Investing

Xfer my SunLife DCP to CIBC

  • Last Updated:
  • Feb 18th, 2021 7:48 pm
Tags:
[OP]
Member
Nov 9, 2006
373 posts
60 upvotes

Xfer my SunLife DCP to CIBC

I am retired ; 55 yrs old
I want to transfer my locked-in Defined Contribution Plan from SunLife to my Spousal RRSP at CIBC Investor's Edge. Is this doable?
If not, should I create a CIBC Inv Edge RRSP acct under my name and then xfer my SL balance to it? Is this doable?
If so, can I withdraw from the CIBC account and incur my current tax bracket taxes? Or is it locked-in until a certain age? How do I get the $ out?

Here is part of my SL statement:
sl rfd.png
2 replies
Deal Expert
User avatar
Dec 12, 2009
19870 posts
7989 upvotes
Toronto
Transfer in kind is possible for RRSP accounts having the same owner. It is pretty straightforward. CIBC would love to see it done and they will do the heavy lifting to make it happen.
̶K̶o̶o̶d̶o̶ ̶$̶4̶0̶/̶6̶G̶B̶
Public Mobile 2016 fall promo, $23/1GB, $38/5GB
Fido $0.00/4GB+tablet
Tangerine Bank, Simplii
Deal Addict
User avatar
Nov 18, 2007
3501 posts
585 upvotes
Valleywood
If it is locked-in, then I would expect that the funds can only be transferred to a LIRA. I am not aware of a Spousal LIRA, so that may not be an option.

Top