PRESENTATION TITLE:
Multiplying the advantages of a pension plan using a Retirement Compensation Arrangement (RCA)
LEARNING OBJECTIVES:
- Understand how an RCA is used to complement the financial objectives of the physician
- Demystify some of the misconceptions that sometimes plague RCAs in the industry
- Determine whether further inquiry is required as to their utility at the level of the individual
- physician.
SYNOPSIS OF THE PRESENTATION:
While physicians can have their Medical Corporation set up registered pension plans, few are aware of the additional tax planning opportunities made possible when a Retirement Compensation Arrangement (RCA) is added to the mix. This presentation provides an overview of the various tax and estate planning advantages that accompany the use of an RCA as a complement to a pension plan including: purchases of past service, intergenerational wealth transfers and the use of permanent life insurance as an asset class of the RCA.
BIO:
Jean-Pierre Laporte has dedicated his career to improving pension legislation.
Frustrated that the significant benefits of pensions were not readily available to those outside of large companies, Jean-Pierre created the Personal Pension Plan ™ to level the playing field and open up a new world of financial options and increased retirement savings for incorporated professionals.
In 2004, Jean-Pierre Laporte set out to create a better solution for investors that wanted improved asset protection while minimizing taxes. With an impressive academic background at the University of Toronto, Osgoode Hall Law School and the Institut d’Etudes Politiques de Paris, he is often called upon as an expert witness before the House of Commons Standing Committee on Finance, and he has written several seminal articles on pension reform, including an expansion of the Canada Pension Plan.
In 2012, for his efforts are improving retirement solutions for Canadians, he was awarded the Queen Elizabeth II Diamond Jubilee Media by the Governor General of Canada.