Let's Start A Conversation
Stonebrooke Private Wealth Management Logo

Is an IPP part of your retirement income strategy?

Create Your Own Pension Plan

One of Canada’s largest pension funds, the Healthcare of Ontario Pension Plan (HOOPP), recently released a study of how Canadians are feeling about their retirement income prospects.

Fascinatingly, concern about having enough money in retirement (75%) is on a par with present day cost of living (82%) and outweighs concerns about mental health (59%), current personal debt (55%), and government debt (64%).

The preference for the vast majority of Canadians is to have a pension for retirement income. The response to several trade-offs makes it clear: 8 out of every 10 Canadians would rather:

  • Have a better (or any) pension plan over a higher salary.
  • Have employers make direct contributions to a retirement plan instead of providing that money as salary.
  • Have a pension that pays out an amount based on what they earned while working instead of one based on market performance

As an incorporated business owner, you can have your own, company sponsored, pension plan.

Contact us to find out more about how an Individual Pension Plan can help you secure your retirement income needs.

Let’s start a conversation.

Written by Jim Pelot, B.Comm, CPA, CA; CFO and Co-founder of p|w|m Advisory Group.

This article is provided for information purposes only. Although the content is believed to be reliable when posted, p|w|m Advisory Group cannot guarantee this information is current, accurate or complete and does not assume any liability. The information is not intended to provide any insurance, financial, legal, accounting or taxation advice and should not under any circumstances be relied upon without consultation about your specific situation. The information is subject to modification and updating from time to time without notice. 

© Stonebrooke Private Wealth Management | Website By MediaSuite Inc.