The individuals in each of the following scenarios are considering an individual pension plan (IPP) as a potential option to fund some of their personal retirement needs. Each individual wants to maximize their personal pension benefits and is quite comfortable with the complexity and costs associated with an IPP. From the information below, identify the situation where an IPP is viable or suitable option.

a. Alex, age 47, is the owner-manager of a 20-year old company, Clear & Fresh Inc. Alex earns an annual salary of $200,000 and this has been consistent over the last 5 years. Sales are expected to continue to be strong.

b. Emily, age 45, is the owner-manager of a newly established business, Awards Galore Inc. During the first year of operation, Emily received a salary of $60,000 and expects it to increase to $100,000 next year.

c. Marty, age 48, is the sole proprietor of Stats Plus, where he takes annual draws of $225,000. He anticipates that these draws will remain the same and the company will continue to grow.

d. Anna, age 34, is the owner-manager of Benefits Inc., a highly successful chain of drug stores. He earns an annual salary of $175,000, the outlook for the company is very positive.