Plan for retirement today to have peace of mind tomorrow
The Individual Pension Plan (IPP) allows incorporated professionals and small business owners to have a traditional defined benefit pension. Your corporation makes tax deductible contributions which are larger than the RRSP limits.
An IPP is ideal if you are:
- Age 40+
- Making the maximum contributions to your RRSP
- Have stable income that is unlikely to be interrupted
The Personal Pension Plan (PPP) is a variation of the IPP that allows companies with unstable income to switch to RRSP-like contributions in lean years.