Lol. Someone thinks a lot of themselves.abiyes wrote: ↑
Beware of TD Canada trust. If you are en engineer like me or someone who has a bit of money in the bank, TD will NEVER give you the money that you have in RRSP even during COVID-19 times in case you need it. And Everyone needs to know about this. I have proof of this. Stay away from TD.
You should have got your money when the markets started to crash before the lockdown. The banks are greedy and only care about themselves despite all the emails and ads they send.abiyes wrote: ↑
Beware of TD Canada trust. If you are en engineer like me or someone who has a bit of money in the bank, TD will NEVER give you the money that you have in RRSP even during COVID-19 times in case you need it. And Everyone needs to know about this. I have proof of this. Stay away from TD.
Instead of just SAYING you have proof, why don't you share some of this ACTUAL proof with us.abiyes wrote: ↑
Beware of TD Canada trust. If you are en engineer like me or someone who has a bit of money in the bank, TD will NEVER give you the money that you have in RRSP even during COVID-19 times in case you need it. And Everyone needs to know about this. I have proof of this. Stay away from TD.
After reading that thread, Op's is not trying to withdraw his locked-in pension/RRSP, but just his regular RRSP contribution, which I see nothing wrong, specially of he need $ now. Why TD is not allowing him to do so?D50M83 wrote: ↑ This is OP's second, and more vague post about TD already.
td-wants-me-lock-my-rrsps-pension-plan- ... #p32448657
Down vote and move on people, nothing to see here.
There s a comms breakdown. OP should go to local branch and discuss. Nothing gets done over the phone. I wouldn t be surprised if TD is just trying to sell product. Truth be told the branch was pleading with me to talk to one of their personal investment advisors for at least 4-5 years. And i was sceptical. I finally agreed and still kick myself to this day that i had not signed on with an advisor sooner.
OP making the rest of us engineers look bad...
The question is not whether TD should give advice or not, the question is who should make decisionsengineered wrote: ↑ OP making the rest of us engineers look bad...
Likely TD is telling him that he shouldn't withdraw his RRSP, as he will pay huge penalties (can be over 30%) for removing it early and will permanently lose that contribution room. You'd be better borrowing money if you can. RRSP should be last resort.
https://www.sunlife.ca/ca/Tools+and+Res ... cale=en_CA
https://www.canada.ca/en/revenue-agency ... awals.html
Please provide more details. What kind of RRSP were you trying to withdraw from (locked-in?). What was the reason why you were denied such withdrawal?abiyes wrote: ↑
Beware of TD Canada trust. If you are en engineer like me or someone who has a bit of money in the bank, TD will NEVER give you the money that you have in RRSP even during COVID-19 times in case you need it. And Everyone needs to know about this. I have proof of this. Stay away from TD.
That's not what I said though, I said TD is telling him he shouldn't and he's misinterpreting that as he can't.
That could be the reasonengineered wrote: ↑ That's not what I said though, I said TD is telling him he shouldn't and he's misinterpreting that as he can't.
Good advice, the OP should take heed.engineered wrote: ↑ OP making the rest of us engineers look bad...
Likely TD is telling him that he shouldn't withdraw his RRSP, as he will pay huge penalties (can be over 30%) for removing it early and will permanently lose that contribution room. You'd be better borrowing money if you can. RRSP should be last resort.
https://www.sunlife.ca/ca/Tools+and+Res ... cale=en_CA
https://www.canada.ca/en/revenue-agency ... awals.html
)
In more ways than one. Sheesh...engineered wrote: ↑ OP making the rest of us engineers look bad...
That's one possibility. But if the customer insists, despite the warnings. they can't refuse the request. Of course their hands are tied over the 30% withholding. (Which BTW isn't a penalty. It's an at-source withholding just like what happens to ordinary pay cheques. Some or all gets refunded at tax time if taxable income is low enough.)Likely TD is telling him that he shouldn't withdraw his RRSP, as he will pay huge penalties (can be over 30%) for removing it early and will permanently lose that contribution room.
