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:
“It is a strange fact that freedom and equality, the two basic ideas of democracy, are to some extent contradictory. Logically considered, freedom and equality are mutually exclusive, just as society and the individual are mutually exclusive.”
—Thomas Mann (1875–1955)
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—Charles Dickens (1812–1870)
“Who is the happy Warrior? Who is he
That every man in arms should wish to be?
It is the generous spirit, who, when brought
Among the tasks of real life, hath wrought
Upon the plan that pleased his boyish thought:
Whose high endeavors are an inward light
That makes the path before him always bright:
Who, with a natural instinct to discern
What knowledge can perform, is diligent to learn;
And in himself posses his own desire;”
—William Wordsworth (1770–1850)