Enlightened Benefits Consulting

BUILT ON EXPERTISE. DRIVEN BY SERVICE. GROUNDED IN INTEGRITY.

GROUP RETIREMENT CONSULTING

We design and enhance retirement plans that are competitive, compliant, and aligned with your organization's workforce goals.

Whether you're establishing a new plan or enhancing an existing one - we deliver strategic, transparent guidance at every stage,

helping leadership teams make informed decisions while supporting their employees as they plan for a confident retirement.

EMPLOYER SUPPORT

Group Retirement - Statement of Investment Policies & Procedures

Group Retirement - Market Search Analysis

Group Retirement - Plan Review & Investment Analysis

Group Retirement - Annual Governance Checklist

SERVICES

Plan Design Benchmarking
Record Keeper Comparisons & Fee Reviews
Implementation Structure & Process Leadership
CAPSA Compliance Management & AIR Reporting
Fiduciary Committee Support & Board Reporting
Plan & Investment Analysis & Reporting
ESG Investment Consulting
Administration Optimization & Assistance
DEI Solutions & Integration
Industry Insights & Market Trend Updates
Tailored Employee Communications
One-on-One Member Guidance
Investment & Retirement Planning Seminars
Proactive Plan Oversight & Support
Quarterly Retirement Outlook Updates

EMPLOYEE SUPPORT

Group Retirement - Education Presentation

GROUP RETIREMENT

PLAN DESIGN FLEXIBILITY

Defined Contribution Pension Plan

(DCPP)

A registered pension plan established by an employer and governed by provincial or federal pension legislation, depending on the jurisdiction.

Employer Contributions: Mandatory and defined in advance. They are a tax-deductible business expense for the employer and are not a taxable benefit to the employee. Employee Contributions: Often allowed. Contributions reduce taxable income at source and are tax-deductible to the employee - reported on T4 slip. Contribution Limit: Up to 18% of the employee's current year’s income, up to annual contribution limit. Contributions reduce RRSP room - reported as a Pension Adjustment on T4. No carry forward. Investment Growth: No taxes on investment growth. Taxes apply when withdrawn. Age Limit: Must be converted by Dec 31 of the year the member turns age 71.

Deferred Profit Sharing Plan

(DPSP)

An employer-sponsored retirement plan registered with the CRA that allows employers to share company profits with employees.

Employer Contributions: Made from company profits, based on a predetermined amount or formula under the plan. They are a tax-deductible business expense for the employer and are not a taxable benefit to the employee. Employee Contributions: Not allowed. Contribution Limit: Up to 18% of the employee's current year’s income, up to annual contribution limit. Contributions reduce RRSP room - reported as a Pension Adjustment on T4. No carry forward. Investment Growth: No taxes on investment growth. Taxes apply when withdrawn. Age Limit: Must be converted by Dec 31 of the year the member turns age 71.

Registered Retirement Savings Plan

(RRSP)

An employer-sponsored retirement savings plan registered with the CRA that allows employees to save for retirement through payroll contributions.

Employer Contributions: Often included at a pre-determined amount. They are a tax-deductible business expense for the employer and a taxable benefit to the employee. Employee Contributions: Allowed. Contributions reduce taxable income at source and are tax-deductible to the employee. Contribution Limit: Up to 18% of the employee's prior year’s income, up to annual contribution limit, plus any unused room carried forward. Applies to all RRSPs combined, less DCPP and DPSP Pension Adjustments. Unused room carries forward. Investment Growth: No taxes on investment growth. Taxes apply when withdrawn. Age Limit: Must be converted by Dec 31 of the year the member turns age 71.

Tax-Free Savings Account

(TFSA)

An employer-sponsored tax-free savings plan registered with the CRA that allows employees to save without being taxed on investment earnings or withdrawals.

