Article DownloadWe are extremely pleased to announce that the Federal Ministry of Finance has revised the decision to reduce IPP past-service benefits in the manner initially proposed, as part of the June 2011 Federal Budget.
These changes serve to restore many of the past-service benefits that make the IPP an attractive solution for business owners and professionals seeking greater certainty and savings at retirement. This decision more appropriately reflects the reality for many business owners facing retirement and we anticipate only a small number of plans will ultimately be impacted. GBL, alongside other actuaries and organizations such as the Canadian Federation for Independent Business (CFIB) and CALU, consulted with the Federal Ministry of Finance and GBL is pleased with this result.
To learn more about these changes in-depth, click here to download the bulletin.
