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Question about transferring an RRSP
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Before I go to a bank and they try to swindle me into something I don't want to do, I want to see if anyone knows what my options are. My wife's work had an RRSP contribution program where they matched a certain percentage of what she contributed every 2 week pay cheque. When covid started they canceled their part of contributions but I told her to keep doing hers. 3 years later, her company is being bought out and they are canceling the whole thing. We have roughly 70K in this account. My question is, is our ONLY option with this money to move it to a new RRSP account thar I'd have to open up with our current bank, or are their other options available thar we can move it to without being taxed 30% on it?

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1 year ago