GVR has struck a new partnership with pension consultant company INTEGRIS Pension Management Corp. (INTEGRIS) to provide a retirement savings option for members who have incorporated their business through a Personal Real Estate Corporation (PREC).

Through this partnership, PREC members can have INTEGRIS register a Personal Pension Plan (PPP) with the Canada Revenue Agency.

Depending on your income level, a PPP can provide several key benefits:

1. Additional tax savings well above what is available under a Registered Retirement Savings Plan (RRSP) and Tax Savings Account (TFSA);
2. Tax Free Intergenerational wealth transfer if you have family members as employees of your PREC;
3. The ability to adapt your contributions to your business’ cash flow;
4. Access to broader asset classes for investments, including approved private real estate holdings within your PPP, through INTEGRIS’ private family office network and third-party discretionary portfolio managers.

The PPP can provide tax-deductible investment room and thus tax-saving opportunities well above what’s available under the RRSP and TFSA programs.

The core benefit of a PPP plan is that it allows incorporated professionals to invest more income toward retirement and pay fewer taxes annually compared to what’s allowed under the federal government’s RRSP and TFSA programs.

“As independent contractors, Realtors’ businesses are structured in a unique way compared to traditional employees. This makes it difficult to find an optimal pension solution,” King said. “After considerable analysis, we are proud to help facilitate this Personal Pension Plan opportunity.”

Remember, only PREC members can take advantage of this plan, and it requires some analysis to determine if a PPP is appropriate for you.

If you want to explore this retirement solution, INTEGRIS will assist you in determining if a PPP is appropriate for you and your PREC. Furthermore, you may have the option to transfer your existing RRSP investments into your PPP in certain circumstances plus capture previous years contributions where applicable.

“As with any financial advice or opportunity, you must carefully examine the facts and weigh the benefits and risks against your personal financial situation,” King said.

Our interview podcast the Critical Path sat down with JP Laporte, CEO at INTEGRIS, to go over the plan and what it means for you. Listen below. 

We also hosted an online event with JP to introduce the plan in more detail. Watch the recording below. 

We encourage you to review these additional resources about this plan and share them with your trusted financial professionals.

• Personal Pension Plans Explained
• 15 Reasons to Consider a PPP 
• Personal Pension Plan Case Study Example 
• Sample PPP Quote

“When the sun sets on your fulfilling career, it’s a time to bid farewell to the hustle and bustle of the professional world and say hello to the serenity of your golden years,” says Laporte. “Yet, the impact of financial security cannot be overstated as it transforms what could be a potential worrisome phase into a period of tranquility. Focusing on your retirement plan today creates the backbone for a safety net which allows you to pursue your passions, travel the world, or simply revel in the joy of spending time with loved ones.”

We'll share more information about this plan in the weeks ahead. If you want more information, or to set up a consultation with INTEGRIS directly, please email gvr@integris-mgt.com.