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Retirement Solution Announced


The Standard Life Assurance Company of Canada has announced a new retirement solution ‒ ‘Pension in a Box.’ Designed to help small and medium-sized enterprises (SMEs) offer their employees a simple, flexible and online workplace retirement solution. It takes into account employees' needs and degrees of investment knowledge, as well as their comfort level with various financial products. "SMEs make up the vast majority of businesses in Canada. When it comes to group retirement plans, their needs and resources are different from larger organizations. Consequently, workplace savings and retirement plans need to be adapted to their reality," says Michel Fortin, senior vice-president, marketing and customer solutions. It allows SME decision-makers to focus on what they do best, running their day-to-day business and not worrying about the complexities of managing a pension plan. Employers can use a range of savings and retirement plans that help employees save for the future. These include Defined Contribution registered pension plans, group registered retirement savings plans, tax-free savings accounts, non-registered savings plans, and deferred profit sharing plans.

Courtesy of Benefits and Pensions Monitor website News Alerts

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