An Individual Pension Plan or IPP is a Canadian retirement savings vehicle. An IPP is a one-person maximum Defined Benefit Pension Plan (DB Plan) which allows the plan member to accrue retirement income on a tax-deferred basis. As such, an IPP must conform to the Canadian Income Tax Act (ITA) and regulations (ITR) as well as the requirements of the Canada Revenue Agency (CRA) with respect to defined benefit pension plans.
Read more about Individual Pension Plan: IPP Rules and Regulations
Famous quotes containing the words individual, pension and/or plan:
“Gossip, then, is content, a message about people; rumor is a process. It takes a bit of gossip and reshapes it, modifies it in some way, and passes it along from individual to individual in different ways.”
—Jack Levin (b. 1941)
“It is a sort of ranger service. Arnold’s expedition is a daily experience with these settlers. They can prove that they were out at almost any time; and I think that all the first generation of them deserve a pension more than any that went to the Mexican war.”
—Henry David Thoreau (1817–1862)
“We saw the machinery where murderers are now executed. Seven have been executed. The plan is better than the old one. It is quietly done. Only a few, at the most about thirty or forty, can witness [an execution]. It excites nobody outside of the list permitted to attend. I think the time for capital punishment has passed. I would abolish it. But while it lasts this is the best mode.”
—Rutherford Birchard Hayes (1822–1893)