Managing your plan
The option to transfer new funds into your plan is no longer available, but your current funds are safe and guaranteed.
As of December 2021, all funds in your Canada RSP or Canada RIF have reached maturity and no longer earn interest. However, your plan will remain accessible to you.
As a plan holder, you can transfer funds from your Canada RSP or Canada RIF to another registered retirement savings vehicle without penalty.
To initiate the transfer, visit your financial institution or RSP administrator.
Contact Customer Service to redeem the funds held in your plan. If you withdraw funds from your Canada RSP or Canada RIF:
- Your withdrawal will be subject to a withholding tax.
Canada RIF owners may choose to count their withdrawal as part of their annual minimum payment for tax purposes.
- You will need to declare the proceeds as income for the year in which they are withdrawn.
Getting your statements
Keep yourself informed of your holdings.
Semi-annual statements for Canada RSP Plan owners are mailed as of:
- June 30
- December 31
Quarterly statements for Canada RIF Plan owners are mailed as of:
- March 31
- June 30
- September 30
- December 31 — includes payment details for the following year