# Moving RRSP withdraw to non-registered account



## 1980z28 (Mar 4, 2010)

In 2018 i will not have a income only dividends from non registered account,
I will start to draw down my RRSP into the non-registered account

I have 8 years to go until OAS and CPP

Is there a best way to do this?


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## Eclectic12 (Oct 20, 2010)

Perhaps you mean the dividend income from the non-registered account won't be enough to owe taxes?

Dividends paid to a non-registered account *are* income, which will be adding to whatever income the RRSP withdrawal adds.

For example, have $20K eligible dividends paid means reporting income of $20K x $1.38 = $27,600 or so. 
Withdraw $30K from the RRSP then the total income will be $27,600 + $30,000 = $57,600.

The dividend tax credit for the eligible dividends will mean the taxes due will be less than if the $57,600 was interest or employment income.


(Don't forget to check the fees for the RRSPs as most have a withdrawal fee.)


Not sure if this is the best way to go ... unless you are sure that at some point in the future, all sources of income will mean the OAS clawback. Even then, unless the RRSP withdrawal fits mostly in the TFSA or is almost completely spent, the RRSP withdrawals may end up increasing the non-registered account's income. 

Going back to my example, where one was paid $20K in eligible dividends this year - rolling the $10K into eligible dividend paying stock may mean next year's income has an additional $400 in eligible dividends paid.


Cheers


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## heyjude (May 16, 2009)

It’s a good idea to draw down on your RRSP once you are in a low tax bracket. It’s easy to set up, but you will have to talk to a person at your financial institution. You can simply withdraw what you need (taxes will be withdrawn before you get your hands on the money*) once a year and pay a fee ($50 or so) each time, or you can set up an RRIF, which will usually not incur fees. You don’t have to put all your RRSP money into the RRIF, just what you need for the next several years. When that pot is empty you can start again.

* This page shows the taxes that will be deducted by the financial institution. 

http://www.taxtips.ca/rrsp/withholdingtax.htm


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## pwm (Jan 19, 2012)

Some things to bear in mind about RRSP withdrawals: 

1). The entire amount is deemed to be "excess amount" so withholding tax will apply to the total value deregistered. (Unlike a RRIF where only the amount above the minimum is considered excess.) That's 10% to $5,000, 20% between $5,000 and $15,000, and 30% over $15,000. 
2). There will likely be a fee which there is not for a RRIF. (True for TDDI. Not sure of other firms).
3). You will not be eligible for income splitting from an RRSP. You need to be 65, and it needs to be a RRIF to be eligible.


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## GreatLaker (Mar 23, 2014)

This article has some great info on which accounts to draw from in retirement to minimize taxes:
Which Account Should I Draw First In Retirement?

Generally you will pay less tax now by withdrawing from your non-registered account first. Withdrawals from RRSP/RRIF are taxed as other income at your highest marginal rate, whereas non-registered withdrawals are taxed at the capital gains rate (half the rate of other income) and on the gains only.

The complication comes later when you may pay more tax. Mandatory RRIF withdrawals may push up your tax rate, and also cause OAS clawback. If a spouse passes away, then all the $ becomes the property of the surviving spouse which may push up mandatory withdrawals and OAS clawback. Hard to model accurately because we don't know what investment returns and life span will be. So you may want to withdraw some funds from your tax deferred accounts (RRSP/RRIF) now to lower your future tax amount.

The trick is that you may be best off by paying somewhat more tax now to avoid even more tax later. Your objective should not be to minimize taxes. Your objective should be to withdraw the maximum from your portfolio for a given estate size, or conversely to maximize your estate for a given withdrawal while you are living.


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## milhouse (Nov 16, 2016)

Just to tag on since it's a topic I'm interested in too...

There seems to be advantages withdrawing from a RRIF account instead directly from an RRSP (ie RRSP withdrawal fees and withholding taxes). 

Is it practical to initially transferring only a portion, instead of all of your RRSP funds to a RRIF account? I'm contemplating that as a way to reduce the initial required minimum RRIF withdrawals. Would you typically still incur an RRSP withdrawal fee if you are transferring to a RRIF account with the same institution?


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## Eclectic12 (Oct 20, 2010)

Pretty sure I have seen posts from others who have started the RRIF early, with a portion of the total RRSP. 

In regards to transfers, most fee schedules I have checked say that where the transfer is within the same group, transfer fees are waived. It is a good question to ask to get confirmation.


