Retirement Plans

The Income Tax Act currently recognizes and supports three types of deferred income plans (shown in Figure 9-1): Registered pension plans; Deferred profit sharing plans; and Registered retirement saving plans. A registered pension plan can either be contributory (both the…

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RPP- Defined Benefit Plan

Defined benefit plans are far more predictable because the employee knows how much his/her pension will be upon retirement. The benefit that the employee eventually receives is based on one of, or a combination of, the following factors: a pre-determined…

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