The NBP - Defined Contribution Pension Plan provides First Nation employers with the opportunity to offer a pension plan to their employees.
This type of pension plan is suited to employers who are concerned with helping their employees in building an income for their retirement.
In the NBP defined contribution plan, contribution amounts are established in advance.
Flexibility and Adaptability
Given its flexibility and adaptability, employers may select which contribution rates they wish to invest in. Such rates range from 2% to 18% of the employee’s regular gross salary.
Pension Plan Specifications:
All pension plans offered by RBA Financial Group allow Aboriginal employees to obtain a benefit which is both tax-free and hassle-free, provided that the salaries associated with those benefits are tax-exempt (Williams case 1992). This information is general and should not be considered official in any way.
The NBP defined contribution plan allows participants to take advantage of voluntary contributions.
The NBP defined contribution plan is a pension plan registered with the Office of the Superintendant of Financial Institutions and the Canada Revenue Agency. It meets the requirements of federal legislation governing pensions and the Income Tax Act.