Wants to balance RRIFs

Zoomer | January 1st, 2006

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.

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