Employer Contributions: Often not included, typically only employee contributions. If included, they are a tax-deductible business expense for the employer and a taxable benefit to the employee. Employee Contributions: Allowed. Contributions are made with after-tax dollars and are not tax-deductible. Contribution Limit: Up to annual contribution limit, plus any unused room carried forward. Applies to all TFSAs combined. Unused room carries forward, and withdrawals are added back to contribution room the following year. Investment Growth: No taxes on investment growth or withdrawals. Age Limit: No maximum age or mandatory conversion requirement.

Non-Registered Savings Plan

(NRSP)

An employer-sponsored, non-registered savings plan that allows employees to save for retirement or other financial goals through payroll contributions.

First Home Savings Account

(FHSA)

A registered savings plan that allows eligible employees to save for their first home through payroll contributions.

Employer Contributions: Often not included, typically only employee contributions. If included, they are a tax-deductible business expense for the employer and a taxable benefit to the employee. Employee Contributions: Allowed. Contributions reduce taxable income at source and are tax-deductible to the employee. Contribution Limit: Up to $8,000 annually and $40,000 lifetime. Applies to all FHSAs combined. Up to $8,000 of unused room carries forward. Investment Growth: No taxes on investment growth or qualifying withdrawals. Non-qualifying withdrawals are taxable. Age Limit: Must be closed by Dec 31 of the year of the earliest of: the 15th anniversary of opening the first FHSA, age 71, or the year following the first qualifying withdrawal.

INVESTMENTS

Investment options give employers a practical way to support different

investment objectives, risk tolerances, and stages of retirement planning.

Smaller plans typically use a standard investment lineup, while larger plans can typically select from

a broader range of funds with guidance from their Consultant.

TARGET DATE FUNDS

Target date funds are diversified investment funds designed around an expected retirement year. They automatically adjust the investment mix over time, gradually becoming more conservative as the target date approaches.

Employees typically select the fund closest to their expected retirement year, providing a simple, professionally managed investment option that simplifies ongoing investment decision-making.

KEY FACTORS:

Professionally managed portfolio.
Broad diversification across asset classes.
Simple investment selection.
No need to choose individual funds.
Automatic portfolio adjustments over time.
Reduces risk as retirement approaches.
Designed to align with retirement timing.

INDIVIDUAL FUNDS

Individual funds allow employees to build their own portfolio by selecting from the investment options available under the plan.

This provides greater flexibility over how their retirement portfolio is structured.

Employees can choose and combine funds based on their investment objectives, risk tolerance, and time horizon.

RANGE OF ASSET CLASSES:

Guaranteed Interest Accounts
Money Market
Fixed Income
Balanced
Canadian Large Cap
Canadian Small / Mid Cap
U.S. Equity
International Equity
Global Equity
Special Equity

TARGET RISK FUNDS

Target risk funds are diversified investment funds designed around a specific level of risk. They maintain an investment mix that reflects the selected risk profile over time.

Employees typically select the fund that best matches their risk tolerance and investment objectives, providing a simple, professionally managed investment option.

Members should periodically review their risk profile and adjust their fund selection as retirement approaches.

KEY FACTORS:

Professionally managed portfolio.
Broad diversification across asset classes.
Simple investment selection.
No need to choose individual funds.
Maintains a consistent risk profile.
Requires periodic review over time.
Designed to align with personal risk tolerance.

"Empowering employees to save and invest for the future

- with insights, resources, and objective guidance for more informed decisions.”

GROUP RETIREMENT

EMPLOYERS: FREQUENTLY ASKED QUESTIONS

Group Retirement Plans are workplace savings programs offered to eligible employees through an employer-sponsored plan as part of their overall compensation package. They are designed to help employees build long-term savings, benefit from employer contributions where offered, and support greater financial security in retirement. The employer determines the eligibility requirements, contribution structure, and overall plan design. Employees make contributions through payroll deductions and select how their savings are invested from the investment options available under the plan. Plans can be structured to reflect the needs of the organization and its workforce and may evolve over time as those needs change. Employers have ongoing responsibilities for plan governance, oversight, and applicable regulatory reporting. We help employers meet these responsibilities and help employees understand their plan so they can make informed decisions.

