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Helping employees prepare for retirement
Navacord works with organizations across Canada to design and manage group retirement and savings plans that support employees today and into the future. As independent advisors, we draw on long-standing relationships with leading national carriers to help organizations design solutions that align with their goals, workforce needs, and long-term plan strategy.
Guided by experience
A clearer path to group retirement planning
With decades of experience in group retirement and savings, Navacord helps organizations navigate plan design, implementation, and ongoing management with confidence. Our advisors look beyond today’s needs, ensuring each plan is built to support employees’ retirement goals while adapting to the changing priorities of your organization.
A structured approach
Designing a group retirement plan that fits your organization
Navacord’s simple, but effective process helps organizations move from initial discovery to ongoing plan management with greater clarity and control. Each stage is designed to support practical decision-making, align the plan with employee needs and business objectives, and respond to changing market conditions. Our process includes:
We begin by understanding your organization’s goals, workforce demographics, and current retirement plan needs.
Our advisors develop a tailored strategy that balances employee retirement outcomes with your organization’s budget, priorities, and governance requirements.
We support carrier and investment reviews, plan selection, and implementation to help ensure a smooth transition from strategy to launch.
Clear communication and education help employees understand the value of the plan and make informed decisions about their retirement savings.
After implementation, we provide ongoing guidance to help your plan stay aligned with employee needs, market conditions and organizational goals.
Group retirement solutions designed for your workforce
Navacord advisors bring specialized expertise in group retirement and savings programs, with a focus on capital accumulation plans. We support organizations with governance and legislative requirements, plan design, implementation, investment selection, ongoing monitoring, and practical advice. Depending on your organization’s goals, your group retirement solution may include:
Defined Contribution Pension Plan (DCPP)
A DCPP is an employer-sponsored pension plan designed to help employees build retirement income. Employers are required to contribute, while employee contributions may be optional or required depending on the plan. Contributions are generally tax-deductible within prescribed limits, and investment growth is tax-deferred until funds are withdrawn in retirement and taxed as income.
Registered Retirement Savings Plan (RRSP)
A group RRSP gives employees a tax-advantaged way to save for retirement through payroll deductions or regular contributions. Contributions are generally tax-deductible, and investment growth is tax-deferred until the funds are withdrawn in retirement and taxed as income.
Deferred Profit Sharing Plan (DPSP)
A DPSP allows employers to share company profits with employees as part of their retirement savings strategy. Employer contributions may be based on company profits or a predetermined formula, are generally tax-deductible within prescribed limits and grow tax-deferred until withdrawal. A DPSP is often paired with a group RRSP.
Tax-free Savings Account (TFSA)
A TFSA provides employees with a flexible savings option where investment income and withdrawals are tax-free. Contributions are made with after-tax dollars and are not tax-deductible, but income, gains and withdrawals from the account are generally not taxed.
Non-Registered Savings Plan (NRSP)
An NRSP offers additional savings flexibility for employees who have reached contribution limits for registered plans such as RRSPs or TFSAs. Contributions are not tax-deductible, investment growth may be subject to tax and withdrawals are generally taxed as income.
First Home Savings Account
The FHSA is a registered plan that helps first-time homebuyers save up to $40,000 tax-free, combining the tax-deductible benefits of an RRSP with the tax-free withdrawals of a TFSA.
A practical partner for group retirement planning
Choosing the right group retirement and savings plan can be complex. Navacord advisors help simplify the process by combining market insight, plan design expertise, and practical guidance tailored to your organization’s goals and employee needs.
Independent advice
As an independent Canadian organization, Navacord provides objective guidance informed by local market knowledge and focused on what best supports your plan members and business priorities.
Employee-owned perspective
With a strong employee-owned culture, we are invested in building lasting client relationships and delivering advice that supports sustainable retirement plan outcomes.
Added value beyond plan design
Our clients can access value-added support and resources that extend beyond traditional consulting, helping strengthen communication, education and ongoing plan management.
Looking for business insurance?
From small businesses to large corporations, Navacord delivers tailored business insurance and expertise across Canada.
FAQs about group retirement and pensions
A thoughtfully designed group retirement savings plan can strengthen an organization’s total rewards offering by helping employees save more consistently for the future. As the cost of everyday expenses continues to affect household budgets, many employees value workplace savings support as part of their overall financial wellbeing.
For employers, offering or enhancing a group retirement plan can support recruitment, retention, and employee engagement by showing a clear investment in employees’ long-term financial security.
Employee engagement often starts with clear communication. Many plan members may not understand how the plan works, what tools are available, or how small contributions can build over time, so education should make the benefits of participation easy to understand.
Employers can improve participation by offering accessible education sessions, recorded webinars, short videos, and practical resources that help employees make informed decisions about retirement savings.
Employers should communicate to employees about their group retirement and savings plans regularly, with formal education sessions offered at least once a year. Ongoing reminders, plan updates, and targeted communications can help employees stay engaged and build confidence in their retirement planning decisions.
Default investment options should be selected with employees’ retirement outcomes in mind. Target-date funds or balanced funds are often used because they provide diversified exposure within a single investment option and can be easier for employees to understand than building a portfolio on their own.
With target-date funds, the investment mix typically adjusts over time based on the employee’s expected retirement date, becoming more conservative as retirement approaches. This can help support employees who are less engaged in investment selection while still keeping retirement readiness at the centre of the plan design.
A successful rollout starts with clear ownership and a practical implementation plan. Employers typically identify an internal plan lead, such as someone in HR, payroll or finance, to coordinate enrolment materials, payroll deductions, eligibility details, and employee questions.
Employee communications should explain how the plan works, why retirement savings matter, contribution options, employer matching, fees, withdrawals, and where employees can access additional support.
Yes. Navacord advisors can support plan implementation, employee education, and ongoing plan management. This may include information sessions, employee meetings, communication materials, and resources that help plan members understand the value of their group retirement and savings plan.
Group retirement and pension solutions