At CPA4IT, we’d like to throw you a Life Ring. If you earn $45,000 or more you qualify for your own Personal Pension Plan®. Listen up! We’re going to repeat that again. IF YOU EARN $45,000 or MORE you are eligible to own your own Personal Pension Plan®.
That means, you’re in the same league as “The Teachers’ Pension Plan”, OMERS (The Ont. Municipal Employees Retirement System), HOOP (the Healthcare of Ont. Pension Plan), Hydro One Pension Fund etc.
I’m sure you’re getting the idea.
This is a big deal for you!
- Your company gets to save a significant amount of taxes as your corporation deducts all the pension contributions
- You will be able to save up to 65% more than you do now in your RRSP
- All the fees involved in set up, all the fees (MER’s Management Expense Ratio) you usually pay to manage investments, and even 1/3rd of the HST on these fees are also deductible to your company
- The Personal Pension Plan® is way more flexible than its predecessor the IPP for those of you who’ve heard of that. The PPP® has three accounts in one plan, which allows you to start as early as age 18, receive more tax savings, save more money for retirement and ultimately receive a larger pension income when you’re ready for retirement, (which by the way can be as early as age 50)
- And, did we mention it’s available as a Family Plan Pension? So, if your spouse or children work in your business your Life Ring can become a Cabin Cruiser
If this is something you’d like to explore further, reach for that Life Ring. It won’t cost you anything to run your numbers. Let’s see if we can save you and your IT business some serious money!
The Personal Pension Plan® benefits and its flexibility run deep. There are too many for this article, but we want to bring it to the attention of all IT Consultants.
There is a pension plan out there that you are eligible to tap into. That’s a LIFE RING that we believe is worth grabbing onto. We know, you know how thankful and relieved your clients are when you’re there to save their day… and save them lots of money.
Look at this as reciprocation albeit from the CPA4IT firm and INTEGRIS Pension Management who soundly believe “it’s about time”!
Dawnyca Cristello, CFP
On behalf of CPA4IT Professional Corp.
And in collaboration with INTEGRIS Pension Management Inc.