Offering a workplace pension plan is a smart strategic move for small and medium-sized businesses. Not only does it provide long-term financial stability for employees, a workplace pension plan helps employers to attract and retain talent in a competitive job market. 80 percent of workers will change jobs just for a pension plan. Despite this, small and medium-sized enterprises rarely establish single-employer workplace pension plans because pension management is complex and risky.
The world of pensions has changed. New, 21st century multi-employer pension plan (MEPP) options are now available that offer fully-outsourced pension services. This can make offering a pension plan – even for a small business – both feasible and attractive. MEPPs are an increasingly popular choice because they deliver real pensions without the work and risk of pension administration. A defined-contribution (DC) MEPP is a particularly flexible and low-risk solution, both in terms of cost control and the retirement-income options it offers.
Blue Pier’s collective DC MEPP – Canada’s first Pension Plan as a Service – stands out as the pioneering provider of outsourced pension solutions. Open to any employer in Canada, Blue Pier™ offers a fully-customized, low-cost, low-risk, and high-performing pension solution that relieves both employers and employees of administrative tasks while delivering institutional-level investment management. This unbeatable combination makes it the best small business pension plan, a plan that owners of small and medium-sized businesses can “set and forget” with confidence in the knowledge that a Board of Trustees is there to provide continuing oversight.
When selecting a pension provider for your business, features matter. These are the ones you want:
When choosing a pension plan provider, there are some questions you’ll want to ask:
As a business owner, we understand that your time is precious. We understand that you need a low-touch, high-performing plan that is designed around your business needs and not the other way around. We understand you need a plan that will be there for the long haul but doesn’t tie you down with risky, long-term commitments. We understand you need a plan that reduces your workload, rather than adding to it.
Your employees need a plan that gives them peace of mind. They need a plan that helps them save for retirement without asking them to become investment managers. They need a plan that will be with them for life if they want and provides tax-free portability if they don’t. Your employees need a plan that offers a lifetime pension along with other options that might be a better fit for their unique personal and family circumstances.
If your small or medium-sized business needs a pension plan, you need Blue Pier™. Flexible, low-cost, low-touch, and gimmick-free, Blue Pier™ is a real workplace pension plan that simply gets the job done right.
|Avoids payroll taxes on employer contributions||✓||✓||✗||✓||✓|
|Low member / employer workload||✓||✗||✗||✗||✓|
|Institutional asset management||✓||✗||✗||✗||✓|
|Cross-subsidies among employers / members||No||No||No||No||Yes|
In 10 weeks or less, your small or medium-sized business can have its fully-customized workplace pension program up and running. Here’s how it works:
Don’t leave your retirement or that of your employees to chance. Book a free consultation or get in touch with Blue Pier™ today to start creating your customized pension solution. Experience the peace of mind that comes with a low-risk pension plan designed exclusively for business owners like you.
Important Note: The information provided here should not be considered or used as personalized or other financial advice. Always do your own research. For personal financial planning, Blue Pier™ recommends seeking independent financial advice from a licensed, fee-only financial planner.
Blue Pier™ is a registered trademark. The Blue Pier Retirement Plan is a pension plan registered under the Pension Benefits Act (Ontario) and the Income Tax Act (Canada).