Benefit Targets

Taking the guesswork out of saving for retirement.

Saving made simple.

Members of the ICPP focus on their retirement lifestyle goals, not on an account balance. Our strategically designed Benefit Targets make it easy to save for the retirement you want.

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Our members and their employers contribute toward Benefit Targets that make retirement saving easy to understand. Working with our pension professionals, Participating Employers select a default IDEAL BENEFIT for their employees. The Ideal Benefit is the core Benefit Target of the ICPP and is expected to provide a reliable lifetime pension once fully funded. Members can expect this pension to provide adequate income for their basic needs in retirement.

Individual members can select additional Benefit Targets they would like to contribute toward, based on their personal financial profile and retirement goals (IDEAL BENEFIT – PLUS, INSURED EXTRA BENEFIT, and IDEAL EARLY BENEFIT).

Regular updates from our pension professionals help members stay on track to fund their Benefit Targets and retire on schedule.

Scroll down to read more about the ICPP’s Ideal Benefit Target and other Benefit Target options.

ICPP Benefit Targets

IDEAL BENEFIT (default benefit for all members)

This is the primary benefit of the ICPP and is selected by the Participating Employer. The Ideal Benefit is designed to be adequate for most employees. A career Member of the ICPP is expected to fully fund this target, which provides reliable, inflation-linked lifetime retirement income.

IDEAL BENEFIT - PLUS

This benefit is designed to provide additional lifetime retirement income a Member wants to receive above the Ideal Benefit. The benefit can provide regular lifetime income or variable income. How a Member receives this benefit is at their discretion, subject to regulatory limitations.

INSURED EXTRA BENEFIT

This benefit allows a Member to target extra retirement income to fund an insured monthly pension payable during their lifetime. This benefit will typically be used by high-income earners who wish to receive guaranteed lifetime retirement income outside the ICPP from an insurance company.

IDEAL EARLY BENEFIT

This benefit allows a Member to target additional retirement income during their “honeymoon” in retirement years. By making additional discretionary contributions into the ICPP, a Member may increase their retirement income up until they reach age 71.

The Building Blocks to Worry-Free Retirement Planning

Slide All Members of the ICPP contribute toward the Ideal Benefit Target, designed to pay out a reliable lifetime pension.

For many Members, this will be the only target they choose to fund. Ideal Benefit Slide Ideal Benefit Plus Members can select the Ideal Benefit Plus to target additional lifetime income above the default Ideal Benefit. Ideal Benefit Plus Slide Insured Extra A member can select the Insured Extra Benefit to target extra retirement income to fund a guaranteed monthly pension from an insurance company. Ideal Benefit Plus Insured extra Slide Ideal Early Members can select the Ideal Early benefit, which allows them to save for extra funds to be enjoyed during the early retirement years. Insured extra ICPP Ideal Early Box Ideal Benefit Plus Slide The Ideal Plus, Insured Extra and Ideal Early benefits can be selected in any combination, and funded in any order for optimal flexibility. ICPP Ideal Early Box Ideal Benefit Plus Insured extra + + + +