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If my ex-spouse transfers his RRSP and LRSP to my name do the funds stay in the same type of accounts?



Our response:

While we try to provide general information to help answer your investing questions, we do not regulate registered plans, such as registered retirement savings plans (RRSPs) and locked-in retirement savings plans (LRSPs), or the rules associated with these plans. The Ministry of the Attorney General in Ontario has information on division of property related to separation and divorce. Speak to a legal representative to understand how division of property would apply to your personal situation.

The rules that govern RRSPs are set out in the Canadian Income Tax Act which is administered by Canada Revenue Agency (CRA). You can get more information on transferring RRSPs on breakdown of marriage on the CRA’s website. LRSP rules are set out in the Pension Benefits Acts and regulations are administered by the Financial Services Commission of Ontario (FSCO) – Pensions. Learn more on FSCO’s website.

The Ontario Securities Commission (OSC) is an independent Crown corporation that is responsible for regulating the capital markets in Ontario. As a regulatory body, the OSC administers and enforces compliance with the provisions of the Securities Act (Ontario) and the Commodity Futures Act (Ontario). Specifically, we work to protect investors and foster fair and efficient markets by making and monitoring compliance with rules governing the securities industry in Ontario.

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