Group Retirement Plans can leverage the purchasing power of a larger group, often providing employees with access to lower investment management fees than they may be able to obtain individually. They also make it easier to build long-term savings through regular payroll deductions and, where offered, employer contributions, while providing access to investment options, financial education, and retirement planning resources. Group Retirement Plans can also provide tax advantages, depending on the type of plan, while encouraging consistent saving and tax-deferred investment growth where applicable. Over time, this can help employees improve their financial security and retirement readiness. A well-designed Group Retirement plan is an important component of total compensation. It can help differentiate the organization from competitors, strengthen the overall employee value proposition, and support the attraction and retention of employees.

The primary cost to the employer is the contribution it makes to the plan. Employer contributions are typically established as a percentage of eligible employee earnings and may be structured as a fixed contribution, a match of employee contributions, or a combination of both with dollar maximum considerations. As a general benchmark, employer contributions average around 3% of eligible earnings. Contribution levels can vary based on the plan design, organization’s budget, and workforce objective. Where an employer match is offered, the employer’s cost will depend on the contribution formula and employee participation. Consultant Compensation: Our compensation is paid by the insurer and calculated as a percentage of all or a portion of the assets, contributions, or transfers in the plan. This compensation is included in the Investment Management Fees (IMFs) members pay on their investments. The compensation arrangement is reviewed annually as each client’s organization and plan evolve and is disclosed transparently to the employer.

Employee education and communication are an important part of a well-managed Group Retirement Plan. We help employees understand how their plan works and the options available to them throughout every stage of saving, from enrolment and contributions through investment decisions and retirement planning. Our approach is aligned with CAPSA Guidelines, which emphasize clear, ongoing and appropriately tailored member education and communication. We review plan and member data as part of our ongoing Plan Review & Investment Analysis to identify trends, areas of concern and opportunities to improve member outcomes. Recommendations for employee communication and education are then based on the findings of that review rather than a one-size-fits-all approach. Support includes tailored plan summaries, enrolment materials, employee communications and one-on-one member guidance. Employees can also reach out to us directly when they have questions about their plan or need help understanding the options and resources available to them. We also offer 8 distinct education seminars as a part of our service offering: Plan OverviewInvestments: BasicsInvestments: AdvancedBudgeting & SavingsFinancial WellnessFinancial PlanningRetirement: IncomeRetirement: Lifestyle

A Group Retirement plan should be reviewed regularly, but that does not mean it should be marketed to insurers every year. As a general guideline, we recommend assessing whether a formal market review is warranted around the 3-year mark and conducting one around the 4- to 5-year mark to ensure the plan remains competitive. A market review does not necessarily mean changing providers - it provides an opportunity to assess fees, investments, administration, technology, member support, and overall service against the broader market. These periodic evaluations are also an important part of ongoing plan governance, and there are circumstances where going to market sooner may be appropriate, including: Significant growth in plan assets or membershipConcerns with investment performance or fund lineupFees that are no longer competitiveOngoing service or administration concernsA merger, acquisition, or major organizational changeNew regulatory, governance, or reporting requirements The objective is not to continually search for the lowest fees or change providers unnecessarily. It is to maintain a competitive, well-governed Group Retirement Plan that continues to meet the needs of the organization and its employees.

GROUP RETIREMENT

EMPLOYEES: FREQUENTLY ASKED QUESTIONS

Group Retirement Plans vary by employer, plan design, and provider. Employees can confirm how their plan works by reviewing the Member Booklet provided by the insurer or provider. It outlines important plan details such as participation, eligibility, contributions, withdrawal rules, default fund, and other plan provisions. If we are your Group Retirement Consultant, employees should also have access to the Plan Overview Summary designed to make the plan easier to understand. It highlights the key features employees need to know, summarizes the plan, and provides important links, contact details, and access information in one convenient resource. As a summary resource, the insurer’s Member Booklet and governing plan documents remain tthe governing sources for plan details. Should you wish to access this resource, please contact your employer directly.

