Putting together a DC retirement program

Defined contribution programs have been the plan of choice for small- and mid-sized firms.
By Colin Ripsman
|Canadian HR Reporter|Last Updated: 11/01/2001

In the current environment where attracting and retaining top talent is essential, yet the pressure to keep costs down is imperative, small- and mid-sized companies are often challenged to keep their pension offerings competitive.

Retirement programs are highly valued by Canadian employees, and are considered an integral component of a company’s compensation package. Where no retirement program is offered, a company’s total compensation program can be perceived as deficient or uncompetitive relative to its competitors in the marketplace. So how do small- and mid-sized companies go about offering competitive plans? DC plans have become the “plan of choice” for small to mid-sized employers.

These plans are attractive because: