This is too good to be true...why hasn't anyone come up with this before?

First, it is important to note that the rules applicable to the INTEGRIS Plan have been around since 1991. Secondly, in Canada about 15,000 professionals and business owners currently have a plan that works along the lines of the INTEGRIS Plan. So, in effect, someone has come up with this tax-savings solution already.

The reason why INTEGRIS-like solutions are not well publicized rests in part on the complexity of pension regulation. Few people, outside of actuaries and pension lawyers, truly understand all of the intricacies of registered pension plans. Therefore, when faced with the choice between selling a simple RRSP with an upfront commission, or a complex pension plan where fees have to be earned over time, the path to follow is clear.

While pension plans offer much better tax-deferral opportunities than RRSPs, they come with a heavier regulatory burden. No one truly wants the administration headaches especially when greater profits can be achieved without taking those on. This explains why the marketing of financial institutions is aimed at RRSPs. After all, banks, insurance companies and mutual fund companies are in the business of making profits for their shareholders, not necessarily of putting your best interest first. Thus, the rules and the product has been around for over two decades, but the will to upset the way clients' interests are handled takes time.

At INTEGRIS, we make money on ensuring that your best interests are protected. It is a niche market that we want to expand.