Self-serve RRSP and RRIF withdrawals no longer an option | Hubert Financial | Discussion forum

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I'm not surprised ⬆.

The Hubert we all liked is just a shell of it's former self now.

Will Access eventually bring back the full body of the old Hubert we all
admired ... Unlikely.

I have two remaining GICs with Hubert that mature next year. Unless a miracle happens ... when their done, I'll be taking my $$$ and walk away.

Dean

phrank said
I've given up trying to get help with issues like no longer showing if an rrsp contract is a spousal contract, any longer.   

It shows on my e-statement for all four of the RRSP Spousal GICs

Spousal Indicator: Y Spousal Contributor: *my name*

BillieBob said
I was aware that a lot of self-serve options were discontinued with the Hubert merger into Access but today I was quite surprised to find out that self-serve withdrawals from RRSPs and RRIFs have also been discontinued. The CSR explained that the reason is because they are registered plans with government reporting and tax withholding requirements; the requirements were the same when withdrawing from registered plans via the old Hubert so the explanation doesn’t make much sense. The CSR did say that Access is working on adding back some self-serve options but didn’t mention specifically which ones.  

Umm ummm are you saying that we were able to withdraw from your RRIF or RRSP HISA account on your own? Self serve? I have never had that experience and always had to phone in and then you have to electronically sign a document saying you will have a tax withhold. They even offered to break or partially withdraw from a GIC if you wanted more than the mandatory amount. Do keep in mind that some “people” in some FIs are clueless about RRIF and RRSP products. I take extra all the time from Hubert and expect to do so in the future. Didn’t they say nothing will chsnge?

phrank said

why doesn't it say anything to denote it's a spousal RRSP!  

Hopefully, the CSR will just advise you to check your e-statement to find the information you are seeking regarding spousal designation. In any event, good luck.

phrank said

That's what they've been telling me to do since October, but there's nothing on the estatement saying what you're saying. It's just listed as another RRSP with another contract number. So them telling me to check my estatement won't do any good if the information isn't there!!!!!!!!!!!!!!!!!!!!!! I make mistakes, but I'm not big of a maroon. This is just another instance of a job not being done properly. Nothing can be assumed to served as paid for.

The last time I pushed Hubert on this they told me I should understand that they are very busy during this transition and that I should be understanding. I'm so sick and tired of this BS attitude of the customer should be understanding of the people working for the business who are not doing their job and then all the other people chime in saying, well of course, the business is only there to make money. It's all these idiotic attitudes where the people not doing their jobs and the fat cats getting rich off this garbage service are shielded with this belief that it's a "business" and not people screwing you over, that have gotten us to this place where nothing and I mean absolutely nothing can ever under any circumstance be assumed to have been done with any level of effort; if at all; unless you do it yourself, for yourself. Anytime you get what you pay for, it's sheer luck.

I always wondered what would happen when the majority of people stopped doing their job and now I feel like I'm living it.  

You have taken steps to move your accounts elsewhere then? Where?

BillieBob said

serendipity said

Umm ummm are you saying that we were able to withdraw from your RRIF or RRSP HISA account on your own? Self serve?

Yes. In December 2022 (and years previous to that), I was able to make withdrawals from my Hubert RRSP HISA manually. Hubert would withhold the appropriate amount of tax at the time of withdrawal.  

Ahhhh ok. I thought I had done one on my own. Then the next year it had to be with their assistance. I put my boxing gloves on, on that call and gave them a rough time. Not once did they mention the policy had changed. Now I feel a bit gas lighted by Hubert. And I do recall being treated like a child in regards to how much I wanted to take out, net or gross and that I would have a tax withhold. Jeeesh I went self serve and know what my needs are and know how to get it and know what to expect. And I didn’t appreciate their restrictiveness. But I can imagine some one screwing up by taking too much and then the heat is on them … so changed the policy?

Note: I remember calling them saying the withdrawal feature for RRIF was there but didn’t work. They gave me a BS answer vs just being honest about it.

cgouimet said

You have taken steps to move your accounts elsewhere then? Where?  

I don't understand the point of your questions. I pointed out poor, dishonest service, thanked someone for giving me more evidence I am not wrong that there should be information than I am seeing and that's it.

Case1030 said

I guess I'm just not seeing the reason for such angst (hundred thousand exclamation points being the clue on that) for something that is either a yes or no situation.

Having said that, I leave it in your capable hands to work it out. Have a nice day!  

Are you a troll? It's not an issue of if it is or isn't. It's that Hubert no longer properly designates it as such. I don't know why you have to try and turn this into I'm being unreasonable after all I did was thank you for confirming where, under the new system the designation is for you so I can tell them.

If you can't figure out why proper designation and management of a spousal RRSP is important, then I really don't know what to say. I just hope other people don't pick up on your carefree attitude towards them and assume that they can act the same way.

I apologize for thanking you and then trying to explain the situation further when you immediately assume I'm the one (and not hubert) who is making the mistake.

BillieBob said

phrank said
… I've given up trying to get help with issues like no longer showing if an rrsp contract is a spousal contract, any longer.… 

So your Hubert statement doesn’t show the information shown here? This is what I see on my statement.
  

Oh thank you for the screen shot! No it doesn't. Thank you again for posting that proving what it's supposed to show. I asked them about it right after the transition, they said it would be fixed on the following statement, it still isn't and when I've called last they wouldn't even admit it should show anywhere. When I asked for simple confirmation that they didn't screw up the designation over the transition they said they can't see those details on the account and wouldn't escalate. Next time I the time to call them I won't hang up until they do escalate. Thank you BillieBob for taking the time to post that screen shot!!!

Norman1 said
Should Hubert not be able to sort it out, one could take matters into one's own hands to restore the spousal status of what's in the RRSP.

Under Income Tax Act subsection 146(16), a non-spousal RRSP can be transferred to a spousal RRSP for the same annuitant. See previous discussion.

Open a new spousal RRSP at Hubert for the same annuitant and transfer the previously-spousal RRSP to the new spousal RRSP.   

Oh that's a great idea Norman, now I see why you're number 1