How to attract and retain employees
with Kaleido’s Corporate RESP
Employers, add another tool to your belt by enhancing your employee benefits by offering a Registered Education Savings Plan (RESP)!
Whatever your business sector, it’s never been easier to improve working conditions and promote employee well-being.
Why your human resources department should add an RESP as an employee benefit
Recruiting and retaining staff have been a major challenge for human resources in recent years. As a result, making a concrete commitment to the well-being of our employees and their families by offering them benefits aligned with their needs has become a must.
For more than 1 in 4 employees, their children’s education is their top concern1.
With a company RESP, you can help your employees invest in what’s most important to them: their children’s future. In fact, RESPs are a wise investment for financing post-secondary education, thanks in part to the generous government grants offered by this investment vehicle2. It’s an attractive fringe benefit that can help you retain existing staff and attract new recruits.
Interested in adding an RESP as an employee benefit?
Make an appointment with one of our advisors today!
Benefits of an RESP for the company
Attract employees and promote talent retention in a tight labour market.
Demonstrate your commitment to the well-being of your employees and their families, while enhancing your employer brand.
Enhance benefits at no additional cost.
Easily add the RESP as a new employee benefit with a turnkey formula and assistance from Kaleido.
Benefits of a company RESP for employees
Take advantage of generous grants through a savings tool that helps young people reach their full potential (up to $12,800 in grants per child for life2).
Reduce the financial stress of financing your children’s education.
Access Kaleido’s exclusive support services3: an array of resources (videos, webinars, tools, etc.) to support family well-being.
Registering and making contributions is easy thanks to direct payroll deductions.
Setting up a RESP at your company couldn’t be simpler!
Kaleido adapts to your reality and that of your employees, so that the RESP fits right into your corporate culture. The administrative tasks for you as the employer are kept to a minimum, since we manage the education savings plan and work with you to ensure its success:
- simple, no-cost RESP set-up at your company
- dedicated account manager for your company
- information session at your place of work during the launch
- information brochures and leaflets
- self-enrolment and no sales charges for employees
- e-mail templates available
Once your employer account has been activated with Kaleido, you make payroll deductions according to your own payroll schedule. Contributions are transferred to Kaleido on a monthly basis.
You can contribute to your employees’ RESPs if you want to make an even greater contribution to their education savings plans. Your contributions are sent to Kaleido monthly, at the same time as those of your employees. Please note that employer contributions are a taxable benefit and are subject to deductions at source for the Quebec Pension Plan (QPP), Employment Insurance (EI) and Quebec Parental Insurance Plan (QPIP).
Did you know?
According to an Ipsos survey, more than a third of departing employees are looking for better benefits.5.
Discover our RESP offer for companies today and enhance your wide range of employee benefits!
What are the best employee benefits to offer?
In addition to an attractive salary, paid vacations, a good work/life balance and a pleasant working atmosphere, benefits are what your employees care about!
Did you know that workers with a benefits plan feel better about their jobs? In fact, 64% of employees with benefits claim to be satisfied with their jobs.4
Since school and financing their children’s education are of paramount importance to many parents, a company RESP is sure to become a popular employee benefit.
Today, to stay with their current company or join a new one, employees want to have at least the following benefits:5
- dental and medical care
- prescription drug insurance
- paid vacations
- a retirement or pension plan to which the employer contributes (an RRSP, for example)
The RESP stands apart from these more traditional benefits and will boost your human resources retention strategy.
Discover our RESP offer for companies today and enhance your wide range of employee benefits!
Company RESP information request
Want to find out more about company RESPs? Our advisors will be delighted to introduce you to this distinctive benefit and answer any questions you may have.
Fill out the form below, and we’ll get in touch with you.
Legal notes
- Source: 2015 Mercer survey of 1,000 Canadian and 3,000 American employees.
- Canada Education Savings Grant (CESG) from 20% to 40% and Quebec Education Savings Incentive (QESI), offered in Quebec only, from 10% to 20%. Based on adjusted family net income. The maximum annual CESG payment is $600, and the maximum annual QESI payment is $300. The lifetime maximum per beneficiary is $7,200 for CESGs and $3,600 for QESIs. Canada Learning Bond (CLB) of up to $2,000 per beneficiary, for a child born after December 31, 2003, to an eligible family, subject to grant application approvals. Certain conditions apply. See our prospectus at kaleido.ca.
- Certain conditions and limitations apply. The promotions, benefits and other advantages of the family accompanying services are subject to change without prior notice and may not be available in certain areas.
- Source: Ipsos survey of 1,001 Canadian workers, conducted for RBC Insurance from April 22 to 25, 2022.
- Source: Ipsos survey of 1,000 Canadian workers, conducted for RBC Insurance from April 14 to 25, 2022.