Everyone’s retirement needs are different. To work this out, start by thinking about how much will I need for retirement, do I have enough saved for retirement, what sort of lifestyle you will want.
Your retirement income will probably come from a different source. You may be eligible for CPP/QPP and OAS or other government benefits. What you’ll need is to turn your savings into a retirement income stream to help meet your financial needs throughout retirement.
We’re living longer these days. On average, 80% of 65-year-old men can now expect to live until they’re 90, and 65-year-old women until they’re 94. With a range of products and features to offer, we can help you choose the right retirement plan that best fit your needs.
Individual Pension Plans (IPPs)
An individual Pension plan (IPP) is primarily designed for high-income company owners as well as for self-employed individuals whose annual income is generally over $100,000.
An IPP enables you to obtain the maximum tax advantages from a pension plan. An IPP is often set up once a company has generated significant earnings and wants to avoid paying too much tax.
For companies, an IPP is an effective way of recruiting and retaining key employees, while saving for retirement and cutting their company tax bill.
Advantages for plan members
- The plan is funded directly by the company (Tax Advantage for company/reducing company earnings)
- Assets grow tax-free up to retirement.
- Allows more money to be saved for retirement than an RRSP.
- Recognizes years of past service, increasing the retirement pension.
- Assets in an IPP are exempt from seizure by creditors.
Our investment options
When you select our IPP, you have access to a full range of investment options, including Gic’s and investment funds. On the one hand, guaranteed investments, offered for 1 to 10 year terms, are designed for investors who are primarily seeking stable returns and capital protection at maturity.
On the other hand, investment funds offer a wide range of risk levels and return perspectives. In fact, our line of over 50 funds allows investors to maximize the diversification of their assets, both in terms of asset categories and investment approaches.