Cheers


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## Dilbert (Nov 20, 2016)

I have been told that if you go the RIF route, you will be then entitled to a pension tax credit from the CRA. This is a very interesting topic as I will be in exactly this position soon.


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## milhouse (Nov 16, 2016)

Eclectic12 said:


> Pretty sure I have seen posts from others who have started the RRIF early, with a portion of the total RRSP.
> 
> In regards to transfers, most fee schedules I have checked say that where the transfer is within the same group, transfer fees are waived. It is a good question to ask to get confirmation.
> 
> Cheers


Thanks for the response Eclectic.



Dilbert said:


> I have been told that if you go the RIF route, you will be then entitled to a pension tax credit from the CRA. This is a very interesting topic as I will be in exactly this position soon.


Unfortunately for me, I think you have to be 65+ to be able to claim the pension tax credit on RRIF income.


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## pwm (Jan 19, 2012)

Right. I forgot to mention that in my post. Yes, it needs to be RRIF withdrawal, and you need to be 65 to get the pension income amount. Same requirements as the pension income splitting. Not only that, but if you split the income from the RRIF with your spouse he/she also gets the $2,000 pension amount. The couple gets $4,000.


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## gardner (Feb 13, 2014)

This is a topic I have been contemplating and I have some questions about RRIFs. I am looking to start drawing down my RRSP (into non-registered accounts) during early retirement. I will be tuning the exact amount to withdraw according to the other income that occurs in that year, with a goal to keep the overall tax rate under 25%. I pictured waiting until late in the year when most CGs and income is known, then working out an amount that would land me at, say, 25% overall payable tax and then withdraw that amount from my RRSP and re-invest it non-registered. I've used the calculators to work out that this would be on the order of $40K/yr until age 90, but would vary from year to year.

Does a TD RRSP/RRIF support the mechanics of this? Can I decide in December that I want $38,496 out and move that money out in one go before the end of the year?
In early retirement, at 55yrs or so, can I use an RRIF this way, even though it is not "pension" and I cannot do income splitting with it?
I assume RRIFs have income tax deducted at source. Is that so? Is there a TD1-style method for changing the deduction amount?
When the CRA comes asking for instalment payments, is there any point in telling them that the income is all coming in December and that I don't need to pay instalments before the income occurs?


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## Eclectic12 (Oct 20, 2010)

milhouse said:


> Thanks for the response Eclectic ...


Hopefully someone with more direct experience will comment.

In the meantime, Taxtips says part of an RRSP can be converted. The article also lists a situation to convert some/all of the RRSP to a RRIF before age 65 as when one can avoid enough RRSP withdrawal fees. It reads to me that age 65 as the lower limit is to take advantage of the pension income tax credit and pension income splitting.
http://www.taxtips.ca/rrsp/convertrrsptorrif.htm


Cheers


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## 1980z28 (Mar 4, 2010)

Eclectic12 said:


> Perhaps you mean the dividend income from the non-registered account won't be enough to owe taxes?
> 
> Dividends paid to a non-registered account *are* income, which will be adding to whatever income the RRSP withdrawal adds.
> 
> ...


You are bang on Dividends will be about 22k from non registered

My wife and i will have ( wife only worked about 10 hours a week for the last number of years always been 1 income family ),,,,personal credits will remove tax from this 22 k of income

So was thinking of withdraw from RRSP to be in small tax bracket and add it to the non-registered every year until gone


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## RBull (Jan 20, 2013)

1980z28 said:


> You are bang on Dividends will be about 22k from non registered
> 
> My wife and i will have ( wife only worked about 10 hours a week for the last number of years always been 1 income family ),,,,personal credits will remove tax from this 22 k of income
> 
> So was thinking of withdraw from RRSP to be in small tax bracket and add it to the non-registered every year until gone


I think you're on the right track. First off any registered withdrawals should probably go to your and your wife's TFSA's =11K/yr, before unregistered, if you're not doing or planning this now. You can withdraw dividends paid there once a year or as desired, and replace this amount plus your 5.5K each in the next year. You also should be considering your other income future income sources like OAS, CPP so that you can "smooth" taxes over time. That is make sure you're taking enough out now from registered to offset the amount of future govt pensions and adjust future withdrawals down accordingly. If you aren't you need to think about overall long term tax implications- the "smoothing". Ideally needs some software modeling to look at all the scenarios. I could probably benefit from that too.


