Corporate Pension & Insurance

Corporate Pension & Insurance

After spending years working hard to build your business, you deserve the kind of retirement that rewards your success.

Your company can actually help provide you with greater stability and freedom in retirement with corporate pension and retirement income strategies that are tax -efficient and optimized to enhance your corporate investments and income goals.

If you’re a high net worth business owner or incorporated professional, talk to the award-winning team at Access Private Wealth. We help professionals just like you across Ontario with tax-efficient strategies that help plan for your future and put more money back into your business today.

Individual Pension Plans (IPP)

Having an IPP allows you to use corporate funds to make tax-deductible contributions towards your retirement. Contribution levels and tax-sheltered growth are much higher than with other registered investment options, such as an RRSP.

Set up your IPP using any combination of these three accounts:

  • Defined Benefit (DB): Pre-defined benefits based on your age, income and years of service
  • Defined Contribution (DC): Ideal for business owners under age 40, this component operates like an RRSP with a mandatory annual contribution of 1% of earned income
  • Additional Voluntary Contributions Sub-account: A tax-free shelter for your current RRSP assets

Corporate Insured Retirement Plan (CIRP)

A CIRP can compliment your overall corporate and personal wealth by adding a unique form of diversification.  Guaranteed positive returns and totally protected from erosion due to taxation and/or poor market conditions. Attractive and stable historical performance with the added benefit of Captial Dividend Account maximization for estate planning considerations.

In this concept the cash flow is unaffected by market changes.  The underlying assets remain fully invested while the high collateral capacity can be used for income generation. 

Retirement Compensation Agreement (RCA)

Holding an RCA is another tax-efficient way for your company to contribute towards your retirement. Contributions to an RCA are 100% tax-deductible and, like and RRSP, tax isn’t payable until you start receiving benefits upon retirement.

When your company makes an RCA contribution, 50% is deposited in an investment account, and the other 50% is deposited in a non-interest bearing, refundable tax account with the Canada Revenue Agency (CRA). This contribution arrangement also applies to interest income, dividends, and realized capital gains earned in the investment account. At retirement, the CRA refunds $1 from the refundable account for every $2 you collect in benefits.

RCAs are popular among high income earning business owners and executives who want to reduce their current tax burden and save more than the RRSP contribution rules allow for retirement. Ask our financial experts if an RCA would work for you.

Personal Insurance Needs

Everyone should have some sort of life insurance, especially high net worth professionals who can use tax-efficient life insurance plans to supplement their retirement income.

Our financial experts can help set you up with insurance plans that go beyond providing coverage for unforeseen and tragic events, giving you added security during your retirement years.

Life Insurance

Select from one or a combination of two or three life insurance policies to provide you with the best coverage possible:

  • Term Life: The most affordable policy, set for a specific term or for a temporary need
  • Whole Life: Builds cash over time, which can be used to purchase more insurance when additional coverage is needed over the years
  • Universal Life: Provides permanent protection with tax-advantaged investment growth within the policy

We can also help preserve and increase your estate’s wealth with these life insurance strategies:

  • Estate Bond: Multiply your estate to provide a larger tax-free legacy for your beneficiaries
  • Charitable Giving: Maximize your gift and get probate fee protection by designating a charitable organization as your beneficiary
  • Insured Annuity: Receive a guaranteed regular income stream that can fund your life insurance premiums, with a cash payout upon your death

Business Insurance Needs

Our financial team can put together insurance packages that shield your business from financial losses due to acritical illness, injury, or death of key person or shareholder.

Business insurance benefits can be used to cover such expenses as:

  • Coverage for outstanding business loans and liabilities
  • Buy-sell agreement funding
  • Capital gains taxes
  • Future tax liabilities
  • Office expenses
  • Recruitment
  • Public relations

Executive Compensation Packages

You can attract and keep the best and brightest key talent by offering executive compensation packages. These packages include insurance, retirement, and wealth creation tools such as:

  • Term, whole, or universal life insurance packages
  • Comprehensive critical illness, disability, and long-term care packages
  • Individual Pension Plans (IPP) and 
  • Retirement Compensation Agreements (RCA)

We’ll help you put together and manage executive compensation packages that suit your industry and business needs.

Corporate Pension and Insurance Planning in Toronto, Mississauga, Ancaster and Southern Ontario.

Plan now to protect the future of your wealth, your business, and your estate. Our tax-efficient pension and insurance strategies put every possible advantage to work for you, bringing you peace of mind that your future is well looked after.

With over 80 years of experience, the portfolio managers at Access Private Wealth / Mandeville Private Client Inc. provide exceptional wealth management expertise to high net worth families and businesses in Toronto, Mississauga, Ancaster, and Southern Ontario

If you think your financial picture or investment strategy could use a review, contact us today for a free consultation.

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    Critical IllnessEstate BondEstate PreservationExecutive Top-up for DisabilityFamily Wealth Transfer PlanInsured AnnuityInsuring Your ChildrenKey Person InsuranceLong-term Care Insurance