# Retirement allowance to RRSP



## Trust (Feb 24, 2011)

I will be receiving a retirement allowance from my employer. I have worked for them since 1980 and I believe that I can transfer into my RRSP $2,000 for each year or part of a year before 1996. That would equal $32,000.


However, I am unsure if the following CRA statement means I can transfer more of the retirement allownace:

The CRA also states that $1,500 for each year or part of a year before 1989 of that employment in which none of your contributions to the RPP or deferred profit sharing plan (DPSP) were vested in the employee's name when you paid the retiring allowance. To determine the equivalent number of years of vesting, refer to the terms of the particular plan. The number can be a fraction.

Can I transfer an additional 9 x $1500 = $13,500?

I have contributed to a Defined Benefits Plan since 1980 if that is relevant. 

Thanks in advance;

Trust


----------



## OhGreatGuru (May 24, 2009)

Your Employer's Pay & Benefits office should tell you how much is eligible for transfer;
A DB pension plan would be an RPP


----------

