人气， 问个RPP transfer to RRSP的问题
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tomato_z
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A few questions have to ask before answer your questions.
Your RPP is federally regulated RPP or Ontario RPP.Your RPP plan is a DB plan or DC plan. How long you have been a member of this plan?
If you have federally regulated RPP, and you have been in the plan for more than two years. Your pension funds are locked in, therefore, you are only allowed to transfer to a locked in RRSP. However, if the total transaferable value is less than 20% of YMPE, you can unlock it by transfer to a RRSP or take it as cash.
If you have Ontario RPP, and you have been in the plan for more than 2 years. You can transfer your pension funds to a LIRA. However, if your funds value is less than 20% of the YMPE or the benefit is less than 4% of the YMPE, you can take it as cash or transfer it to a RRSP.
Regardless, federally or Ontario plan, if you have been the member less than 2 years, you can withdraw it as cash or transfer it to a rrsp。
If the plan is a DC plan, 100% of the value can be transfer to your RRSP. There should not be any PAR adjustment as PA has been calculated annually (you can find it on your T4). If it is a DB plan, it is possible that your pension value is over the prescribed amount set by CRA. Therefore, you will have to transfer some to a locked in and some to be taken as cash or to transfer to a RRSP. The part you take as cash or RRSP will be considered as your income this year. The plan will send you a T4A at the end of February of next year, a lump sum income should be reported in box 108 (honestly, I don't remember all the box # by heart). Meanwhile, your plan administrator will re-calculate your PAR, to release your RRSP room if the value is less than your total accumulated PA amount. If it is less, there is no further adjustment to your RRSP room.
Anyways, you should request a termination option package from your plan administrators. It will provide the detailed info on transfer. If you have already received a termination notification from your employer and your plan is a single employer plan, by regulation, the administrators will provide you the termination opinion package within 30 days, and you have 90 days to elect.
Your RPP is federally regulated RPP or Ontario RPP.Your RPP plan is a DB plan or DC plan. How long you have been a member of this plan?
If you have federally regulated RPP, and you have been in the plan for more than two years. Your pension funds are locked in, therefore, you are only allowed to transfer to a locked in RRSP. However, if the total transaferable value is less than 20% of YMPE, you can unlock it by transfer to a RRSP or take it as cash.
If you have Ontario RPP, and you have been in the plan for more than 2 years. You can transfer your pension funds to a LIRA. However, if your funds value is less than 20% of the YMPE or the benefit is less than 4% of the YMPE, you can take it as cash or transfer it to a RRSP.
Regardless, federally or Ontario plan, if you have been the member less than 2 years, you can withdraw it as cash or transfer it to a rrsp。
If the plan is a DC plan, 100% of the value can be transfer to your RRSP. There should not be any PAR adjustment as PA has been calculated annually (you can find it on your T4). If it is a DB plan, it is possible that your pension value is over the prescribed amount set by CRA. Therefore, you will have to transfer some to a locked in and some to be taken as cash or to transfer to a RRSP. The part you take as cash or RRSP will be considered as your income this year. The plan will send you a T4A at the end of February of next year, a lump sum income should be reported in box 108 (honestly, I don't remember all the box # by heart). Meanwhile, your plan administrator will re-calculate your PAR, to release your RRSP room if the value is less than your total accumulated PA amount. If it is less, there is no further adjustment to your RRSP room.
Anyways, you should request a termination option package from your plan administrators. It will provide the detailed info on transfer. If you have already received a termination notification from your employer and your plan is a single employer plan, by regulation, the administrators will provide you the termination opinion package within 30 days, and you have 90 days to elect.
tomato_z
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这个表不一定要用CRA的，银行很多都用自己的。政府在几年前不再提供这个表的印刷后，就放开了各个银行的表格的限制。如果你是用t2151,实话说，很多银行所谓的经理人都不会填。他们很多只会填自己银行的表。
番茄同学的回复已经很明确了。我想补充的是，只要你在PLAN里超过两年，就不会有这个烦恼了。我当年是有点点背。
Good luck.
tomato_z
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在2012年前，确实存在2年的vesting rule。 在2012年7月1日以后都是立马vesting的（省级和联邦级的都是）。所谓vesting就是你entitle to employer and employee contributions. 楼主如果现在才terminate她／他的employment，pension plan已经vesting了，所以不用担心vesting rule。现在两年的限制主要是locked in 的问题。locked in的意思就是在到退休年龄前，这个钱不能被提取出来。只能用来转到retirement product里去。当然如果你有一定的特殊情况是允许提出来的。比方说,financial hardship, short life expectancy, 或者non-Canadian resident for more than 2 years。这些如果你找熟悉一点的银行经理人，应该能操作。
tomato_z
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不会吧。看起来你的RPP是Ontario 的 plan 而且是DB plan。根据CRA的条例，过了他们set的prescribed amount，那个amount 只许转到unlocked 的plan 里。你转到的是LIRA 是个locked in 是不会出具T4的。你肯定收到是t4，不是t10(用来调节你的RRSP room的？）Thanks!
The thing is RPP was transfered to LIRA. but issued TA4, the whole pension amount. become income this year. How to deal with it?
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The former employer issued the T4A, Box 18. the whole amount pension. I thought it must be wrong. is it?
