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Individual Retirement Plan

By contributing to an Individual Pension Plan, you can maximize your retirement plan and enjoy significant tax benefits.

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The Individual Pension Plan (IPP) is a defined benefit registered pension plan that is generally designed for business owners or senior executives. In either case, you must be at least 45 years old and earn more than $75,000 a year. The main reason? The higher the age and the salary, the higher the contributions made by the company!

A IPP can be personalized according to the needs of each participant and offers many advantages :

  • As with a RRSP, contributions can grow tax-free as long as no withdrawals are made.
  • You can contribute more to a IPP than you can to a RRSP.
  • IPP contributions and administration costs are fully tax deductible for the company.
  • Company contributions are not considered a taxable benefit for the participant.
  • The participant can contribute for years of service prior to the establishment of the IPP, which will increase the potential retirement savings.
  • According to the applicable pension plan legislation, the value of the pension resulting from contributions may be converted into a RRIF or a LIF.
  • Most investment products are IPP eligible.

To learn more, contact one of our advisors.

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