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## RBull (Jan 20, 2013)

Eclectic12 said:


> Hopefully someone with more direct experience will comment.
> 
> In the meantime, Taxtips says part of an RRSP can be converted. The article also lists a situation to convert some/all of the RRSP to a RRIF before age 65 as when one can avoid enough RRSP withdrawal fees. It reads to me that age 65 as the lower limit is to take advantage of the pension income tax credit and pension income splitting.
> http://www.taxtips.ca/rrsp/convertrrsptorrif.htm
> ...


Yes, whatever part of RRSP you want can be converted and can be added as desired later. Withholding taxes are zero if the RRIF or LIF is minimum withdrawal allowed based on age formula. ie @ age 57 3.03%, 58 3.13% etc http://www.taxtips.ca/rrsp/rrif-minimum-withdrawal-factors.htm

65 is the lower limit unless RRSP or part of is converted to life annuity, which most folks won't. Doing so at any age qualifies. 

RRSP withdrawal costs vary by institution and account size it seems. Mine are free at RBC and I've done 23 in the past 3 years. Also some institutions seem to withhold tax based on cumulative annual withdrawals as I think was meant earlier upthread. At RBC they are calculated for each individual withdrawal amount. Very simple process- same as transferring money between accounts online - CDN $ or US$ or stocks in kind (needs cash too for tax withholding). LOL, except less goes into the other account (tax withholding factor).


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## RBull (Jan 20, 2013)

gardner said:


> This is a topic I have been contemplating and I have some questions about RRIFs. I am looking to start drawing down my RRSP (into non-registered accounts) during early retirement. I will be tuning the exact amount to withdraw according to the other income that occurs in that year, with a goal to keep the overall tax rate under 25%. I pictured waiting until late in the year when most CGs and income is known, then working out an amount that would land me at, say, 25% overall payable tax and then withdraw that amount from my RRSP and re-invest it non-registered. I've used the calculators to work out that this would be on the order of $40K/yr until age 90, but would vary from year to year.
> 
> Does a TD RRSP/RRIF support the mechanics of this? Can I decide in December that I want $38,496 out and move that money out in one go before the end of the year?
> In early retirement, at 55yrs or so, can I use an RRIF this way, even though it is not "pension" and I cannot do income splitting with it?
> ...


RBC person here.....I haven't done it yet but I know you can change RRIF deduction amount, based on my fathers counsel. Minimum withdrawal = no withholding tax. I do one lump sum annually from a LIF. No issue with CRA but much less than you're talking about and if that's your minimum withdrawal- nicely done!!


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## RBull (Jan 20, 2013)

milhouse said:


> Just to tag on since it's a topic I'm interested in too...
> 
> There seems to be advantages withdrawing from a RRIF account instead directly from an RRSP (ie RRSP withdrawal fees and withholding taxes).
> 
> Is it practical to initially transferring only a portion, instead of all of your RRSP funds to a RRIF account? I'm contemplating that as a way to reduce the initial required minimum RRIF withdrawals. Would you typically still incur an RRSP withdrawal fee if you are transferring to a RRIF account with the same institution?


I answered some above. I have a LIF(RRIF equiv) and RRSP and withdraw from both. Sure you can transfer what makes sense for your plan and that's why I started minimum (smaller balance LIF) withdrawals since I knew I would make RRSP withdrawals from now on. RRIF withdrawal = no fee. RRSP withdrawal fees vary or are free (RBC Royal Circle) I had no transfer fee. They like it stays in same institution.


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## 1980z28 (Mar 4, 2010)

I think you're on the right track. 

That is great,,,i have enough cash to cover the next 8 years of TFSA contributions ,,i have always maxed it out


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## milhouse (Nov 16, 2016)

RBull said:


> I answered some above. I have a LIF(RRIF equiv) and RRSP and withdraw from both. Sure you can transfer what makes sense for your plan and that's why I started minimum (smaller balance LIF) withdrawals since I knew I would make RRSP withdrawals from now on. RRIF withdrawal = no fee. RRSP withdrawal fees vary or are free (RBC Royal Circle) I had no transfer fee. They like it stays in same institution.


Thanks RBull. Actually, that's the other thing I'm trying to plan out. I've got a DC pension that I will convert to a LRSP and eventually to a LIF at age 55 so I can do the one time 50% unlocking.


