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:
“The trouble with the sacred Individual is that he has no significance, except as he can acquire it from others, from the social whole.”
—Bernard Devoto (1897–1955)
“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)
“I began revolution with 82 men. If I had [to] do it again, I do it with 10 or 15 and absolute faith. It does not matter how small you are if you have faith and plan of action.”
—Fidel Castro (b. 1926)