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Group RRSP with employer

Hi,I live in Ontario. I may have to file before Bill-12 becomes law. However, I tried to withdraw my $30000 RRSP
to pay some debts but although not technically locked in the group plan is in my employers name and they said it was their policy to not allow any withdrawals until retirement. We will be filing jointly. Do you think it is exempt?

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One Response to “Group RRSP with employer”

A licensed trustee said...

Before you actually file you’ll want to provide your trustee with a copy of your Group RRSP plan – if the plan says that you cannot withdraw the money then neither can your trustee (trustees have the same rights that you do under the plan).

So, ask your payroll department for a detailed copy of the Group plan so that you can let your trustee have a look at it before you file.