tax-deductible
- No payroll taxes on contributions
- Employee recruitment made easier and retention reinforced
Advantages for the employee
- Employer is required to contribute to the plan
- Tax-sheltered contributions and investment income until payout
- Payroll deductions make saving easier
- Immediate tax refund
- Creditor protection
The Simplified Pension Plan (SPP) is particularly suited to the reality of SMEs. By entrusting the administration of your SPP to us, you are relieved of several administrative tasks.
Advantages for the employer
- Amounts accumulated are only for retirement
- Contributions and administrative expenses are tax-deductible
- No payroll taxes on contributions
- Streamlined administration
- Employee recruitment and retention made easier
Advantages for the employee
- Employer is required to contribute to the plan
- Tax-sheltered contributions and investment income until payout
- Payroll deductions make saving easier
- Immediate tax refund
- Creditor protection
The Group Registered Retirement Savings Plan (RRSP) is a combination of several individual RRSPs. Your employees may contribute through payroll deductions or by preauthorized payments, which will allow them to save and benefit from tax advantages.
Employers may contribute to a group RRSP. Your contributions are then subject to payroll taxes and are immediately vested.
Advantages for the employer
- Simple administration
- Employer is not required to contribute
- Employee salaries are tax deductible
- Flexibility in plan design
- Not subject to pension plan legislation
Advantages for the employee
- Tax-sheltered contributions and investment income until payout
- Contributions are tax deductible
- Immediate tax savings at source
- Unused contribution amounts can be carried forward
- Payroll deductions make saving easier
- Contributions can be made in a spouse’s name
- Immediate vesting of employer contributions
LIRA
A Locked-In Retirement Account (LIRA) is a product that is specially designed to receive the amounts acquired under a registered pension plan or simplified pension plan, for example upon termination of employment. It is not possible to contribute to a LIRA, nor is it possible, in general, to make withdrawals before retirement.
Advantages of a LIRA
- Investment income accumulates tax-free
- Various investment options
The Deferred Profit Sharing Plan (DPSP) allows you to distribute a portion of your company’s profits with some or all of your employees.
Thanks to the great flexibility of this plan, you can decide to choose to contribute only when your company generates profits in a fiscal year.
Only the employer may contribute to a DPSP. You can combine it with a group RRSP to encourage employees to save for retirement and commit to match their contribution in a DPSP.
Advantages for the employer
- More control than with a group RRSP
- You are not required to contribute if the company is not profitable
- Tax-deductible contributions that do not generate payroll taxes
- Not subject to pension plan legislation
- Possibility of limiting withdrawals until the employee leaves
Advantages for the employee
- Employer contributions are not taxable and grow tax-free in an account
- Access to company profits
- Investment income accumulates tax-free until payout
- Possibility of withdrawals before retirement
Contributions made to a Tax-Free Savings Account (TFSA) are not tax deductible. However, any income generated and withdrawals are tax-free.
Employers may contribute to a group TFSA. Your contributions are subject to payroll taxes and are immediately vested.
Advantages for the employer
- Savings vehicle to complement an RRSP
- Simple administration
- Employer is not required to contribute
- Employee salaries are tax deductible
- Flexibility in plan design
- Not subject to pension plan legislation
Advantages for the employee
- Investment income accumulates tax-free and does not affect benefits paid by federal programs
- Money can be withdrawn tax-free and redeposited over the following years
- Unused contributions can be carried forward
- Payroll deductions make saving easier
- No age limit to make withdrawals
The group First Home Savings Account (FHSA) allows people to invest tax-free with the goal of purchasing or building a qualifying first home.
