If you have been envious of robust private sector pension plans (like government/teacher’s pensions and others like HOOPP) and didn’t think that you could have one, think again. Enter the Personal Pension Plan (PPP®)!
What are the Advantages of PPPs?
The Personal Pension Plan™ (PPP®) is a wealth accumulation and tax savings solution specifically designed for incorporated professionals and business owners to accumulate significantly more in retirement savings and pay less tax.
The PPP® is the most effective tax-savings solution permitted by Canadian tax legislation and generates the highest levels of wealth in Canada eclipsing all other savings vehicles such as TFSAs, RESPs, RRSP, and IPPs.
Tax Savings Benefits of PPPs®
Some examples of tax deductions inside a PPP® that you cannot find inside an RRSP are:
- Greater deductions ranging from $1,896 at age 40 to $18,481 per year by age 64 and beyond
- Investment management fees paid on any asset inside the PPP® are tax-deductible
- Annual administration and actuarial fees are tax-deductible
- Terminal funding to enhance the basic pension at retirement (up to $2,000,000 deduction)
- Special Payments (also tax-deductible) if the pension plan’s assets don’t return 7.5%
Paul offers Personal Pension Plans with Integris Pension Management and offered through Desjardins Insurance.