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Canadian IPP Market is Ready to Explode

Individual Pension Plans (IPPs) are gaining a lot of attention these days. They are considered to be an upgrade to RRSPs and the target demographic – those over 40 years of age with a reasonably high income – are in prime position to buy these Plans.

"The average age of working Canadians is 42," says Peter Merrick, BA, FMA, CFP, FCSI, President of Merrick Wealth Management and author of the upcoming book "The Essential Individual Pension Plan Handbook" (Lexis Nexis, 2007.) "IPPs start to affect a person at age 41."

"There are currently about 8,500 Plans in Canada," he says. "There will be 300,000 in the next 15 years."

Merrick says that there will be over one trillion dollars passing hands in the coming years due to succession. Between one and two trillion dollars will change hands in businesses in the next 20 years.

With the stock market not performing as well as some people would like and RRSPs offering relatively low contribution levels, the search for alternate tax relief has brought many Canadians directly to IPPs. Tax deductible, creditor-proof, offering guaranteed income to members and their spouses, IPPs are becoming one of the most popular ways to provide all the benefits permitted under the Income Tax Act of Canada in order to maximize tax-sheltered retirement savings.

Are you ready for the boom?

Do you want to get in on the IPP market?

You’re in luck.

"Al and the Individual Pension Plan" is a new online course created specifically with ILS Learning Corporation subscribers in mind. Written by Quigley Consulting Inc.'s Ian Quigley, MBA, CFP, CIM, this course will help financial planners, Life agents or anyone else who wants to know more about IPPs get the information they need to successfully sell the product.

Who is Al? Al is like many of us. He's married with kids. He's worked hard in his career and is now reaping the rewards. He's nearly debt-free and, overall, Al is enjoying life. You probably have an Al or two on your client list.

However, like many of us, Al is sick of the tax burden he has to bear. But what is he to do? Could an Individual Pension Plan be the solution?

Join Al in his meetings with friends and professionals as he learns all about the Individual Pension Plan and how this could be the answer he didn’t even know he was looking for.

Quigley's innovative and relevant course takes a thorough look at IPPs while using Al's process as a guide. Upon completing the course, students will feel confident in their ability to establish IPPs for their clients.

For more information on this course or to find out more about our one-year subscriptions, contact us at 1-800-404-2211 or by email at info@ilscorp.com

Great updates to our BC Fundamentals of Insurance course!

We’ve recently given our BC Fundamentals of Insurance course a complete overhaul in order to make it easier and more convenient for you to be prepared for the Level 1 exam.

The great content, taught on video by long-time insurance educator Todd Hochban remains the same but you will find that navigating the course is now easier.

As well, to make the preparation course more comprehensive, we’ve added four new chapter review quizzes. Feel confident with this complete video course that uses the same techniques that have helped hundreds of students successfully pass the Level 1 insurance exam.

Taking the BC Fundamentals of Insurance preparation course with ILS Learning Corporation has never been easier or more convenient!

Why not take a look for yourself at www.ilscorp.com?

Could this happen in Canada?

The French, who have long been making workers around the world jealous with shorter work weeks and generous vacation time, are investigating the idea of allowing employees to nap on the job.

The French health minister announced that the country is putting $9 million USD into a public awareness campaign to inform French citizens about sleeping troubles. According to the ministry, almost one in three French people suffers from such problems.

Over half of France’s population complains that a poor night’s sleep has negatively affected their job performance. As a result, Health Minister Xavier Bertrand is calling for further sleep-related studies and is behind supporting on-site naps.

Bertrand is adamant that sleepless nights not only affect his nation’s productivity, but also leads to between 20 and 30 percent of highway accidents across France each year.

What do you think? Should weary employees be allowed to nap at work? Send your comments to newsletter@ilscorp.com and we’ll post some of the comments in next month’s On Track!

An important notice about accreditation

All of the CE courses provided by ILS Learning Corporation are accredited in all Canadian jurisdictions. From coast to coast to coast, you can be assured that the courses you take will count towards your mandatory CE licensing requirements.

For those who need CE credits for the CFP designation, please note that while our courses are highly recommended and meet the CE guidelines of the Financial Planners Standards Council (FPSC), it is up to the CFP licensee to determine whether completing a course qualifies for CE credits.

The FPSC relies on the accuracy of the CFP professional's self-assessment of their CE activities.

A Touch of Humour

The Meaning of Dreams

A young woman was taking an afternoon nap. After she woke up, she told her husband, "I just dreamt that you gave me a pair of diamond earrings for Valentine's Day. What do you think it means?"

"You shall know tonight", he said.

That evening, the man came home with a small package and gave it to his wife. Delighted, she opened it. She found a book entitled "The Meaning of Dreams".

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