The plan consultants who finish the job
Most group retirement plans are built to collect savings. Then someone retires.
Your organization already has a plan. We help ensure it can pay your people an income when they stop working.
The first step is the Retirement Readiness Snapshot. It is a free, one-page review of the plan you have now, so you know whether it is ready for the day your people retire, and what it could cost you if it is not.
Request the Retirement Readiness Snapshot
In most cases your plan and your carrier stay exactly where they are.
The Snapshot
A one-page analysis of your group plan, graded on five dimensions.
- 01Savings adequacy
- 02Retirement-window concentration
- 03Workforce cost exposure
- 04Exit-fitness of plan design
- 05Member engagement
Free. No commitment. Returned within a week.
The unfinished job
Enrollment gets the attention. It is not where the plan gets tested.
When a group RRSP or DC pension plan is set up, the work goes into getting it running: a carrier, a fund lineup, enrollment forms, contributions flowing from payroll. Then it is called done. In most organizations, completed enrollment is the finish line.
We'd put it later. The plan gets tested when a long-serving employee sits down and asks whether what is in it will pay them a living for the next thirty-five years. Most plans were never built for that day. Most members get there without an answer.
And when people cannot tell whether they can afford to retire, they delay the decision. Sometimes for years. Payroll runs higher than planned, and the person waiting for that role keeps waiting.
We stay for that part. It's the job we finish.
The Snapshot
Start with an honest read of the plan you have now.
The Retirement Readiness Snapshot is a free review of your current plan. No commitment. You do not have to change anything to get one, and nobody will ask you to.
01
Savings adequacyWhether contributions get a career-long member to an income they can live on.
02
Retirement-window concentrationHow many members reach retirement age in the same few years.
03
Workforce cost exposureWhat delayed retirement is costing the company, on conservative assumptions.
04
Exit-fitness of plan designWhether there is a clear path to turn savings into monthly income.
05
Member engagementWhether members are making decisions or sitting at the default.
One question underneath
When a member retires, is there a clear path to turn what they saved into monthly income? Most plans don't have one. The Snapshot tells you whether yours is ready for that work.
The investment lineup
Sponsors ask about the investment lineup more than anything else, so we look at that too. Last year's fund performance matters less than whether the choices are appropriate for your plan.
Then there are the fees
Inside a group plan, members pay workplace fees. When one retires, the money usually moves into a personal account and the fees go up to retail. Most people learn that after the fact, if they learn it at all.
Sample page from a Snapshot
Savings adequacyB
Retirement-window concentrationD
Workforce cost exposureC
Exit-fitness of plan designD
Member engagementC
| Fund | In plan | After retirement |
|---|---|---|
| Target date 2030 | 0.72% | 1.88% |
| Balanced | 0.95% | 1.94% |
Illustrative. Figures shown are from a sample plan, not a real one.
Where we put a dollar figure on workforce cost, the assumptions are conservative. We show the steps behind each one, so you can check them against your own numbers.
Request the Retirement Readiness SnapshotIn most cases your plan and your carrier stay exactly where they are.
If the Snapshot finds the plan is not ready for the day people retire, you keep the plan. What changes is how it is looked after.
How it works
Your plan stays. Your carrier stays. What changes is who looks after it.
Sponsors sometimes assume a new consultant means starting over. It usually doesn't. If your plan sits with Sun Life, Manulife, Canada Life, or another insurer, that company stays put, along with the accounts and contribution history. Nobody re-enrolls. Nobody sees a change on payday.
What changes is who is responsible for the plan between renewals, and what that person measures. Most of our work is a clean handover of the arrangement you already have.
Two kinds of help
Quotes and renewals are one kind of help. This is the other.
Placed and renewed
At many companies, the retirement plan was placed with the health and dental coverage. It has been looked after the same way ever since: a quote at renewal, a signature, then quiet until next year. That work matters, but it isn't retirement plan consulting.
Retirement plan consulting
Plan consulting is ongoing. We are carrier-agnostic. We stay with the plan through the year, and we judge our work by whether the people in it can retire on an income they can live on.
Whoever looks after your health and dental keeps that job. We take on the management of the group retirement plan.
Who this is for
If you already sponsor a group RRSP or DC pension plan, this is for you.
You already sponsor a group RRSP or DC pension planIn most cases, we do not help companies start plans. We work with organizations who already have one and want it finished properly.
Your plan sits with an insurer or financial technology providerIt can usually stay where it is. Nobody re-enrolls.
Your plan is at a bankWe move it to an insurer that allows an outside consultant to look after it. We do that routinely. It does not change whether this page is for you.
Who we are
Canada's Best Pension Plan Ltd.
CBPP is a group retirement plan consulting firm. It was formed in 2016 by investment and financial planning professionals who left a large Canadian financial institution to do this one kind of work, all the way through.
Sponsors hire the firm, and the firm stays with the plan. We do not sell a product, we do not run the recordkeeping, and we follow the FP Canada Standards of Professional Responsibility.
We serve organizations in multiple provinces across Canada, and US organizations with subsidiaries in Canada.
Snapshot request
Request a Retirement Readiness Snapshot
Free. No commitment. In most cases your plan and your carrier stay exactly where they are.
Request received.
We send back a one-page Snapshot of your plan within a week. If we need anything else, we will ask for it in one email.
Nothing changes at your carrier because you asked for this.