RRSP Contribution Room RPP --> Unlocked RRSP
Hi,
In June I switched employers and had to move my RPP. The value of the RPP was ~$4,000 so I was able to unlock it and add it to my personal RRSP. Does this affect my current contribution space?
Edit: should have clarified that the RPP was DC.
Example: Start 2016 with $17,000 in RRSP contribution space. Contribute $13,000 to RRSP and $4,000 to RPP (employer + my contributions). Switch job and move RPP to RRSP. My RRSP now has $17,000 balance. In this case do I have any contribution room left? Or does the $4,000 in RPP adjust next year's contribution room (in which case I would still have $4,000 available for this year)?
Thanks for your help!!
In June I switched employers and had to move my RPP. The value of the RPP was ~$4,000 so I was able to unlock it and add it to my personal RRSP. Does this affect my current contribution space?
Edit: should have clarified that the RPP was DC.
Example: Start 2016 with $17,000 in RRSP contribution space. Contribute $13,000 to RRSP and $4,000 to RPP (employer + my contributions). Switch job and move RPP to RRSP. My RRSP now has $17,000 balance. In this case do I have any contribution room left? Or does the $4,000 in RPP adjust next year's contribution room (in which case I would still have $4,000 available for this year)?
Thanks for your help!!
Last edited by ethanpurdy on Feb 21st, 2017 12:45 pm, edited 1 time in total.