Your employees are seeking affordable retirement savings!
88% of employees believe all workers should have access to an affordable retirement savings arrangement.1
Join other employers offering the plan
Golden Opportunities Fund’s Payroll Investment Plan (GOF PIP) is your first step to offering employees an affordable retirement savings option. Join more than 200 Saskatchewan companies, including all crown corporations and a number of private employers, that offer employees this affordable option to increase their savings and keep their investment dollars at home.
GOF PIP allows employees to make direct contributions to their Golden Opportunities investment each pay period. The 32.5% tax credit is used to reduce the amount of tax currently withheld – redirecting these tax savings to the employee’s Golden Opportunities Fund account, reducing the net cost of the investment.
The GOF PIP is a simple, tax-efficient retirement savings plan for your employees helping you to attract, retain, and reward employees while assisting with their long-term savings objectives.
The best part…there are no fees to the employer or the employee.
BONUS! The employee will receive the additional 32.5% in tax credits on any amount the employer contributes to the employee’s account – reducing the net cost of saving even more for the employee!
Employer Matched Plan (Recommended)
Employer and employee both contribute. This is our most popular plan.
The employer’s contribution will be a taxable benefit offset by the deposit to the employee’s RRSP, so it is tax neutral to the employee and a deductible expense to the employer.
The employee’s taxes can be lowered because of RRSP contributions and the tax credits resulting from both employer and employee deposits.
For employees, a small change in net pay can results in a meaningful amount invested.
BONUS! The employee will receive the additional 32.5% in tax credits on any amount the employer contributes to the employee’s account – reducing the net cost of saving even more for the employee!
Employee Voluntary Plan
Employee’s choose to invest and the employer facilitates deposits to Golden Opportunities as a payroll deduction.
Example: $34 will be deducted from employee’s net pay for every $104 invested in a Golden Opportunities RRSP.*
*By combining the provincial and federal tax credits with the RRSP tax savings attached to the Fund, a semi-monthly contribution of $34 can result in
an annual RRSP investment of $2,500 based on 24 pay periods per year, basic personal tax exemptions and a sample marginal tax rate of 35%. Marginal
tax rates vary per individual; for more information visit GoldenOppsFund.com/Payroll-Calculator.
Our online portal makes employee enrollments easy.
We will coordinate the set-up of an online registration portal for your employees to register and work with your payroll department to ensure processing is set up correctly.
Every pay period, GOF PIP contributions are deducted through payroll and remitted to Golden Opportunities Fund to be deposited into your employees’ accounts. Your employees pay less tax every payday thanks to you and the GOF PIP!
I would like more information.
1 Hoopp.com – Canadian Retirement Survey 2024