Simplified pension plan

A simplified pension plan (SIPP) is a written contract by which an employer only or an employer and workers are required to make contributions in view of providing the workers with retirement income.

The SIPP is offered and administered by a financial institution. It combines the advantages of defined contribution plans, group RRSPs and deferred profit-sharing plans (DPSPs). It is designed to respond to the needs of small businesses.

For more information on this type of plan:

• Characteristics of the plan 
• Membership requirements 
• Information for members 
• Plan income 
• Transfer rules 
• Cash payments (refunds)
• Administration of a plan 
• Amending a plan 
• Termination of a plan