A Structured Retirement Income Option

“You cannot have a bad day,” is a thought passed along by Lakefield Ontario sculptor, Don Frost.

His reasoning is simple.  If you have a good day, it is a good day.  If the day had challenges, then you will have learned something or have a good story to tell.  Either is good.

Taking on the idea of every day is a good day, can be difficult in the moment, but on reflection I suspect Don is right.  A grateful outlook adds value to your life.

I had considerable value added to my life today, 3 December 2014.  Jean-Pierre Laporte of INTEGRIS Pension Management Corp. was kind enough to spend an hour with four of us to help better understand their offering in the deferred income/registered pension plan market.  It is a very tidy package with some interesting ideas and applications.

I think the thing that impressed me, and at least one other of the participants, is how professional their services are.  It struck me the way dealing with the big Bay Street firms affects me.  No stone unturned, nothing left to chance.  He talks about their services as “fiduciary services” rather than some less onerous definition of the role.  A meaningful distinction.

The proprietary technology to communicate with plan members, investment advisors and plan sponsors is impressive.

As opposed to the big Bay Street firms, the fees are pleasantly competitive with the many others who charge less, but who may not deliver the same technology and level of service.

Creating pension income is a tedious and rule bound problem and an RRSP is sometimes not your best option.  For those who qualify, there are exciting advantages to this alternative way to look at the problem.  As opposed to traditional  Individual Pension Plans, this one has flexibility.  People who have options always do better.

If you are a professional advisor, or a business owner interested in more effective ways to create retirement income, you should take a look here.  For clarification of the points you may find, or to discuss implementation, please contact me.

Today has been, automatically, a good day.  I have learned something.

Don Shaughnessy is a retired partner in an international public accounting firm and is presently with The Protectors Group, a large personal insurance, employee benefits and investment agency in Peterborough Ontario. Contact: don@moneyfyi.com  

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