Transferring

You can transfer certain types of payments to a registered retirement savings plan (RRSP) or from one registered plan to another, such as a registered pension plan (RPP), registered retirement income fund (RRIF), specified pension plan (SPP), a deferred profit sharing plan (DPSP), or a pooled registered pension plan (PRPP).

Topics 

• Transferring retiring allowances (severance pay)
• Amounts paid from an RRSP or RRIF upon the death of an annuitant
• Registered pension plan (RPP) lump-sum payments
• Deferred profit sharing plan (DPSP) lump-sum payments
• Commutation payments from your RRSP
• Property from an unmatured RRSP
• Registered Retirement Income Fund (RRIF) - Transfer of excess amounts and property
• Specified pension plan (SPP) lump-sum payments
• Pooled registered pension plan (PRPP) transfers

Generally, amounts you transfer directly to your RRSP do not affect your RRSP deduction limit. However, you may need to include an amount in income and claim an offsetting deduction.

You can also use certain payments from an RRSP or a RRIF to buy yourself an eligible annuity.

If you transfer the amount to your RRSP, you must be 71 or younger at the end of the year in which you transfer the funds. For more information, see RRSP options when you turn 71.