An IPP is specifically designed for a business owner of an incorporated company, an incorporated professional or executive, age 40 and over, earning $100,000+. That said, an IPP can be established for someone with lower earnings.
An IPP is NOT well suited for:
An IPP is similar to an RRSP in that it uses an investment account to accumulate assets over time as retirement benefits. However, unlike the RRSP, an IPP allows for the accumulation of greater assets – up to 65% more than an RRSP, and like a traditional pension plan, sets your monthly income at retirement. An IPP also provides certain additional guarantees beyond an RRSP to further protect your financial future. Assets accumulated within an IPP are locked-in and may be used only for retirement purposes
Reviewing the IPP forms and documents received from you was wonderful, everything was so well organized and prepared with so much diligence and I really appreciate that!Supervisor, Administration Support
Raymond James Financial