Wants to balance RRIFs

Question: I have two RRIFs. One is my own while the other is a spousal RRIF.

Is it possible to transfer an amount from the larger RRIF to the smaller RRIF to affect a rebalancing of both? – G.G.

Gordon’s answer: No, you can’t do it. A RRIF, like an RRSP, is considered to be personal property and non-transferable.

The only way a transfer could take place is through marriage breakdown or death.

Do you have a money question you’d like to ask Gordon? Send it along and then check out our Q&A section regularly to see if it was chosen for a response. Details at http://www.50plus.com/money/askgordonpape.cfm Sorry, we cannot send personal answers.