There is no single savings amount that is right for everyone. How much you need to save depends on factors such as your existing savings, other expected sources of retirement income, including CPP and OAS, your desired lifestyle in retirement, your current age, your planned retirement age, expected expenses, and other personal financial circumstances. As a general guideline, retirement income needs are often estimated at approximately 60-80% of current annual income to maintain a similar standard of living, although individual needs can vary significantly. RETIREMENT PLANNING RESOURCES:Government of Canada: www.canada.caCanada Life: www.canadalife.comDesjardins: www.desjardins.comiA Financial Group: www.ia.caManulife: www.manulife.comSun Life: www.sunlife.ca Disclaimer: External links are provided for convenience or informational purposes and do not constitute an endorsement by EBC or insurance, investment, financial, legal, tax, or other professional advice. EBC does not control third-party websites, and your use of those websites is subject to the applicable third party’s own terms, conditions, and privacy practices. Any results generated by calculators or tools are estimates based on the information and assumptions used, and no result or outcome is guaranteed. Please verify information and seek appropriate professional advice before making any decisions.MONTHLY BUDGET TRACKERDOWNLOAD Understanding your current cash flow is an important part of determining how much you may be able to save. Our Monthly Budget Tracker is a simple tool that can help you organize your income and expenses and identify spending patterns or opportunities to increase savings in one place. Once completed, consider: reviewing and updating it regularly as your income or expenses change;using it to identify spending patterns and opportunities to save. Disclaimer: This resource is provided for organizational purposes only. It does not constitute insurance, investment, financial, legal, tax, or other professional advice, and no result or outcome is guaranteed. EBC’s downloadable resources are intended to be saved and used on your own device; information you enter into them is not submitted to or stored by EBC. Please verify information and seek appropriate professional advice before making any decisions.If we are your Group Retirement Consultant, we can provide additional resources and are happy to schedule a one-on-one meeting to offer guidance. Please use your consultant’s direct contact information or Contact us.

There is no single investment option or mix that is right for everyone. Your investment decisions should reflect factors such as your personal risk tolerance, retirement goals, and overall financial circumstances. Your personal investment knowledge, diversification, investment fees, and the level of risk associated with each option are also important considerations. Your Group Retirement Plan insurer or provider will typically offer investment information and decision-making tools to help you understand the options available under your plan. This may include an investment risk questionnaire, fund information, performance history, fees, and pre-built investment options designed around a target retirement date or target risk profile. Investment selections should also be reviewed periodically, particularly as your circumstances, retirement timeline, or risk tolerance change. Past performance should not be relied upon as a guarantee of future results. If we are your Group Retirement Consultant, we can provide additional resources and are happy to schedule a one-on-one meeting to provide guidance. Please use your consultant’s direct contact information or Contact us.

This is a federal program that allows eligible individuals to withdraw funds from their RRSP to help buy or build a qualifying home. Your Group RRSP may permit these withdrawals. Key details are outlined below, as of September 2026. Withdrawing:Maximum $60,000 per eligible individual / $120,000 combined per eligible couple (2026).Funds should be in your RRSP for at least 90 days before withdrawal.Complete T1036 Form. Eligibility:Must be a Canadian resident (between withdrawal and purchase / build period).Must not have owned a home you lived in during the previous 4 years.Must have a written agreement to purchase / build a qualifying home.Must purchase or build the home by October 1 of the year after the year of the first withdrawal.Must intend to use the home as your principal residence within 1 year of purchase / build. Repayment:Must repay the full amount to your RRSP over 15 years.Initial minimum annual repayment is generally 1/15th of the total amount withdrawn. Future minimum repayments may change based on your remaining HBP balance.Repayment begins the 5th year after the year of your first withdrawal made from 2026-2028.For reporting repayments, fill out Schedule 7 and include in your tax return. Repayments are not tax-deductible. If you miss a repayment, the shortfall is added to your taxable income for that year. Re-Qualifying:Must meet all eligibility rules again and have zero balance owing on January 1 of the year you plan to withdraw.Insights: Employee contributions to your Group RRSP receive a tax deduction at source. If you are intending to use these contributions towards repayment of the HBP, consider submitting Form TD1 to your employer to increase tax withheld at source so you avoid a large year-end tax balance owing.

