TISP and ETISP
The Republic Tax Incentive Savings Plan (TISP) is an approved deferred annuity plan. It is a flexible retirement investment plan that provides a conservative, convenient and systematic method for an individual to accumulate cash for future needs, while at the same time enjoying attractive returns and significant annual tax benefits.
While ETISP is quite similar, this plan further enhances the potential investment returns through a portfolio of primarily equity securities.
CTISP and CETISP
The Republic Corporate Tax Incentive Savings Plan (CTISP) is design under the provision of the Income Tax Act of Trinidad & Tobago 134(6). This provision allows the earnings of an employee, which are categorised as bonus and allowance, to be paid – without being taxed – by the employer into the plan for the purpose of generating retirement benefits for the employee.
Employers are allowed to contribute directly to the plan on behalf of their employees up to a maximum of the greater of 33 1/3 of the employee’s chargeable income or 20% emolument income net of contributions to other plans.
All contributions made to CTISP / CETISP can only be made by the Employer and are fully tax deductible.
CTISP strategy is the similar to TISP listed above and Corporate ETISP is similar to the ETISP listed above.
Your long-term retirement goals are now possible. Start early, save on taxes, and watch your money grow so you can enjoy tomorrow.
The Trust Deeds, Disclaimer and other legal documentation should be read in its entirety before investing in these plans and are available for viewing at our branches.
The objectives of TISP and CTISP are:
The objectives of ETISP and CETISP are:
TISP provides individuals with the opportunity to save towards their retirement, whilst benefitting from reducing their tax payments. Whereas CTISP allows companies to make contributions on behalf of their employees to enhance their pension benefits.
ETISP provides individuals with the opportunity to save towards their retirement, whilst benefitting from reducing their tax payments. The plan allows individuals to achieve potentially higher long-term investment returns through a larger allocation to equity securities. Whereas CETISP allows companies to make contributions on behalf of their employees to enhance their pension benefits. The plan potentially achieves higher long-term investment returns through a larger allocation to equity securities.
You can invest with as little as $100 monthly.