3P Pension: Safeguards

Disclaimer:
​Pensions are very complex financial and legal entities.  We have simplified this material to make the concepts more user friendly.  For more details, please contact a pension consultant by emailing info@3pfinancial.com or go to the FINE PRINT.

Safeguards
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The last thing a busy professional wants to be worrying about is whether her nest egg is safe.

In a 3P Pension plan, your assets are protected by five levels of oversight:

  1. Trustee:  Either 3 trustees of your choice or a corporate trustee we can appoint for you. The trustee(s) must sign off on the pension arrangements at the beginning and annually.
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  2. Custodian:  Usually a large government-insured bank who actually holds the physical assets in your plan.  The custodian also generates performance data for the investment manager.

  3.  Administrator:  3P has partnered with INTEGRIS to become a delegated pension administrator and actuary for your pension.  The founder and CEO, Jean-Pierre Laporte, is a Diamond Jubilee winning Pension lawyer and is considered one of the top authorities on pension law nationwide.  For 3P Pension subscribers, INTEGRIS has assumed a fiduciary relationship with you. This means Mr. LaPorte and his employees must put your interests foremost. The administrator deals with the complex CRA paperwork and troubleshoots any problems that may arise.

  4. Investment Manager:  3P’s 3 Managing Partners Tim McElvaine, Lorne Porayko and David Wingnean are experienced investors who have put their family’s life savings alongside yours.  They will help you choose the optimal asset mix for your pension from a short list of choices that have curated carefully.
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  5. YOU:  Once the subscription and onboarding process is complete, you will be granted access to a secure portal via the administrator so that you can monitor your plan.


What Happens If?

  • 3P goes bankrupt?  
The assets are safe with the custodian.  The trustee can then appoint another investment manager easily and rapidly.
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  • Something happens to INTEGRIS?  
3P will assist the trustee to appoint another administrator.  Until then, Industrial Alliance, a large insurance company that underwrites and provides actuarial service to INTEGRIS, will assume administrative responsibility.  The PPP structure can be simply converted to a IPP structure with a plan amendment if you prefer to move to a provider that does not support the triple-account product.

  • My corporation goes bankrupt?
Your pension assets are protected from all commercial creditors claims.  In fact, your annual pension contributions will take legal precedence over all other debt payments (except matrimonial claims).​

  • I get divorced?
Provincial laws require pension plan assets to be treated in a manner similar to RRSPs:  matrimonial assets are to be divided between the member and spouse. Each province has its own property division regime.  In the event of marital breakdown, you will receive advice from an INTEGRIS Pension Officer. You will of course need to seek additional counsel from a family law specialist.
As you can see, your nest egg enjoys the highest level of protection possible today and is vastly superior to traditional RRSP accounts held at brokerages.  Sleep well!

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