Why wait? Avoid the ‘cost of delay’ in retirement savings


Link’s workplace retirement wellness plans benefit employees and employers alike

Cost of delay.
It’s a key project management term that combines urgency and value—and it also carries tremendous relevance in the world of retirement savings.
Industry surveys consistently tell us how much we are losing by delaying our retirement savings. Just last month, a Nationwide report said those who start saving for retirement at 31, rather than 23, are missing out on $200,000 a year.
The cost of waiting is either a smaller retirement portfolio, more onerous contributions later in life, or both. Even a three-year delay is calculated to be a $140,000-a-year mistake.
It doesn’t have to be that way, though. Link Investment Management is a growing innovator in the workplace financial wellness space, with innovative, cloud-based benefit plans for small and midsized businesses.
Our financial wellness benefit plans can benefit both employees and employers by allowing them to take advantage now—and avoid that cost of delay.


A better retirement outcome

Traditional workplace wellness plans can be problematic for employees, who are simply unequipped to make retirement investment decisions. Traditional investment options can also be unsuitable for an employee’s risk profile, investment objectives or life situation.
Ultimately, this can result in low participation—not helpful from the cost-of-delay angle.
Link’s workplace financial wellness plans, whether it’s our Alberta Link Pension Plan (ALPP), group RRSPs or group TFSAs, offer fast and easy onboarding, and are dialed in to an employee’s risk objectives and time horizon.
And with our automated portfolio management platform, that means appropriate investment and asset allocation, plan monitoring and rebalancing by Link’s team of experienced portfolio managers.
Ultimately, a better retirement outcome.


Removing the employer burden

From an employer standpoint, traditional workplace financial wellness plans can be complex to establish, administer and maintain, with respect to regulatory compliance.
Link’s financial wellness programs remove that employer burden in a variety of ways:
  • We assume all administrative, compliance and recordkeeping requirements;
  • We offer lower fees and administration overhead, as well as full fee transparency; and
  • We provide considerable tax benefits for employers.


Immediate and long-lasting benefits

Elimination of employer admin costs? Check.
Low-cost, personally tailored retirement portfolios for your workforce? Check.
Where the “cost-of-delay” argument is concerned, Link’s offerings mean there really is no reason to delay.
Contact us today to learn more about Link’s workplace retirement plan options—which provide immediate benefits for employers, and long-lasting benefits for employees.
SHARE:
Financial Wellness Benefit Plans

Create a culture of caring