No-Cost Pension Plan Increases Competitiveness for Small Business
(firmenpresse) - REGINA, SASKATCHEWAN -- (Marketwire) -- 01/30/12 -- Editors Note: There is a video associated with this Press Release.
Improvements to the Saskatchewan Pension Plan (SPP) provide a way for small to medium-sized businesses to increase their competitive advantage while helping employees plan for the future: a business plan that provides the important benefit of a pension plan for employees.
"Small to medium-sized businesses in Canada face many competition issues that make it difficult to attract and retain excellent employees," said Katherine Strutt, general manager of SPP. "Our business plan makes it easy for employers to extend highly valued pension benefits to their employees. Not only does it provide a competitive advantage, but it's easy to use -- there's no cost to employers, and it's totally administered by SPP - we even send out the tax receipts and statements to the individual employees."
SPP has $298 Million in investment, and 32,000 members, many in Saskatchewan but others from across Canada. "We started getting a lot more attention recently when the federal government introduced its pooled registered pension plan (PRPP)," said Strutt, "but I'm proud to say that we developed and implemented this model 25 years ago. In fact, when PRPP was announced, Toronto Star called the SPP business plan 'Canada's best kept secret!"
Support for the model is growing, with a recent poll of 800 companies in Canada showing that 71 per cent of those surveyed agreed that employers should offer some form of retirement plan to workers, with PRPPs touted as a low-cost alternative. Beltone Hearing is a small Saskatchewan business with nine employees, and has to compete with large businesses that offer big pension plans and group benefits. "We like SPP's business plan because it removes all our concerns about costs and administration, and because it's flexible - even customizable. Employees can contribute themselves through payroll deductions, and employers can match those contributions if they choose," said Kim Getson. "By far the biggest value we get from SPP is our competitive ability to provide this benefit to our employees, and they appreciate that."
SPP recently increased its maximum contribution to $2,500 per year, and members may also now transfer up to $10,000 per year from their RRSPs and other pension plans. The funds are managed by Greystone Managed Investments Inc. and Leith Wheeler Investment Counsel Ltd., and have competitive returns.
The 2012 deadline for SPP contributions is February 29, and all the usual tax benefits apply for member contributions. To learn more about SPP's business plan, visit or call toll-free to 1-800-667-7153.
To view a video about how Saskatchewan Pension Plan's no cost employer pension plans can give small businesses a competitive advantage, visit the following link:
To view the Saskatchewan Pension Plan Employer Guide, please visit the following link:
Contacts:
Saskatchewan Pension Plan
Gail Genest
Manager of Business Development
306-955-9915
Cell: 306-321-7017
Saskatchewan Pension Plan
Bonnie Meier
Manager of Client Service
306-463-5419
Cell: 306-628-7671
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 30.01.2012 - 23:26 Uhr
Sprache: Deutsch
News-ID 109103
Anzahl Zeichen: 0
contact information:
Town:
REGINA, SASKATCHEWAN
Kategorie:
Personal Finance
Diese Pressemitteilung wurde bisher 224 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"No-Cost Pension Plan Increases Competitiveness for Small Business"
steht unter der journalistisch-redaktionellen Verantwortung von
Saskatchewan Pension Plan (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
