• We help business owners, households, retirees and students reach their financial goals through expert investment and insurance planning.

  • We help business owners, households, retirees and students reach their financial goals through expert investment and insurance planning.

  • We help business owners, households, retirees and students reach their financial goals through expert investment and insurance planning.

Retirement Savings Planning for Business Owners

Retirement Savings Planning for Business Owners

In addition to traditional retirement savings programs (including Registered Retirements Savings Plans, or RRSPs), business owners and other highly-paid employees have the option to save for retirement by way of an Individual Pension Plan (IPP).  An IPP is a one-person maximum Defined Benefit Pension Plan that allows a business owner to accrue retirement income on a tax-deferred basis – an amount that exceeds what is available within traditional RRSP limits.  It also allows a business to create a tax-deductible expense when moving funds into the personal control of the business owner without immediate taxation.

Another retirement savings option is a Retirement Compensation Arrangement (RCA).  Similar to an IPP, an RCA funds a business owner’s (or other key person’s) retirement but it is funded using various investments and insurance products.

If an IPP or RCA is an appropriate retirement savings option for you, your Wiegers Financial & Benefits advisor will provide you a recommendation and assist you in implementing the plan accordingly.

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