Foreign Plan
A retirement savings plan created by a person or a company to benefit individuals who are not Canadian residents. These beneficiaries may or may not be Canadian citizens, but the plan applies to income they earn for services they perform outside of Canada.
Investopedia Commentary
Foreign plans are one of the most complex topics related to personal income tax in Canada. Individuals interested in creating a foreign plan for themselves or for another non-Canadian resident would be well advised to seek the assistance of a professional.
Related Links
Determining Your Post-Work Income
Retirement Planning Basics
Introductory Tour through Retirement Plans
See also: Canadian Revenue Agency - CRA, Deferred Profit Sharing Plan - DPSP, Registered Pension Plan - RPP, Registered Retirement Income Fund - RRIF, Registered Retirement Savings Plan - RRSP, Self-Directed RRSP