Deferred profit sharing plan (DPSP) is a trust created for all employees of a company or a class or classes of employees within the company, and is registered with the Canada Revenue Agency (CCRA).

You should talk to your accountant about the impact on your taxes. Your financial services adviser can help you fit this plan into the rest of your portfolio. It is best to consider all aspects so that none will have a negative impact on the other. It is even possible for one benefit to cancel another. That would not be a situation you would want to pay to enter.