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Adding a group benefits plan demonstrates to employees that they are being invested in, which ultimately attracts and retains quality talent. It also helps to foster a healthy workplace and reduces absenteeism. The options in available plans allow the convenience of buying coverage through payroll, and some or all of the premiums can be deducted as a taxable expense.


Group Benefits Are a Valuable Component to Businesses of Any Size

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Traditional Group


Health Spending Accounts (HSA)

Personal Spending Accounts (PSA)

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Traditional Group Benefits

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Health Spending Accounts (HSA)

Whether you’ve got 2 employees or 2000+, you have the freedom to fully customize a plan that offers the essential coverage to your workers and help keep them happy and healthy. Traditional group plans provide a layer of life insurance, benefits for drugs, vision care, major dental procedures as well as check-ups. Group plans also give employees coverage to see various practitioners and specialists not covered by government programs for services like physiotherapy and massage. Short-and-long-term disability insurance can be built into group plans to give sick or injured employees financial assistance and supplement their income while they’re away as well as provide services to help them get back to work sooner. Out-of-country benefits are also available to provide travel insurance to plan members while abroad.

Personal Spending Accounts (also known as wellness accounts) add another layer of benefits to a group plan. PSA’s are designed to provide wellness benefits not already covered by the base group plan. Their purpose is to enhance employees’ lifestyle and can pay for a wide variety of expenses including gym memberships, running shoes, classes, transit passes and child-care fees. HSA’s incentivize key employees of the business by providing additional wellness benefits to the overall plan.

A Health Spending Account is a versatile tool that helps provide reimbursement for health-related expenses. A set amount of funds are assigned to every employee and can be used for eligible health expenses according to the Medical Expense Tax Credit guide by the Canada Revenue Agency. Use an HSA to fortify a group plan and deploy funds to pay coinsurance and deductible expenses, top up plan maximums to provide additional coverage for plan benefits or use an HSA as a stand-alone product to provide a cost-effective alternative group benefit solution for your business needs.


Personal Spending Accounts (PSA)

Group Pensions

Group Pensions are a wonderful way for employees to save for the future. They also offer potential for the employer contributions to be tax deductible. Finally, they help to retain and attract quality employees.

Volpe Financial Solutions is a dedicated team of Brokers with the expertise, tools, and resources to scour the market for the most effective tailored solution within your budget.

Once in place, we offer periodic review of your plan in order to ensure maximum performance. As always, VFS is available to support and facilitate any administrative needs that may arise.



With a DBPP plan, you know how much your benefit and the income you can expect to receive will be. The amount you will receive is usually based on a formula involving your years of service and your earnings. With a DBPP, you’re not actively involved. Your employer manages the pension fund’s assets and is responsible for making sure the benefit is paid as promised.


With a DCPP, you know how much you are contributing, but not how much you will take out. That depends on the performance of the assets invested in your individual retirement plan account (typically, mutual funds, segregated funds, and index’s) up to the time you retire. With a DCPP, your employer contributes to your pension according to a particular formula, and you may or may not have to make some type of matching contribution. These contributions are usually a fixed percentage of your salary or on a specific dollar amount and go into an account in your name.


A DPSP is a registered plan that allows companies to share their profits with employees. DPSPs provide tax incentives and allow for vesting periods on employer contributions but do not allow employees to contribute to the plan. A Deferred Profit Sharing Plan, combined with a Group Retirement Savings Plan can be a cost-effective alternative to a Defined Contribution Pension Plan.


A group registered retirement savings plan is a company-sponsored plan that the employer offers to all eligible employees. Each employee has their own RRSP account and can choose how to invest their money. If your company offers GRRSPs, that means your employees can make contributions to the plan through payroll deductions.

We love payroll deductions, because they result in two major investing wins for employees:

(1) forced savings through automated contributions (set it and forget it), and

(2) taking advantage of dollar cost averaging (DCA) by spreading out investment purchasing to safeguard against buying everything at a high price.

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