Individual Pension Plan (IPP)

The Individual Pension Plan is a registered retirement plan much along the same lines as a Supplemental Pension Plan (SPP) – except that the plan is established for one person only. That person must be an owner or top executive of a company. For these investors, often the maximum ceiling fixed for RRSP contributions isn’t high enough for them to be able to attain their retirement savings goals.

The IPP is therefore ideal for individuals over age 42 with an annual salary of $75,000 or more paid by their company. If an individual meets these minimum requirements and upward, an individual can accumulate more savings in an IPP than in an RRSP.

The IPP is also the perfect financial vehicle to allow a company to contribute to a participant’s retirement while at the same time taking advantage of very interesting tax deductions. Another great feature of the IPP is that it provides a guaranteed minimum return rate

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