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    Individual Pension Plans revived

    With Hallowe’en just passed, it brings to mind another spectre that appears to have been revived: Individual Pension Plans (IPPs). And it’s good news for business owners.

    As we have written previously in this blog (See previous articles), IPPs have long been one of the most favourable tax strategies for business owners to save for retirement.
    However, this year’s federal budget, which proposed new funding rules for IPPs, significantly reduced their attractiveness. Recently however, the rules were modified to restore most of the tax benefits that make these retirement vehicles so attractive.

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    Newport’s “Top 10″ over the last 10

    This year marks a milestone for Newport as it was ten years ago this month that we launched the company…one that we envisioned would be a home for successful entrepreneurs and other high net worth families to invest with professionals and access trusted advice on all wealth management matters. On behalf of everyone at Newport, thank you to our 600 families we serve across the country and to the friends of the firm for contributing to our vision and helping to make the dream a reality. It has been a privilege which we do not take for granted.

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    IPPs: a better way for entrepreneurs to build retirement capital?

    A few weeks ago, my colleague David Lloyd wrote about how much money is needed for retirement. Most people have a number in their head. Maybe it’s sufficient. The next question is, how do you make sure you meet this number?
    As a business owner, you have a unique savings opportunity you may not even know about. It’s called an Individual Pension Plan.
    Imagine for a moment, the federal government gave you the opportunity to create a corporate pension plan, just for you. A plan that would provide you with dependable income in retirement – much like that enjoyed by teachers or civil servants – funded by your corporation.
    How would you design the plan? Maybe something like this?…