Professionals, executives, business owners can benefit
The defined benefit pension plan has pretty much gone the way of the dodo. With one exception: the Individual Pension Plan (IPP). If you’re a business owner or executive, or an incorporated professional, such as a physician, dentist, lawyer, accountant, and so on, and you are over age 40 in your peak earning years, you might consider an IPP. Its many advantages for people in this group certainly outweigh its drawbacks. And as tighter rules for passive investments in private corporations have limited the availability of the small business tax rate, an IPP offers some business tax advantages as well.
Ideal for professionals, executives, business owners
Looking for ways to enhance your retirement savings beyond a Registered Retirement Savings Plan (RRSP)? If you don’t already have a pension plan through your employer, and you’re a business owner or executive, or an incorporated professional (physician, dentist, lawyer, accountant, and so on), you might consider the benefits of setting up an Individual Pension Plan (IPP). In this era of financial uncertainty, with many businesses increasingly unable to fulfill their group pension funding obligations, and with defined benefit pension plans going the way of the dodo, an IPP can make a lot of sense. READ MORE
Individual pension plans ideal for professionals, executives, business owners
If you’re a high-bracket professional, executive, or businessperson, and you’ve maxed out your RRSP, you may be surprised to learn that there are other tax-efficient retirement plans available that let you enhance your retirement saving. One of the best is the Individual Pension Plans (IPP), which is in fact an excellent way to increase your retirement nest-egg, while having your company make large tax-deductible contributions. READ MORE