Personal Finance

Group RRSP plans of previous employers

  • Last Updated:
  • Dec 14th, 2019 10:56 am
[OP]
Deal Fanatic
Sep 23, 2007
5061 posts
1155 upvotes

Group RRSP plans of previous employers

I've changed jobs several times in my career.

My very first job with a matching RRSP, I remember I cashed out a portion and I transferred the locked in portion to my main bank.

My 2nd job with a matching RRSP, I left. I recall I sent HR several emails to follow up on how to do a transfer but never got a response. It has been a long time (9+ years). I don't even recall who the administrator was. My 3rd-4th job with matching RRSP I never even inquired after I left the company. Was too busy with other stresses of life. The people I used to work with left already so I don't have a way to contact the companies. I don't even recall which administrator it was. I remember I used to get an annual package about my RRSP but my mailing address has changed and I haven't received anything in the past 2 years or so.

Is there an easy way to consolidate all my historic employer sponsored RRSPs together? What should I do about the RRSPs from my 2nd-4th historic employers? Advice for the future? I'm not looking to cash out. I'm just looking for a way to see and manage my funds so it's on my radar. Preferably I'd move them all together in one institution.

Any advice is appreciated.
7 replies
Sr. Member
Aug 20, 2015
514 posts
301 upvotes
Toronto
Any previous employer RRSP plan I've had would automatically switch into whatever default plan the financial institution had after some time.

Do you remember where they are? Sunlife, Manulife etc. I would call them directly and see what the status of your account is. Once you find out you can decide to transfer it to another bank/institution if you want to consolidate.
[OP]
Deal Fanatic
Sep 23, 2007
5061 posts
1155 upvotes
tsingoo wrote: Any previous employer RRSP plan I've had would automatically switch into whatever default plan the financial institution had after some time.

Do you remember where they are? Sunlife, Manulife etc. I would call them directly and see what the status of your account is. Once you find out you can decide to transfer it to another bank/institution if you want to consolidate.
That's the problem. I don't remember. I know Great West Life is one of them. So I guess I just blindly call Sun Life and Manulife to see if my previous employer used them I guess? They probably ask me some security questions to verify my identity first.
Deal Addict
User avatar
May 11, 2014
4448 posts
5200 upvotes
Iqaluit, NU
Call the HR department directly. If you are talking directly, you would have someone you are talking to directly.
They should have records or at least be able to indicate the provider of the benefit plan at the time.

Make sure you hold onto the information of your plan at each workplace so at the very least if you need to access plans later in life you have the information in place.

There are databases to look up on lost pension monies as well.
https://business.financialpost.com/pers ... d-cost-you
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Sask Pension Plan Upto $6600/yr in Credit Card spending on RRSP contributions
http://forums.redflagdeals.com/sask-pen ... ns-2167222
Sr. Member
Aug 20, 2015
514 posts
301 upvotes
Toronto
BananaHunter wrote: That's the problem. I don't remember. I know Great West Life is one of them. So I guess I just blindly call Sun Life and Manulife to see if my previous employer used them I guess? They probably ask me some security questions to verify my identity first.
I wouldn't blindly call them, I would just call the ones you know. For the ones you odn't I would just do as the other poster suggested and contact the companies HR department.
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User avatar
Nov 19, 2004
8887 posts
1826 upvotes
Cambridge, ON
Check your tax slips?
[OP]
Deal Fanatic
Sep 23, 2007
5061 posts
1155 upvotes
I sorted it out. For anyone who ever have/had this issue, look up your email history. Search all the major plan administrator like Manulife, Sun Life, Desjardin, Great West Life. Chances are good you signed up to be notified by email at some point in the past. If you don't have the plan # and member #, it's ok. Call them and give them your name. They will ask you security questions to validate if you have an account with them.
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Mar 25, 2012
1858 posts
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Kelowna
BananaHunter wrote: I sorted it out. For anyone who ever have/had this issue, look up your email history. Search all the major plan administrator like Manulife, Sun Life, Desjardin, Great West Life. Chances are good you signed up to be notified by email at some point in the past. If you don't have the plan # and member #, it's ok. Call them and give them your name. They will ask you security questions to validate if you have an account with them.
Glad you got it sorted out, and that's a good initial strategy. I don't think your strategy of blindly calling various DC plan administrators' and enquiring if you had an account managed by them was was a bad one; however, as noted above, I think doing what you said above first and then calling the company's HR department second would be steps to take first.

Cheers,
Doug

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