can I have more then one RRSP account?

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Azeem11
Member since: Apr 10

Posts: 22
Location:
Post ID: #PID

Posted on: 27-04-10 21:45:42

Hi there,

I have 2 questions here I hope I will get a reply on atleast one.
I have a current RRSP that I am contributing on my own for the last 2 years. My current company has invited me to open an RRSP account with one of the financial institutions they work with and they will contribute as well.

My question is can I contribute to 2 RRSP plans? Can I transfer my current RRSP to the one my company will contribute to.

Also I have another account which is now LIRA which I have some money in. I am resident in Ontario and I would like to know when I will be able to access this amount? Also can I transfer this amount to the financial institute which my current company advised to open RRSP with.

Sorry if I am not clear on my questions.

Regards, Azeem

rsbagwell
Member since: Jul 08

Posts: 211
Location: Brampton
Post ID: #PID

Posted on: 27-04-10 23:18:58

Azeem,
Yes you can have two RRSP accounts with different institutions. Just make sure you are not contributing over the limit as set by CRA. You can also transfer money from one account to another. There will be some admin/transfer charges.

For your second question please visit
http://www.fsco.gov.on.ca/ENGLISH/pensions/locked-inaccountchanges.asp#overview

Azeem11
Member since: Apr 10

Posts: 22
Location:
Post ID: #PID

Posted on: 28-04-10 21:31:50

Thank you for your response .

Azeem

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can I have more then one RRSP account?

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