Individual Pension Plans
If you are an independent business owner over the age of 40, you may have a more attractive retirement savings option than a traditional RRSP. Individual Pension Plans (IPPs) are rapidly becoming the retirement savings vehicle of choice for individuals with an incorporated operating business because of their superior tax advantages over RRSPs.
An IPP is a registered business plan that a business owner can set up through his or her company. It allows you to make larger tax deductible contributions than is allowable under an RRSP. This can result in potentially hundreds of thousands of dollars in tax deferral depending on the number of years your business has been incorporated.
Newport Partners has unique expertise in helping entrepreneurs set up and manage their IPP. To find out if an IPP is right for you, visit our website www.IPPExperts.com.
