You’ve been tasked to make good choices for your company and with your employees’ pension money. No pressure, with SaskWorks Venture Fund, you are buying into companies like yours: well-managed, community-focused and employee-centric.

SaskWorks Payroll Savings Plan comes with no cost to the employer or employee. Join other Saskatchewan employers offering the SaskWorks Payroll Plan.

The SaskWorks Venture Fund’s Payroll Investment Plan is a simple, tax-efficient way for your employees to save.

The Payroll Investment Plan allows employees to make direct contributions to their SaskWorks investment, each pay period. The 32.5% tax credit is used to reduce the amount of tax currently witheld — so your employees will only see a minimal reduction in their net pay while receiving a large benefit.

No administrative cost to you, the SaskWorks Payroll Investment Plan is an attractive retirement savings plan for your company’s staff. The SaskWorks Payroll Saving Program can be used to attract, retain, and reward while assisting employees with their long-term savings objectives.

Plans offered:

1. Employer Matched Plan

Employer and employee both contribute. This is our most popular plan.

The employer’s contribution will be a taxable benefit offset by the deposit to the employee’s RRSP, so it is tax neutral to the employee and a deductible expense to the employer.

The employee’s taxes can be lowered because of RRSP contributions and the tax credits resulting from both employer and employee deposits.

For employees, a small change in net pay results in a meaningful amount invested.

2. Employee Voluntary Plan

Employee’s choose to invest and the employer facilitates deposits to Saskworks as a payroll deduction.

Approximately $35 will be deducted from employee’s net pay for every $100 invested in a SaskWorks RRSP.

Calculate change in net pay for employees

Assumes $5,000 invested to a Saskworks RRSP for one year
If negative amount is displayed, net pay has increased
a $192.31
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