The updated services offer convenient retirement savings options for Canadian companies with full-time employees. Typically, group insurance plans cover medical-related costs, such as paramedical and ambulatory services, dental expenses, and certain prescription drugs.
More details can be found at https://www.npw.ca/our-services/group-pension-services-in-canada/
Nour Private Wealth says that its updated plans continue its mission of providing diverse wealth planning and management services for high net-worth businesses and individuals. All group pension plans can be customized to the client’s specific needs, including how the plan will be funded and the specific benefits it offers.
One of the more popular group benefits plans is the Pooled Registered Pension Plan (PRPP). This is a contribution-style plan for employees who are not covered by a workplace pension. In PRPP, both the employee and employer contribute an equal pool of funds each month for the employee’s future benefit. However, unlike other pension plans, PRPP can be transferred with the employee, meaning that they can have the same plan even if they change jobs.
For companies in Quebec, Nour Private Wealth also offers Voluntary Retirement Savings Plans (VRSP). This savings plan is a viable alternative to PRPP and is recommended for companies that want more flexibility. A VRSP is a voluntary retirement plan that allows both the employer and employee to contribute at their discretion.
Nour Private Wealth provides other options as well, from Defined Contributions Pension Plans to Registered Retirement Savings Plans. Regardless, all plans are carefully tailored for each client, with flexible and innovative features that anticipate future economic trends and circumstances. This assures clients that their plans will continue to be financially resilient for years.
Aside from group pension plans, Nour Private Wealth also offers wealth planning, investment planning, and insurance.
A spokesperson for the group said, “Group benefit plans are offered by companies as part of their total compensation package. It is offered to employees regardless of their seniority, position, or qualifications and often includes medical coverage for employees and their dependents.”
Interested parties can find more information by visiting https://www.npw.ca/what-are-group-benefit-plans-and-how-do-they-work/
Nour Private Wealth
2845 Bristol Circle
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No The Daily News Journal journalist was involved in the writing and production of this article.