In a recent decision by B2B Trustco, a division of B2B Bank
and a wholly-owned subsidiary of Laurentian Bank of Canada, they are getting
out of the IPP business Effective May 1st. They are citing
reasons of increased complexity and are unable to keep up with regulatory
requirements. This is forcing all IPP clients with B2B Bank/B2B Trustco
to find a new home. IPPs offer business owners an incredible opportunity
no other Canadians have available to them, allowing them to save significantly
more for their retirement while taking tax advantaged dollars out of the
business as an expense. If you find yourself with a B2B Trustco IPP and
need to find a new home we would be happy to help, and can offer you lower IPP
administration fees, lower Investment Management Fees (IMFs/MERs) and better
investment options with a track record of great returns.
Contact us today
as the May 1st deadline is approaching quickly. Office: (416) 855-9892 or Email us at info@c2inc.com
If you don’t have an IPP, here is a list of some
reasons you should consider an Individual Pension Plan:
- Further tax sheltering in excess of RRSP contributions
- Additional tax deductible lump sum contribution at retirement on sale of assets of the company or sale of the company itself
- Full creditor protection
- Pre-planned retirement income
- Succession planning within a family business
- No payroll tax levied on IPP contributions (depends on province)
- All costs associated with the pension plan are tax deductible to the company – including IMFs (Investment Management Fees)
- Prescribed rate of return within the IPP by Pension Legislation, ensuring your retirement portfolio is always growing as it should
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