Hello CDs,

I have recently started contributing to RRSP and my employer matches my contributions upto a certain percentage. When i go for online banking i see 2 seperate accounts setup - one is where i regularly contribute and the other is where the employer's contribution is shown whcih hapens twice a year.

Here is what i am confused with - I am being told that should i need to use HBP and withdraw my RSPs - I will not be able to withdraw the employer contribution portion.

I have been told about this by my bank. My question here is - if i cant use the money for HBP and it is locked in - until when does it stay locked in. LEts say should i have a need for this money prior to my retirement - would there be any way i can get access to these funds !? Please know if any one would have any information in this regard.

Thanks in Advance.

Company contribution has a "hold" period. Usually 1 or 2 yrs. It's company based. Talk to your HR and they should be able to provide you the actual hold period in your case.
Any contribution that your company makes, stays under your account, but matures only after completion of that "hold" period. Till that time, it's yours, but not actually yours
Under your RRSPs, there should be "Matured" and "Non-matured" divisions as well. The "Non-matured" catetory is the one on "hold". Once matured, you can moved, withdrawn, transfered that amount as appropriate.

BTW, if an employee leave the company, he looses the "non-matured" portion.

Quote:

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Originally posted by sville
Under your RRSPs, there should be "Matured" and "Non-matured" divisions as well. The "Non-matured" catetory is the one on "hold". Once matured, you can moved, withdrawn, transfered that amount as appropriate.
portion.

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Quote:

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Originally posted by Cougar
This also makes me wonder - If i loose my job do i loose all the company contribution as well !?

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