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Simplified Pension Plan SIPP

Designed to minimize the administrative task for the employer, the SIPP offers the same advantages to participants as the Defined Contribution Pension Plan. SSQ becomes the plan administrator, leaving the employer free to focus on core business operations.

Therefore, the SIPP offers a simplified administration of a plan with precise standards and an attractive taxation:

  • contributions by payroll deduction through your employer that immediately entitle you to a tax reduction. You may also choose to contribute by automatic withdrawals from your bank account or by cheque.
  • participation by your employer to the plan. However, the amount your employer contributes is not considered additional income and is therefore not taxable.
  • choice of investment policy: individual or according to your personal investor profile.
  • workshops offered to participants.
  • comprehensive periodic statements.
  • you are restricted to a limited number of withdrawals so as to maintain your savings until retirement.
  • many employers, groups and association subscribe to a mixed plan combining an RRSP and an SIPP.

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