Orooj Financial

1. What is Retirement Compensation Arrangements?

RCA or Retirement Compensation Arrangements are tax-exempted funds to help contribute towards retirement of key employees.

2. Who should consider Retirement Compensation Arrangements?

If you are 10 -15 years from retirement, need life insurance, have ready disposable income or maxing out on your annual RRSP contributions, you should consider RCA.

3. Benefits of Retirement Compensation Arrangements

RCA payments can be paid as a lump-sum or supplementary retirement benefit. The advantages are:

  • Contributions are tax deductible for the company
  • Contributions are not taxable to the employee until the benefits are received
  • Taxes paid by the employee are generally lower
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