There are several pension plan options for small business owners and incorporated professionals in Canada in retirement that have tax advantages. In this recording, Dr. Mark Soth (from The Loonie Doctor Blog & Money Scope Podcast) explains the Individual Pension Plan (IPP), Multi-Employer Pension Plan (MEPP) and RRSP as options for retirement planning.

𝗧𝗼𝗽𝗶𝗰𝘀 𝗖𝗼𝘃𝗲𝗿𝗲𝗱:
0:00 - Intro
0:05 - Incorporation vs Not Incorporated Pension Options
3:17 - Pension Taxation
5:04 - IPP vs MEPP
10:00 - Individual Pension Plan Basics
11:40 - Comparing RRSP, IPP & MEPP
14:55 - Which pension plan to choose?

𝗥𝗲𝘀𝗼𝘂𝗿𝗰𝗲𝘀:
1. Pension Basics for Self-Employed Business Owners: https://www.looniedoctor.ca/2023/07/1...

𝗕𝗶𝗼: Dr. Mark Soth (aka The Loonie Doctor) completed training in respirology and critical care medicine at McMaster University in 2006 and is currently an Associate Professor in the Department of Medicine there. After a decade in these leadership roles, he has now shifted his focus to develop and deliver curriculum to improve physician financial health, career development, and well-being.

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𝗗𝗶𝘀𝗰𝗹𝗼𝘀𝘂𝗿𝗲𝘀: Dr. Mark Soth's blog (looniedoctor.ca) receives a small commission from Qtrade Direct Investing from accounts opened using the affiliate link on the site. The commission goes towards offsetting the costs of running his blog. This presentation is for education purposes only. Any information, views or opinions expressed are solely those of the presenter or their company, and do not necessarily represent those of the Physicians Financial Wellness Conference (PFI Conference), nor are they a substitute for financial advice specific to your personal situation.

#pensionplan #smallbusinessowner #retirementplanning