Advantages for the employer
- Savings vehicle to complement a retirement savings plan
- Simple administration
- Employer is not required to contribute
- Employer contributions are tax deductible for the employer
- Flexibility in plan design
- Not subject to pension plan legislation
Advantages for the employees
- Tax deductible contributions up to $8,000 per year, up to a lifetime maximum of $40,000
- Immediate tax savings for source deductions
- Unused contribution room up to $8,000 can be carried forward
- Investment income accumulates tax-free and does not affect benefits paid by federal programs until the end of the participation period
- Savings can be withdrawn tax-free when buying or building a qualifying home and do not have to be repaid, unlike those withdrawn from an RRSP through the Home Buyers' Plan (HBP)
- Can combine with TFSA savings with RRSP funds through the HBP
- Payroll deductions make saving easier
The Voluntary Retirement Savings Plan (VRSP) is a simple, flexible and low-cost solution. Eligible employees are automatically enrolled in the plan by their employer.
Advantages for the employer
- No required contribution
- Simple administration
- Contributions are tax-deductible
- No payroll tax on contributions
- Quick and easy to set up
Advantages for the employee
- Automatic and voluntary plan enrolment
- Payroll deductions make saving easier/li>
- Low cost, regardless of the employer
- Contributions and investment income grow tax-free until payout
- Amount or percentage of contribution is adjustable
- Possibility to continue contributing to the VRSP even if you change employer
Find out more about the VRSP.
The Pooled Registered Pension Plan (PRPP) is a federal plan that offers investment and savings opportunities at low administrative costs.
Participation is voluntary. If you choose to participate, your contributions are immediately vested.
Advantages for the employer
- Amounts accumulated are only for retirement
- Simple administration
- Less expensive than a DC RPP
- Employer is not required to contribute
- No payroll tax on contributions
Advantages for the employee
- Contributions and investment income accumulate tax-free until payout
- Payroll deductions make saving easier
- Immediate tax refund
- Creditor protection
Retirement income generated by an Individual Pension Plan (IPP) is generally higher than that generated by an RRSP and the annual contribution amount is established by an actuary based on factors such as age or income.
Advantages for the employer
- Significant tax savings
- Retention of key employees
- Potentially easier to sell the company because of decreased shareholder equity
Advantages for the employee
- Plan financed by employer
- Greater savings than with an RRSP
- Possibility of personalizing provisions such as indexation, early retirement and bridging benefit
- Guaranteed retirement income
- Investment income accumulates tax-free
- Creditor protection
After retirement, sums accumulated are not taxable if the annuity is paid out of the plan.
Find out more about the IPP.
A retirement compensation arrangement (RCA) is a non-registered pension plan which holds its own assets and is funded through an RCA trust or an insurance contract. It is intended for employees whose contributions and benefits generally have reached the maximum allowable amount under a registered plan.
By choosing iA, employers alleviate their workload since ours experts provide all services, including actuarial, trust and administration. They also ensure that all aspects of the plan comply with Canada Revenue Agency rules and regulations.
Advantages for employers
- Enables them to offer executives higher benefits than with registered pension plans
- Contributions are 100% tax-deductible and exempt from payroll and healthcare taxes
- Not governed by provincial pension regulators
- Assets can be creditor protected
- Flexibility to design a plan tailored to employer needs and objectives
Advantages for employees
- Benefits accumulate tax-deferred until withdrawal
- Flexible contribution and withdrawal options (no age or dollar amount requirements)
- Assets are not subject to probate fees when a beneficiary is named
- Employer contributions have no impact on employees’ RRSP room
- Offshore retirement options
- Tax efficiency for business owners when transferring assets from the company to the individual
A notional defined contribution supplemental executive retirement plan is a type of non-registered plan. It targets high earners for whom a portion of their contributions are not eligible to be paid into a registered savings vehicle or registered pension plan.
It is also virtual, in that no actual money is invested. Deemed contributions accumulate with a notional return to determine the amount payable upon termination or retirement.
Benefit from a one-stop shop for actuarial and administrative services, and personalized service from one of the industry’s largest and most experienced in-house teams of actuaries, investment strategists and pension specialists.
