dogfaceman
New member
Hello all.
I'm a federal public servant and am planning on retiring at around age 50 without a full pension. This is more than 15 years away. I have about 4 years of service.
I have two amounts available from a previous job, an $11k RPP amount that is locked-in and a $6k amount of past contributions that can be given to me in cash or transferred to my current pension or RRSP.
What is the best option for me here? Should I transfer all of the $11k RPP amount to my current RPP, or put it into RRSPs and purchase index funds?
Should I cash out the $6k and pay half in tax, transfer it to my RRSPs and purchase index funds, or transfer it to my current RPP? I should add I don't really "need" the cash-in-hand at the moment.
Thanks in advance.
I'm a federal public servant and am planning on retiring at around age 50 without a full pension. This is more than 15 years away. I have about 4 years of service.
I have two amounts available from a previous job, an $11k RPP amount that is locked-in and a $6k amount of past contributions that can be given to me in cash or transferred to my current pension or RRSP.
What is the best option for me here? Should I transfer all of the $11k RPP amount to my current RPP, or put it into RRSPs and purchase index funds?
Should I cash out the $6k and pay half in tax, transfer it to my RRSPs and purchase index funds, or transfer it to my current RPP? I should add I don't really "need" the cash-in-hand at the moment.
Thanks in advance.