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Financial Planning
Individual Pension Plan

Individual Pension Plan

Turbo-Charge Your Retirement Savings

An Individual Pension Plan (IPP) may be able to provide higher pension benefits for small business owners who meet specific criteria. With an IPP, there is the potential to save more funds for retirement because of higher contribution limits than RRSPs.

An IPP is an employer-sponsored, defined benefit pension plan that can be set up by and for a single person. This means that an actuary determines the level of contributions that the employer must make to ensure a stable pension income stream for the employee. Similar to an RRSP, contributions accumulate and compound within the plan sheltered from taxes. At retirement, taxes are payable on amounts withdrawn. It's important to note that funds invested in an IPP cannot be withdrawn until retirement or plan termination.

Design Your Own Individual Pension Plan

IPPs are best suited for individuals over 45 years of age and earning over $100,000 per year. You should currently be contributing the maximum allowable to your RRSP and have an employer that is willing to set up, administer and fund the IPP.

CIBC Wood Gundy provides custodial services for your IPP and has partnered with Buck Consultants Limited, an ACS company to provide the actuarial, tax reporting and administrative services. Buck Consultants has more than 90 years of actuarial experience and a reputation for superior client service. You can feel confident you'll enjoy comprehensive services that address all your IPP needs.

To suit your investment needs, the CIBC Wood Gundy IPP solution offers diversification among asset classes, investment managers and investment styles.

Unlike RRSPs, investments within your IPP must comply with applicable pension legislation investment guidelines. An IPP strategy should be considered within the context of a comprehensive financial and estate plan.

Get To Know Us

Your CIBC Wood Gundy Investment Advisor is your connection to retirement strategies that are designed to meet your unique needs. Use our Find An Advisor tool to locate a CIBC Wood Gundy Investment Advisor near you.

The information contained herein is considered accurate at the time of posting. CIBC and CIBC World Markets Inc. reserve the right to change any of it without prior notice. It is for general information purposes only.

Clients are advised to seek advice regarding their particular circumstances from their personal tax advisors.

Given the complexities involved, specialized tax and pension advice must be sought to ensure an IPP is appropriate to individual situations. Also, an IPP strategy must be considered within the context of a comprehensive financial and estate plan.

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