IPP

Individual Pension Plans: an RRSP alternative to help secure your financial future

Many entrepreneurs and professionals often neglect making their RRSP contributions because they are solely focused on building their business or else find that RRSP limits are insufficient to provide an adequate retirement income. If you are 45 years or older, a business owner or manager, or an incorporated professional with an annual income over $100,000, an Individual Pension Plan (IPP) is something you might want to consider.

An IPP is similar to an RRSP in that money accumulates over time, tax sheltered, in an account to provide you with retirement benefits. In addition, IPPs have the ability for larger tax deductible contributions than RRSPs, allow the option to contribute large deductible amounts for past service with your company and can be safe from creditors. Therefore, an IPP can be an ideal option, in the right circumstances, for your retirement and estate plan.

Read more about Individual Pension Plans, or contact us to discuss you needs.