RBC: Locked-In RRSPs and Your Options | RRSPs and RRIFs | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
sp_Search Search
Advanced Search
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Search Search
Go to Bottom
No permission to create posts
sp_Feed Topic RSS sp_TopicIcon
RBC: Locked-In RRSPs and Your Options
March 13, 2021
10:26 am
Norman1
Member
Members
Forum Posts: 7204
Member Since:
April 6, 2013
sp_UserOfflineSmall Offline
Go to Top
1sp_EditHistory sp_Permalink sp_Print

As part of a marketing campaign, RBC is offering an 18-page PDF guide Locked-In RRSPs and Your Options that explains locked-in registered plans:

https://www.rbcroyalbank.com/services/retirement/lira-s-or.html

One can answer "No" to the question "Would you be interested in receiving financial advice, at no obligation, from an advisor?" and still download the guide.

March 13, 2021
12:00 pm
Londonguy
Member
Members
Forum Posts: 535
Member Since:
May 27, 2016
sp_UserOfflineSmall Offline
Go to Top
2sp_Permalink sp_Print

Thanks, Norman. It's handy having all the LIRA info in a single document

March 13, 2021
1:05 pm
Dean
Valhalla Mountains, British Columbia
Member
Members
Forum Posts: 2158
Member Since:
January 12, 2019
sp_UserOfflineSmall Offline
Go to Top
3sp_Permalink sp_Print

Norman1 said

As part of a marketing campaign, RBC is offering an 18-page PDF guide Locked-In RRSPs and Your Options that explains locked-in registered plans:

https://www.rbcroyalbank.com/services/retirement/lira-s-or.html

. . .

That's ⬆ 'EXCELLENT' ❗

I have a small (~ $30K) Locked-in RRSP based in Ontario, that I would like to completely transfer over to my regular RRSP. According to that PDF Guide Book (Pages 10 & 11), I can do just that, using a two step process :

    Step 1.) Unlocking of funds and transferring to RRSP/ RRIF or lump sum.
    Step 2.) Unlocking of small plan balances.

Thanks Norman,

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

March 13, 2021
2:00 pm
Londonguy
Member
Members
Forum Posts: 535
Member Since:
May 27, 2016
sp_UserOfflineSmall Offline
Go to Top
4sp_Permalink sp_Print

Lucky you, Dean. My spouse's account is above the YMPE, so her only choices are a LIF or a Life Annuity for the funds that have to remain in her account after I move the maximum 50% into a RRIF once she becomes eligible. I feel obliged to continue to actively manage her account rather than accept an annuity at these depressed interest rates

No permission to create posts
sp_Feed All RSS
Go to top

Please write your comments in the forum.