Individual Pensions Plans (IPPs)
Retirement planning for business owners & incorporated professionals
RRSP contribution limits make it hard for above-average income earners to save tax-efficiently for retirement. An Individual Pension Plan (IPP) can be an effective strategy that helps you maximize your retirement funding and reduce business taxes.
An IPP is an employer-sponsored registered pension plan set up for an individual and designed to provide maximum retirement benefits and tax-sheltered contributions. IPPs are ideal for:
- Business owners, incorporated professionals, or key employees such as senior executives.
- Individuals with T4 income of $141,000 or more.
- Individuals between the ages of 40 and 71.
If you would like to learn more about the benefits of IPPs, including enhanced tax-sheltered growth, creditor-protected savings and tax-deductible contributions for your business, contact us today.