An Individual Pension Plan (IPP) provides the platform for individuals to maximize the accumulation of registered retirement assets and employers to take advantage of substantial corporate deductions. Our executive pension experts have helped thousands of employers, business owners, incorporated professionals, and key executives prepare for a successful retirement.

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Individual Pension Plans are the most tax effective registered retirement arrangement permissible under tax legislation.

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Ideally suited for business owners, incorporated professionals, and highly compensated employees, Individual Pension Plans (IPPs) allow for the tax-sheltering and accumulation of more registered assets through higher employer contributions than any other retirement vehicle available.
Not only do IPPs generate fiscally sound retirement savings and income, they provide significant tax advantages for employers making contributions. In addition, unlike a Registered Retirement Savings Plan (RRSP), the contribution room available increases with age: the older the member, the higher the contribution room. This means that more company capital can be contributed tax-deductible and more funds being saved for retirement.

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Key Advantages

• Higher contribution room than RRSP and increases with age 

• Sizable contribution opportunity for past service years upon implementation 

• Tax-deductible employer contributions and administration expenses

• Additional funding room available to replenish shortfalls 

• Additional tax-deductible contributions can be made available at retirement

• Income splitting at age 50 and Spouse’s survivor pension included

• Estate and succession planning opportunities 

• Customizable tax sheltering strategies

• Post-retirement cost of living adjustment factored in

• Better creditor proofing

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Am I An IPP Candidate?

An IPP is typically feasible and certainly worth considering for business owners, incorporated professionals, key executives and key employees that are highly compensated.

Some additional questions for all individuals to consider include:

• Is the Employee at least age 40?

• Does a bona-fide Employer-Employee relationship exist?

• Does the Employee receive T4 income?

• Does the Employee want registered retirement savings that exceed RRSP and other registered plan limits?

• Does the Employer want larger deductions than an RRSP can provide?

 

We would be happy to discuss the suitability of an IPP for your corporate and retirement needs.