Group Benefits & Pensions

GEM Financial Group will maximize the productivity and profitability of your business by using the Managed Approachâ„¢ to Benefits and Pensions. Take advantage of our expertise and experience in creating the right group program for you and your employees.

Group Retirement & Savings Plan

If you have a business, group retirement and savings plans can play a key role in helping you attract and retain quality employees. We have access to a wide variety of group retirement and savings plans. These plans include:

  • Group registered retirement savings plans
  • Deferred profit sharing plans
  • Defined contribution pension plans
  • Non-registered savings programs
  • Group TFSA
  • Individual pension plans for executives

Group Categories

Each benefit program is unique and customized to the needs of your business and employees. Some of the components of a group plan could include:

  • Life insurance for employees and dependents
  • Accidental death and serious illness
  • Critical illness
  • Short and long-term disability
  • Extended healthcare
  • Drug benefits and catastrophic drug coverage
  • Vision care and eyeglasses
  • Out-of-country emergency
  • Expat and foreign workers coverage
  • Dental coverage
  • Healthcare spending accounts

Employees are less likely to leave an employer with a good benefit plan in place and more likely to retire from employment at the right time with a group retirement plan in place.

We take a managed approach to group benefits plans.

At GEM Financial Group, we use a managed approach to group benefit plans. Whereas the traditional role of a group benefits carrier is claims adjudication, we take an active approach to minimize the risk associated with rising costs, runaway claims, tax inefficiency, and hidden liabilities. For example:

  • Through proper disability management, the duration of a disability claim can be 30% shorter.
    Source: Disability Management Institute (DMI 2009)
  • A well-designed employee wellness plan can reduce drug costs and other health care costs by over 12%.
    Source: GroupHealth Global business block saw 0 increases in pooled benefits over a 3 year period whereas average group  insurance block saw increases of 12% per year average (GHG statistics 2010)
  • A good fraud prevention strategy can reduce claims by 8%.
    Source: Canadian Life and Health Insurance Association (CLHIA 2009.)

These are just a few examples of how a managed approach to group benefit plans can help keep costs in check while enhancing the welfare and morale of your employees.

The GEM Group Benefit Process

The Progressive Snapshot

Renew engagement process and commitments. Quarterly reviews and meetings to assess plan usage and effectiveness. Exploring new trends and hidden liabilities. Year end benefit value statements. Assessment of effectiveness of carrier and advisor.

Contact us for a free, no obligation assessment of your employee benefit program.