Caisses Desjardins du Québec and Caisses populaires de l'Ontario [Change site]
Individual Pension Plan
A defined benefit pension plan for one person.
An attractive option for business owners and senior managers, whose incomes require a greater income tax deferment strategy.
Features
- The benefit payable at retirement is determined in advance.
- Allows you to make higher contributions than if you contributed to an RRSP.
Choose one of three strategies:
- Each year, contribute higher amounts than an RRSP.
- Once the plan is in place, contribute for past years of service.
- At retirement, contribute additional amounts available upon retirement to maximize the plan.
Eligibility
- Participants must be 45 years of age or older.
- Annual T4 income must be $75,000 or more from an incorporated company taxable under the Income Tax Act.
- Years of past service are required for participants to be eligible for contributions.