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## OnlyMyOpinion (Sep 1, 2013)

Heads I win, tails I lose. 
Spending my tax-deferred assets now to win with higher gov't benefits later. Die in my 60's or 70's and my wife & estate lose.


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## gardner (Feb 13, 2014)

RBull said:


> if that's your minimum withdrawal


Oh no. I would be 55 only and I am looking to maximize RRSP/RRIF withdrawal in the period when I have no other income, in order to get the tax liability out of the way. There is no statutory minimum here, only an amount that will make the best use of a low income period.


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## RBull (Jan 20, 2013)

milhouse said:


> Thanks RBull. Actually, that's the other thing I'm trying to plan out. I've got a DC pension that I will convert to a LRSP and eventually to a LIF at age 55 so I can do the one time 50% unlocking.



You're welcome. Good stuff. 

I converted my DC plan that I had for 10 years into a LIRA around age 44. I just converted that to the LIF earlier this year at age 57 (retired 3.5 yrs ago). No unlocking available on my provincial plan but size of LIF fine to give me a small $$ base with minimum withdrawals.


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## RBull (Jan 20, 2013)

gardner said:


> Oh no. I would be 55 only and I am looking to maximize RRSP/RRIF withdrawal in the period when I have no other income, in order to get the tax liability out of the way. There is no statutory minimum here, only an amount that will make the best use of a low income period.


Got it. I am doing that exact thing now and "probably" will for another 7 yrs before CPP/OAS for me & spouse @65. I won't eliminate future tax liability then but just smooth over time as drawdown anticipated to take ~25+ yrs.


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## RBull (Jan 20, 2013)

1980z28 said:


> I think you're on the right track.
> 
> That is great,,,i have enough cash to cover the next 8 years of TFSA contributions ,,i have always maxed it out


Excellent.


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## RBull (Jan 20, 2013)

OnlyMyOpinion said:


> Heads I win, tails I lose.
> Spending my tax-deferred assets now to win with higher gov't benefits later. Die in my 60's or 70's and my wife & estate lose.


I understand and can relate.


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## Eclectic12 (Oct 20, 2010)

gardner said:


> ... I assume RRIFs have income tax deducted at source. Is that so?


Depends on whether the total RRIF withdrawal exceeds the minimum withdrawal amount.

Staying at or under this means no withholding tax is deducted while going over means that a blend of withholding tax is deducted at source, by the financial institution (FI). I say "blend" as for example, an RRSP withdrawal of $10K is going to have a higher withholding tax taken than a $10K withdrawal for the RRIF that has only $7K being over the minimum. 

The minimum withdrawal amount that is not subject to withholding tax is one of the two attractive parts to a RRIF for some (no withdrawal fee where the FI charges for an RRSP withdrawal is the other part).


Cheers


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## heyjude (May 16, 2009)

Eclectic12 said:


> Depends on whether the total RRIF withdrawal exceeds the minimum withdrawal amount.
> 
> Staying at or under this means no withholding tax is deducted while going over means that a blend of withholding tax is deducted at source, by the financial institution (FI). I say "blend" as for example, an RRSP withdrawal of $10K is going to have a higher withholding tax taken than a $10K withdrawal for the RRIF that has only $7K being over the minimum.
> 
> ...


It’s important to be aware that you will have to pay the taxes you owe sooner or later. It will all get reconciled at tax time the next year.


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## gardner (Feb 13, 2014)

heyjude said:


> It’s important to be aware that you will have to pay the taxes you owe sooner or later. It will all get reconciled at tax time the next year.


And if the CRA gets the idea that you are not paying enough as you go along, they will still go ahead and demand instalment payments anyway, and assess penalties and interest if you fail to make the payments. Just sucking it up and going along with the at-source deduction is probably the most sensible approach. The CRAs documentations indicates that you could use a TD1 to tune the at-source deduction to your circumstances, but I don't see that the FIs are necessarily able to handle that.


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## My Own Advisor (Sep 24, 2012)

That seems very smart to me..."...maximize RRSP/RRIF withdrawal in the period when I have no other income, in order to get the tax liability out of the way."

This makes RRSP withdrawals, assuming you have other income in the pipeline, best when you have no other income. I'm not in a financial position to do this yet, but I hope to be.