This is a federal program that allows eligible individuals to withdraw funds from their RRSP to finance qualifying education or training for themselves or their spouse or common-law partner. Your Group RRSP may permit these withdrawals. Key details are outlined below, as of September 2026. Withdrawing:$10,000 per year, up to $20,000 total / $40,000 combined per eligible couple (2026).Funds should be in your RRSP for at least 90 days before withdrawal.Complete RC96 Form. Eligibility:Must be a Canadian resident at time of withdrawal.Must be enrolled (or have a written offer to enrol) in a qualifying full-time program at a designated institution.Cannot be used to fund your children's education. Repayment:Must repay the full amount to your RRSP over 10 years.Initial minimum annual repayment is generally 1/10th of the total amount withdrawn. Future minimum repayments may change based on your remaining LLP balance.Repayment begins the 5th year after your first withdrawal (if you remain a qualifying student).If you stop being a qualifying student for 2 consecutive years, repayment begins in the 2nd of those years.For reporting repayments, fill out Schedule 7 and include in your tax return. Repayments are not tax-deductible. If you miss a repayment, the shortfall is added to your taxable income for that year. Re-Qualifying:Must meet all eligibility rules again and have zero balance owing on January 1 of the year you plan to withdraw.

"Christine is an expert retirement consultant whom I have had the pleasure of working with for the past several years.

Her wealth of knowledge in this field is impressive. She is always willing and available to help us and more importantly, our employees. She is passionate about what she does and her energy shows in her presentations and communications for our employees.

Christine’s services are an invaluable

resource for your team!"

- CLIENT TESTIMONIAL -

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Terms & Conditions

Cookies Policy

A registered pension plan established by an employer and governed by provincial or federal pension legislation, depending on the jurisdiction.

KEY FEATURES:

An employer-sponsored retirement plan registered with the CRA that allows employers to share company profits with employees.

KEY FEATURES:

KEY FEATURES:

An employer-sponsored tax-free savings plan registered with the CRA that allows employees to save without being taxed on investment earnings or withdrawals.

KEY FEATURES:

An employer-sponsored, non-registered savings plan that allows employees to save for retirement or other financial goals through payroll contributions.

KEY FEATURES:

KEY FEATURES:

What is a group retirement plan?

Why offer a group retirement plan?

How much does a group retirement plan cost?

How are group retirement members supported?

When should a group retirement plan be marketed?

How does a group retirement plan work?

How much do I need to save for retirement?

How do I choose my investments?

What is a Home Buyers' Plan withdrawal?

What is a Lifelong Learning Plan withdrawal?

​A registered pension plan established by an employer and governed by provincial or federal pension legislation, depending on the jurisdiction.

KEY FEATURES:

An employer-sponsored retirement plan registered with the CRA that allows employers to share company profits with employees.

KEY FEATURES:

KEY FEATURES:

An employer-sponsored tax-free savings plan registered with the CRA that allows employees to save without being taxed on investment earnings or withdrawals.

KEY FEATURES:

An employer-sponsored, non-registered savings plan that allows employees to save for retirement or other financial goals through payroll contributions.

KEY FEATURES:

KEY FEATURES:

What is a group retirement plan?

Why offer a group retirement plan?

How much does a group retirement plan cost?

How are group retirement members supported?

When should a group retirement plan be marketed?

How does a group retirement plan work?

How much do I need to save for retirement?

How do I choose my investments?

What is a Home Buyers' Plan withdrawal?

What is a Lifelong Learning Plan withdrawal?

A registered pension plan established by an employer and governed by provincial or federal pension legislation, depending on the jurisdiction.