STRATEGIC PLANNING FOR EMPLOYEE BENEFITS
STOP MANAGING EMPLOYEE BENEFITS.
START FOCUSING ON EMPLOYEE WELLNESS.
Valeo+ is committed to helping companies prosper. As a national service provider, we work in partnership with insurance companies and other suppliers. We create unique, tailored solutions so that the investments our clients make in their employees always provide an excellent return. A number of studies show that an organization saves an average of three dollars for every dollar invested in financial wellness programs for employees.
STOP MANAGING EMPLOYEE BENEFITS.
START FOCUSING ON EMPLOYEE WELLNESS.
Valeo+ is committed to helping companies prosper. As a national service provider, we work in partnership with insurance companies and other suppliers. We create unique, tailored solutions so that the investments our clients make in their employees always provide an excellent return. A number of studies show that an organization saves an average of three dollars for every dollar invested in financial wellness programs for employees.
WHY CHOOSE VALEO+ AS YOUR PARTNER?
To work with a company at a human scale that is fully invested in your reality and your success while able to adapt with great agility.
To benefit from the flexibility of an independent firm when it comes to choosing employee benefit solutions appropriate for the size of your company.
To finally have a clear view of your plan’s data, performance and impact.
To stand out from the market with an employer brand enhanced by the quality of our day-to-day involvement.
OUR WORKPLACE FINANCIAL WELLNESS PROGRAM
OUR WORKPLACE FINANCIAL WELLNESS PROGRAM
The program we have developed is simple and effective. The goal is to improve employees’ overall financial position.
To reach this goal, we work on three key factors:
1. Reduce financial stress
2. Build financial literacy
3. Improve financial wellness
The success of this program is based not only on its design, but also on the quality of the products and services as well as the personalized support provided by our advisors.
It is easy to set up within your organization and you will see results within the first few months following implementation.
HOW FINANCIAL STRESS IMPACTS COMPANIES
%
Canadian workers who spend three work hours or more per week on financial issues¹
%
Canadian workers who are less productive at work due to financial stress²
%
Canadian workers who believe that employers should support their financial wellness³
1. Financial Consumer Agency of Canada. Infographic: Calculating the cost of employee financial stress on productivity – Canada.ca
2. Canadian Payroll Association– NPW 2019 Employee Research Survey. CPA-2019-NPW-Employee.aspx (payroll.ca)
3. Sun Life Financial, “Empowering Employees to Improve Their Financial Wellness” (2017), pp. 9-10.
CHOOSE THE RIGHT GROUP RETIREMENT SAVINGS PLAN
When it’s a question of optimizing a group retirement savings plan, our goal is simple:improve your experience as plan sponsor while upgrading the plan parameters to enable your employees to attain their retirement goals.
The following elements come into play whensetting up a plan:
- Characteristic structure
- Administration fees
- Changes in assets
- Investment options
- Governance
- Industry peer comparison
- Recommendations and action plan
A Group RRSP is a program usually set up by the employer or union in order to make contributions to individual RRSPs. In general, only the individual member can make contributions. A Group RRSP simplifies systematic saving by automatically deducting the RRSP contributions directly from the individual’s pay. Administration is centralized and management fees are minimal.
A corporate Group TFSA gives participants the benefit of a tax-sheltered savings vehicle. Withdrawals are tax free and can be made at any time. The employer can also make contributions up to a set maximum.
This is a contract whereby the employer shares a portion of the company profits with the workers. Only the employer can contribute to a DPSP. The employer also sets the terms for plan membership and for withdrawing the funds accrued on behalf of the workers. This type of plan is often combined with a Group RRSP. Contributions and operating costs are tax deductible.
SPPs are defined contribution plans, i.e. contribution amounts are fixed in advance but the resulting retirement income is not. Each plan member has a locked-in account and a non-locked-in account. The employer contribution is paid into the locked-in account. The employer decides which account the member’s contributions will go into. It is important to note that the locked-in amounts must be used to provide retirement income; consequently, withdrawals are subject to very strict conditions.
An SPP is administered by a financial institution. Each member selects their investments from a range offered by the financial institution. The SPP was designed for SMEs, but may be appropriate for companies of any size.
The amount of contributions to be made to a defined contribution pension plan is set in advance, but the amount of retirement income is not. The retirement income of a DC plan member depends on how much money has accrued in the member’s account. Contributions made for and by each member are therefore recorded separately from those of the other members.
The financial risk of a DC plan is associated with investment performance and is assumed by the plan member.
This type of plan is usually administered by a pension committee, and sometimes by the employer.
DISCOVER OUR GROUP INSURANCE SOLUTIONS
Our proven approach to comprehensive health management necessarily involves a high-performance group insurance plan. Our actuarial analyses will show you several years in advance how the cost of benefits for your plan is going to evolve, and this will enable you to make better decisions.
The following variables are taken into account to implement the best solution;
- Administration fees
- Reserves
- Pooling fees
- Trend factor
- Credibility
- Demography
- Quarterly experience reports
- Renewal projections
- Market trend tracking
- Employee life insurance
- Disability insurance (wage-loss insurance)
- Health insurance (medical care)
- Dental insurance
If an employee or employee’s dependent (spouse or child) dies, a lump sum is paid to the beneficiaries.
Disability insurance is designed to replace a portion of income if an employee is prevented from earning a living due to a disability.
The many causes of disabilities include injury, critical illness or mental health problems. They can be short term or long term.
Offers coverage to supplement government health plans. This benefit provides full or partial reimbursement for many expenses, such as:
- Medications
- Paramedical services (e.g.: chiropractor, physiotherapist, osteopath, etc.)
- Medical supplies and devices (e.g.: crutches, hearing aids, etc.)
- Eye tests
- Emergency out-of-country treatment
Provides full or partial reimbursement for expenses incurred during dental appointments, such as;
- Cleaning
- Check-ups
- Fillings
- Etc.
OTHER SERVICES
Telemedicine
We can integrate virtual health care services with your EAP so as to provide proactive handling of physical and mental health problems.
Employee Assistance Program
We work in conjunction with the programs offered by the selected insurer and enhance the service offering with our various partners to customize and tailor your EAP.
HR Consultant and Business Solutions
Our partner EPSI will revitalize your talent evaluation, engagement and evolution activities.
Workplace Harassment Intervention
Our doctoral fellow in experimental psychology is here to help you take a position when dealing with harassment or interpersonal conflicts.
OUR PARTNERS
LET’S TALK
Connect with us! We’ll provide you with a proposal built around your needs.
QUEBEC CITY
725 Lebourgneuf Blvd., Suite 401
Quebec City, Quebec G2J 0C4
(418) 658-7382
MONTREAL
6400 Auteuil Ave., Suite 300
Brossard, Quebec J45 3PZ
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1 844 893-7376