Folks like RBull (and others on this forum) have some interesting decisions...they have a sizeable RRSP so they need to smooth-out the tax liability with time. This is an excellent problem to have - debating your optimal tax structure in retirement. It seems to me if one can kill off the RRSP, delay CPP and/or OAS AND have non-reg. income in retirement you might have the best of both worlds. You have maximized OAS benefits; deferred longevity risk to the government (in the form of CPP and OAS payments); potentially made your non-reg. income tax efficient; and you have a sizeable portion of your portfolio in fixed income (via CPP and OAS).

Then there's the TFSA - tax-free income to live from based on what your capital produces inside the account. Soon, in a few years, some retirees (as couples) might be approaching $200,000 in tax-free money sheltered away. That's very, very good.


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## Beaver101 (Nov 14, 2011)

My Own Advisor said:


> ...
> Folks like RBull (and others on this forum) have some interesting decisions...*they have a sizeable RRSP so they need to smooth-out the tax liability with time.* This is an excellent problem to have - debating your optimal tax structure in retirement. It seems to me if one can kill off the RRSP, delay CPP and/or OAS AND have non-reg. income in retirement you might have the best of both worlds. You have maximized OAS benefits; deferred longevity risk to the government (in the form of CPP and OAS payments); potentially made your non-reg. income tax efficient; and you have a sizeable portion of your portfolio in fixed income (via CPP and OAS).
> 
> Then there's the TFSA - tax-free income to live from based on what your capital produces inside the account. Soon, in a few years, some retirees (as couples) might be approaching $200,000 in tax-free money sheltered away. That's very, very good.


 ... how do you smooth the tax liability in future years if the tax rates go up?


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## gardner (Feb 13, 2014)

Beaver101 said:


> ... how do you smooth the tax liability in future years if the tax rates go up?


If you think the rates will go up, then you want to get the money out early. On balance though, the rates actually go down a bit over time -- this is because the tax brackets are tied to inflation -- each threshold gradually shifts to a higher income level over time. I reckon the overall best outcome is to spread the RRSP withdrawal over as many years as possible.


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## My Own Advisor (Sep 24, 2012)

Beaver101 said:


> ... how do you smooth the tax liability in future years if the tax rates go up?


Tax rates are not in constant flux. Over decades, there are trends. Short-term, things don't change very fast. 

My point is if you have a sizeable RRSP, you're in control; you're in the driver's seat as to how you want to wind that account down vis-a-vis when to take government benefits.

Meaning, if you have $500,000 in your RRSP - would it any make sense to withdraw $200k of it at once and start taking CPP and OAS at the same time? Probably not.


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## BC Eddie (Feb 2, 2014)

My Own Advisor said:


> That seems very smart to me..."...maximize RRSP/RRIF withdrawal in the period when I have no other income, in order to get the tax liability out of the way."


I am surprized Steve has not commented on this but I think an important point to keep in mind is that this fast drawdown of the RRSP does have a downside. You are giving up the tax free growth of any investments that you have in the RRSP. This may be offset by the tax saved during a low taxable income period but you need to do the math to be sure of this.


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## RBull (Jan 20, 2013)

gardner said:


> If you think the rates will go up, then you want to get the money out early. On balance though, the rates actually go down a bit over time -- this is because the tax brackets are tied to inflation -- each threshold gradually shifts to a higher income level over time. I reckon the overall best outcome is to spread the RRSP withdrawal over as many years as possible.


I agree on the spread out the RRSP. Heavy withdrawal early on equal+ to projected future income from all sources (CPP/OAS) including future RRSP withdrawals.

On the tax brackets this is true federally but not necessarily so provincially.


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## simplesimon (Feb 10, 2015)

BC Eddie said:


> I am surprized Steve has not commented on this but I think an important point to keep in mind is that this fast drawdown of the RRSP does have a downside. You are giving up the tax free growth of any investments that you have in the RRSP. This may be offset by the tax saved during a low taxable income period but you need to do the math to be sure of this.


The counter argument to this is that it's not correct that investments are growing tax free in an RRSP. They are growing tax deferred; any capital gains and dividend growth will be taxed at full rate when they are cashed in with the original principal.

If you do early drawdowns from an RRSP by converting to an RRIF before the mandatory age, and invest those funds in a non registered account, then the capital gains and dividends will receive favourable taxation as compared to growing within the RRSP.

