Individual Pension Plans

An Individual Pension Plan (IPP) is a registered, defined-benefit pension plan typically set up for just one member — you. It can let you build your retirement income under a tax-sheltering umbrella and get the maximum pension that Canadian tax law allows.

If you’re a business owner or an executive, an IPP can create additional contribution room over and above an RRSP, once you reach a certain age. If you own your business, an IPP can save even more tax, because the IPP contributions your business makes, plus any administrative costs, are tax-deductible.

An IPP could be a good option for you if:

  • You are 45 or older
  • You don’t belong to another pension plan
  • You’ve been with your employer or owned your business for 10 or more years
  • The earnings on your T4 are $75,000 or more

We can help you determine if an IPP is right for you and then work with you to set up and manage the plan to help you meet your tax management retirement objectives.