Wednesday, December 13, 2017 20:22

Financial-Advisor-Video1

Q. Can I use my Company’s RRSP for the Home Buyer Plan?

A.  It would depend. If funds you have with a former employer were a result of a pension with that employer the answer is no. The type of RRSP you now hold is a locked in RRSP. Funds within a locked in RRSP are not eligible to be withdrawn under the Home Buyers’ Plan.
If the plan with your former employer was group RRSP the answer is possibly. We would probably have to make slight changes to the structure of that plan but the likelihood is that yes, the funds would be eligible for the Home Buyers’ Plan.

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