CRA confirms that a RRIF may not make a Reg. 8303(6) qualifying transfer to a RPP in connection with a past service event

Reg. 8303(6) contemplates qualifying transfers from, for example, an RRPS or a money purchase provision of a registered pension plan, to a defined benefit provision of a registered pension plan (including an individual pension plan) to fund past service benefits, for example, when additional periods of pensionable service are credited. CRA confirmed that no transfer of property from a RRIF to a defined benefit provision of a registered pension plan can occur pursuant to Reg. 8303(6).

Neal Armstrong. Summary of 7 May 2024 CALU Roundtable Q. 8, 2024-1007121C6 under Reg. 8303(6).