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Why SERPs are Increasingly Popular and Rectify Limits to Standard Executive Compensation Plans
SERPs offer companies the opportunity to attract and retain top talent by addressing the limits to standard executive retirement plans Laura Davis January 30th, 2025 Many corporate executives today are enrolled in executive retirement plans that fail to provide them sufficient retirement income based on their earnings due to limits within their standard retirement plans. […]
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All Roads Lead to GBL: Welcoming Back a Familiar Face
GBL is thrilled to welcome back Ryan Ackers, a familiar face to many. Ryan dove into the actuarial world in 2015, joining GBL at a time when he possessed little to no understanding of IPPs, RCAs, FMVs, or jokes from actuaries – though he always showed a solid poker face and laughed accordingly. Ryan was […]
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2024 Charitable Donation Deadline Extension: A Potential Opportunity for Donors
Business Owners, Charitable Giving, News
The federal government recently announced an extension to the 2024 charitable donation deadline, allowing donations made up to February 28, 2025, to be claimed on 2024 tax returns. This move aims to address delays caused by the Canada Post strike, providing charities and donors extra time to process contributions. While this measure was welcomed by […]
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Defined Benefit Plans not all Created Equal: The HOOPP Plan vs an Individual Pension Plan (IPP)
Last updated: January 14, 2025 Introduction Defined Benefit Pension Plans (#DB plans) are considered the gold standard for employee #retirement plans. They provide the member with the knowledge that they will receive a known, guaranteed income stream in retirement that may increase with inflation, without the risk of market fluctuations or longevity. For employers, these […]
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Cheers To An Amazing 30 Years
In Scottish culture, the New Year, or Hogmanay as the Scottish call it, brings a sense of renewal and reflection. Growing from its Scottish origins while enjoying an incredible journey along the way, GBL is thrilled to celebrate its 30th anniversary in 2025. Since our founding in 1995, we have serviced over 7000 clients and […]
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A Heartfelt Thank You From GBL Heading Into 2025
December 17th, 2024 As 2024 comes to a close, the team at GBL would like to thank you all for an outstanding year; one which would not have been possible without your trust and support. We hope that those reading enjoyed a successful 2024, despite the challenges that it presented for many. 2024 was a […]
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The Provincial Landscape of IPPs – As of November 2024
In years past, many business owners and incorporated professionals have been advised to shy away from Individual Pension Plans due to legislative requirements that were deemed overly burdensome and restrictive with regards to funding. Over the years, the legislative landscape has improved significantly, making Individual Pension Plans a more flexible and adoptable strategy for retirement […]
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Fall Season is IPP Season
October 2024 As we get near the end of October, we see the fall colours on the trees. In many places, leaves are falling, and in some the snow has started to fall. It is also the season when many business owners and incorporated professionals are sitting down with their tax professionals to finalize their […]
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Succession Planning with Individual Pension Plans and Personal Pension Plans (an IPP with a Different Name)
Individual Pension Plans (IPPs) have a unique feature for family businesses and family planning unlike RRSPs. This feature is equally shared with IPPs that are marketed using alternative names such as the Personal Pension Plan, Family Pension Plan, and Canadian Physicians’ Pension Plan. If the next generation are employees of the corporation and there is […]
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Retirement Compensation Arrangements: Optimizing After-Tax Income for Professional Hockey Players
Taxes are said to be one of the things that are certain in life, and professional hockey players sure do pay a lot of them. As we Canadians reel from the pain of another year of the cup not coming back home, we tip our hats to the tenacious spirit of the Edmonton Oilers. The […]
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