Retaining Senior Management
Executive benefit plans are a major part of attracting and recruiting senior executives.
Senior management is frequently under-insured in core benefits like life and disability coverage. Income replacement in the event of an illness or injury can be a fraction of a senior person’s annual compensation.
High wage discrimination continues in the area of retirement benefits. Team members earning in excess of $150,000 reach the maximum contribution threshold for registered plans, making it harder to save for retirement–especially in light of recent changes to tax rules for passive income and employee share purchase plans.
Employees who regularly travel and work outside of Canada relying on standard out-of-country emergency medical coverage is another area of concern. Depending on the country and length of stay or frequency of travel, specialized coverage may be needed.
Whether your company is large or small, your senior executives are at the core of your value, culture and future. At Montridge, we are experienced in developing tax-efficient executive benefits strategies designed to address some of the structural challenges faced by high-income earners. We understand the myriad factors that must be considered to protect your company, and we maintain a network of insurance, legal and tax partners to assist our clients in rewarding the best while insuring against every eventuality.
“We have been a Montridge client for 10 years and have always felt that we have received excellent value. Montridge associate Preet Pall has provided tremendous service by ensuring that we thoroughly understand the services we are paying for and seeking the best value on our behalf. Montridge also hosts interesting and relevant breakfast seminars from leading professionals in their field. The seminars are free of charge and have proven to be directly applicable to managing HR issues within our company. In addition, Montridge publishes a newsletter, provides HR template letters and employee seminars. We have been pleased with the Montridge team and always received great support from them on varying topics. Montridge has facilitated great HR practices at our company.”
Chris Mulder, P.Eng., President
Capilano Maritime Design Ltd.
Talk to a Montridge Advisor to learn how to craft an executive benefits plan that will protect the most valuable asset in your company, your people.