This is part of the math that I'm trying to figure out, and it's only one component of a very complex calculation when considering potential OAS clawbacks, your marginal tax rate now vs the future, splitting pension incomes with spouse, when to start CPP and OAS, and the effect on how much legacy you wish to leave for your children.


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## OnlyMyOpinion (Sep 1, 2013)

The other concern that can't be quantified is the risk of major changes to OAS. OAS comes from general revenues. Federal debt is a growing problem. A growing demographic plans to draw on OAS.

I suggest your scenarios assume zero OAS support. If that causes your forecasts to fail then you need to save more.

I could say the same about the TSFA. The current government already cut it. In their search for additional easy revenue/less loss of revenue, the TSFA program could easily be cut/capped.

The RRSP is the only solid program you can count on of these three. It is a well-established, 'in lieu of DB pension' program, and taxes are eventually paid.

I'm growing and hanging on to mine as long as I can (aside from drawing $2k/yr for the pension credit at age 65). I'll use it for retirement as intended and lose no sleep over governments and OAS/TSFA's.


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## heyjude (May 16, 2009)

We can argue the merits of early or late RRSP withdrawal until the cows come home. There are pros and cons to either approach. And there can always be a ‘gotcha’ in tax policy (like the recent proposed corporate tax grab). 

I retired early, and I don’t like the idea of postponing most of my tax liability until age 71, only to be faced with an enormous tax bill every year after that. So I am cautiously spending down RRSP and LIRA assets to avoid that. YMMV.


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## gardner (Feb 13, 2014)

heyjude said:


> spending down RRSP and LIRA assets


Dunno about your situation, but I personally do not expect to *spend* most of my early withdrawal, but rather mostly re-invest non-registered, but so as to minimize taxes (GC and Canadian dividend)


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## heyjude (May 16, 2009)

gardner said:


> Dunno about your situation, but I personally do not expect to *spend* most of my early withdrawal, but rather mostly re-invest non-registered, but so as to minimize taxes (GC and Canadian dividend)


I do not have a pension, so I need to spend my own money in order to live. If I have a surplus at the end of the year, I put it in my TFSA. Obviously your situation is different. You presumably have regular cash inflow from a pension, and can rearrange your assets at will.


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## Joewho (Nov 18, 2015)

I have run this question back and forth in my mind for awhile and find it difficult to tell whether there would be much advantage. It may be kiff kiff. I don't know if anyone has mentionned, however, the possibility of one spouse dying. Then the tax burden with two large RRSPs would be onerous. it seems to me that this needs to be considered in the conversion, too.
joe


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## OnlyMyOpinion (Sep 1, 2013)

As heyjude said, there are pros-cons. You should model your own circumstances and priorities. 

You're right, if my wife inherits my RRSP/TSFA she'll pay more taxes. I don't consider them onerous or enormous though in the context of doubling her income. I'd sooner that problem than being left with a much reduced income.


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## RBull (Jan 20, 2013)

I'm in the same boat heyjude without pension, although my wife has a DB one. We need the RRSP money to continue our current lifestyle, and I expect/hope to have enough to recontribute some of that to TFSA for years to come. 

OMO, I totally agree with modeling your own situation and that having a greater tax obligation from an inherited RRSP is a pretty good problem to have for the survivor, compared to not having enough money. My wife and I just reviewed this stuff yesterday when I managed to keep her attention on it for a few minutes. I can't see the extra TFSA making any tax difference.


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## My Own Advisor (Sep 24, 2012)

I recognize every situation is different but I think when it comes to getting CPP + OAS, presumably for most retirees they will be getting both at age 65 if not sooner for CPP, it just seems to make sense that if you have a sizeable RRSP or RRSPs - to draw them down early and smooth out taxes over time.

Worst case you put extra money into TFSA so eventually you have an inflation-protected fixed income pension (CPP + OAS) and tax-free income that can be withdrawn based on what your TFSA portfolio yields.

Again, conceivably in the coming few years, for those 60-somethings that saved money for 20-30 years - some retired couples might have close to $200k in their TFSAs. Invested wisely that could easily churn our $8k per year in dividends/distributions and never touch the capital. That's at least one month in the sunny south every year for couples - living great.


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## RBull (Jan 20, 2013)

MOA, no convincing needed here on the RRSP earlier draw down plan which is the path we're on! 

Although I think it's not a one size fits all solution.


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## My Own Advisor (Sep 24, 2012)

For sure, not for everyone; agreed.


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