Retirement Compensation Arrangements

A Retirement Compensation Arrangement (RCA) is a non-registered arrangement set up by an employer to provide benefits to an employee or group of key employees upon retirement, termination or change in service.

In the role of trustee, we provide custody of the assets, receive contributions and make payments to members. We attend to annual tax filings and withhold tax on payments made. In doing so, we save the employer time and provide security for the employee by ensuring their plan is properly maintained.

Our team of tax specialists are trained in the complex areas of retirement compensation arrangement taxation. In addition to preparing and filing the trust returns for the employer, our tax specialists can provide guidance and relieve the burden of dealing with Canada Revenue Agency.

Escrow Services

An Escrow arrangement involves a situation where two or more parties agree that specified property is to be held by a third party, typically referred to as the “Escrow Agent”, until certain conditions are satisfied. The property that is held in escrow may include monies, insurance policies, securities, powers of attorney, licenses, or software.

We can act as an Escrow Agent for individuals or corporations who require an escrow arrangement. The benefits of choosing us as your Escrow Agent include:

• impartiality and objectivity
• continued existence
• custody services
• established processes and internal systems
• alleviation of administrative burdens
• experienced escrow officers
• investment services
• tax information

Bare Trustee Services

Under the provisions of the Income Tax Act, only certain entities can act as a trustee for registered plans. These include depositories, insurance companies and Canadian trust companies. As a trust company we are authorized to issue registered plans, including registered retirement savings plans (RRSPs), group RRSPs, registered retirement income funds (RRIFs), registered education savings plans (RESPs) and locked-in plans.

Under a bare trustee arrangement, an organization appoints us as trustee for their registered products. In turn, the trustee appoints the organization as its agent through the signing of an agency agreement, which delegates certain administrative duties to them.

We provide organizations with the legal framework, expert guidance and support needed to establish and administer registered plans. Our registered plan specialists have extensive experience in the financial services industry, particularly in the setup and administration of registered plans relationships.