Personal Finance

Transfer early retirement allowance to spouse?

  • Last Updated:
  • Dec 10th, 2018 6:09 pm
[OP]
Newbie
May 13, 2007
30 posts
Montreal

Transfer early retirement allowance to spouse?

So my wife is a nurse in Nova Scotia and as part of a previous agreement with the government, all nurses are being paid out their retirement bonus early and the government is doing away with the program. So basically my wife is getting $12,000 tax-free from the government to direct towards her RRSP. I took out $20,000 from my RRSP a few years back to help finance the new mortgage and have to pay it back within 15 (?) years. So my question is, can she transfer this to me so I can put it in my RRSP so as to wind up the outstanding balance in my home-buyer's plan. Or does she have to put it solely in her RRSP? Thanks
2 replies
Sr. Member
User avatar
Jan 15, 2017
564 posts
252 upvotes
I think by tax-free you mean registered funds, so the transfer has to go in her registered plan.

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