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RBC: Locked-In RRSPs and Your Options
March 13, 2021
10:26 am
Norman1
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As part of a marketing campaign, RBC is offering an 18-page PDF guide Locked-In RRSPs and Your Options that explains locked-in registered plans:

https://www.rbcroyalbank.com/services/retirement/lira-s-or.html

One can answer "No" to the question "Would you be interested in receiving financial advice, at no obligation, from an advisor?" and still download the guide.

March 13, 2021
12:00 pm
Londonguy
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Thanks, Norman. It's handy having all the LIRA info in a single document

March 13, 2021
1:05 pm
Dean
Valhalla Mountains, British Columbia
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Norman1 said

As part of a marketing campaign, RBC is offering an 18-page PDF guide Locked-In RRSPs and Your Options that explains locked-in registered plans:

https://www.rbcroyalbank.com/services/retirement/lira-s-or.html

. . .

That's ⬆ 'EXCELLENT' ❗

I have a small (~ $30K) Locked-in RRSP based in Ontario, that I would like to completely transfer over to my regular RRSP. According to that PDF Guide Book (Pages 10 & 11), I can do just that, using a two step process :

    Step 1.) Unlocking of funds and transferring to RRSP/ RRIF or lump sum.
    Step 2.) Unlocking of small plan balances.

Thanks Norman,

    Dean

sf-cool " Live Long And Prosper " sf-cool

March 13, 2021
2:00 pm
Londonguy
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Lucky you, Dean. My spouse's account is above the YMPE, so her only choices are a LIF or a Life Annuity for the funds that have to remain in her account after I move the maximum 50% into a RRIF once she becomes eligible. I feel obliged to continue to actively manage her account rather than accept an annuity at these depressed interest rates

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