Creative Insurance Planners Inc.

Group Pension Plans

Combined Deferred Profit Sharing Plan (DPSP) & GRSP Plan

Advantages
	*Vesting schedule permitted for employer contributions to a max. of 2 years of plan membership.*
	*Employer contributions are not identified as employee income and do not attract additional payroll taxes.*
	*Minimal restrictions on rules for employee eligibility etc.*
	*Maximum flexibility for the pay out of plan proceeds.*
	*"In-service" withdrawal of required employee contributions can either be unrestricted, restricted to certain circumstances or not permitted at all.*
	*Employers have more flexibility in the timing of remitting their contributions.*
	*No "lock-in" rule, so employee may take assets in cash upon termination.*

Disadvantages
	*Employer cannot be sure funds will be used for retirement and may sometimes find an employee(s) using these funds to start a competing business.*
	*Corporate Trustee required - annual fees are applicable.*

Please Note:
This website is intended for informational purposes only and is not intended to provide financial and/or insurance related advise. Please contact Angela Knight van Schaayk, Associate prior to making any decisions based on information obtained from this site.