Advantages for employers
- Way to incentivize key executives
- Non-registered plan: no regulatory approval required
- Little disclosure required
- Benefits deductible upon payment
Advantages for employees
- Contributions under an RCA can be much higher than under standard registered plans, enabling employers to offer executives higher benefits than those allowed with registered pension plans
- Can be tailored to specific needs
- Benefits taxed only when received
Whether your organization has a defined benefit plan or other pooled assets (reserve or endowment funds, foundations, non-profit organizations or other non-registered assets), our experienced team of specialists can help you make the most of your investments.
We offer a one-stop shop for investment management, administration and custodial services while providing excellent cost effectiveness.
By entrusting us with the management of your investments, you benefit from:
- Investment management and administration, custodial services and actuarial consulting services
- Direct support from a team of investment strategists whose role is to recommend the best solutions for your objectives
- Multiple innovative investment options from over 30 leading fund managers
- A rigorous process for selecting and monitoring portfolio and fund managers
- A one-stop shop if you also have a group capital accumulation plan
Are you looking for a simple solution and a reliable partner to efficiently handle all the tasks related to your defined benefit (DB) plan? Our comprehensive, flexible and efficient solution will save you time and money while providing great financial security for your plan members.
We offer a one-stop shop for DB plan investment management, administration and custodial services with excellent cost effectiveness.
Our full range of actuarial services and customized investment options help optimize your plan’s management and financial health. You also benefit from the expertise of our experienced team of actuaries (retirement and insurance) and the competitive rates of our many investment options.
By entrusting us with the complete management of your plan, you benefit from:
- Cost savings through a one-stop shop
- Customized solutions and innovative investment options
- A smooth transition from the previous provider and a superior client experience
- The convenience of a partner who can make annuity payments and/or purchases
With a constantly evolving economic environment, defined benefit plan sponsors are well advised to minimize risk to ensure the long-term viability of their plans.
We work with every advisor and client to tailor a liability-driven portfolio and develop a de-risking strategy aligned with their specific needs.
iA offers affordable services provided by one of the industry’s largest and most experienced team of in-house actuarial experts, investment strategists and pension specialists.
What you get: a customized one-stop solution
- Consulting with de-risking experts to assess risk tolerance and determine the desired end state
- Asset-liability stress tests factoring in client specifics across multiple scenarios
- In collaboration with the plan actuary, monitoring of assets, liabilities and market conditions to adjust the asset mix or purchase annuities when appropriate
- 100+ investment options, including one of the most extensive alternative and sustainable fund selections on the market
- Long-standing in-house expertise in insured annuities
- Plan market value updated daily – available on My Client Space, our secure website
Annuities
There are two main types of insured annuities contracts:
Buy-out annuities
- The insurer assumes responsibility for paying plan member annuities covered by the annuities purchase and the pension plan administration
- The employer dispenses with the risks associated with the plan member annuity payments covered by the annuities purchase
Buy-in annuities
- The insurer assumes responsibility for paying plan member annuities covered by the annuities purchase
- The buy-in annuities contract becomes an asset of the pension plan
- The employer remains responsible for administering the pension plan
- The buy-in annuity contract can be converted into a buy-out annuity contract to transfer the pension plan administration to the employer
With a Registered Retirement Income Fund (RRIF), it is possible to periodically withdraw a portion of the accumulated amounts, while continuing to grow savings on a tax-free basis.
Advantages of a RRIF
- Periodic retirement income
- Investment income remains tax sheltered until withdrawn
- No maximum withdrawal
Similar to a RRIF, the Life Income Fund (LIF) allows you to withdraw a retirement income. Furthermore, the LIF is subject to both a minimum and a maximum annual withdrawal.
In Quebec, there is no maximum annual payment for people aged 55 and over.
Advantages of a LIF
- Periodic retirement income
- Control over a flexible retirement income
- Access to multiple investment options
- No obligation to purchase an annuity
- Investment income remains tax sheltered until withdrawn