•To
maintain the same standard of living after retirement
•Contributions
made to a pension plan are tax deductible.
•Employer
contributions do not result in any payroll taxes because they are not included
in the calculation to determine contributions to other programs, such as
employment insurance,
•Investment
income generated by the pension fund in which contributions accumulate are tax
exempt.
•The
employer contributions are vested to the plan member as soon as his or her
membership begins.
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