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Defined Contribution Pension Plans

In a Defined Contribution Pension Plan (DCPP), both the employer and employee make contributions that are tax deductible and accumulate on a tax-deferred basis. The administrator of the plan (in Quebec, the administrator is a pension committee) is required to offer a wide variety of investment funds to make the retirement fund grow. In most cases, members provide their own investment instructions for the amounts contributed on their behalf. The funds accumulated in a DCPP cannot be withdrawn before the member retires and must be used to purchase an annuity.

These plans are generally better suited to employers who are concerned with assisting their employees in building an income for retirement.

Contact your Advisor to discuss your retirement strategy and business needs.