Rick Mamros of Beacon Insurance presents a case study of an individual using a personal pension plan in this webinar
Rick Mamros of Beacon Insurance and JP Laporte present a Personal Pension Plan (PPP®) case study for an incorporated small business owner. JP explains the plan’s three components, where its extra contributions come from compared with an RRSP, and what happens to the plan’s assets when the owners die and their children are plan members.
Recorded in 2020; the case-study figures are an illustration based on that year’s rules.
Raymond Choo from Westminster Private Wealth discusses the PPP with INTEGRIS CEO in this webinar
Raymond Choo from Westminster Private Wealth joins INTEGRIS CEO Jean-Pierre Laporte in this webinar to discuss the Personal Pension Plan and retirement strategies for business owners and incorporated professionals. To learn more, Contact INTEGRIS.
Saving strategically for retirement
The old cliché about the only two certainties in life being death and taxes are almost inevitable in any discussion on pensions. In particular, our prevailing preoccupation with financial security at retirement is rooted in the realization that we are in fact living longer coupled with the uncertainty surrounding the adequacy of our retirement savings in relation to our specific needs at retirement. How does one strategically save adequately for retirement while minimizing the taxes they pay? While actuaries can, using sound actuarial principles and assumptions, make pretty accurate estimates of the amounts needed to fund a comfortable pension, variances in actual realities such as life expectancy and interest rates do exist. This is what makes reaching a comfortable retirement destination challenging. The answer? Careful planning is required to charter a route that effectively marries your retirement expectations with the right savings and tax sheltering strategies to get you to your destination. At issue to consider are: How much is enough savings to satisfy your projected retirement needs? What tax sheltering strategies should you employ in the accumulation stage? How will your pension be taxed on payment? What retirement savings vehicle is best suited to your plan? These are the thoughtful questions that ought to be considered when planning for your retirement. In fact, it is at this juncture that the INTEGRIS Personal Pension Plan (PPP) would be introduced into and benefit this conversation.