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today we will talk about deferred profit sharing plans dpsp what it is and how it works a deferred profit sharing plan is a Canadian employer sponsored profit sharing plan meant to help employees save for retirement the money in an employees dpsp account grows on a tax deferred basis until withdrawal dpsp are a type of pension plan registered with the Canada Revenue Agency on a periodic basis the employer shares profits with employees through the dpsp employees who receive a share of the profits paid out by the employer do not have to pay federal taxes on the money until they later withdraw it for employers a deferred profit sharing plan paired with a group retirement savings plan can be a cheaper alternative to offering a traditional pension plan in 202 22 the maximum allowable contribution to a deferred profit sharing plan is 18% of the employees compensation for the year or $ 15,390 whichever is less if an employee with a deferred profit sharing plan dies their surviving spouse or c
