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Q. A few years ago, I joined a public sector employer with a hybrid defined-benefit, minimum-guarantee pension plan that will allow me to move RRSP contributions made elsewhere, into the employer’s plan.
I have been told that the transferred money would have to remain locked-in until I retire or leave the organization. The total value of the pension plan, including the contribution of employees, employer and returns, is around $2 billion.
Recently, I compared the last 10 years of performance of my RRSP investments with my employer’s DB pension returns, and I noticed the DB pension plan would have offered around 36% more accumulated growth on the original starting capital.
I have 10 to 12 years until retirement and I am seriously considering having my RRSP money transferred to the pension plan. Should I be taking anything else into consideration before making this decision?
–Jaspal
A. Jaspal, great that you are paying attention to your investments and doing a double-check before making a big change…
I have been told that the transferred money would have to remain locked-in until I retire or leave the organization. The total value of the pension plan, including the contribution of employees, employer and returns, is around $2 billion.
Recently, I compared the last 10 years of performance of my RRSP investments with my employer’s DB pension returns, and I noticed the DB pension plan would have offered around 36% more accumulated growth on the original starting capital.
I have 10 to 12 years until retirement and I am seriously considering having my RRSP money transferred to the pension plan. Should I be taking anything else into consideration before making this decision?
–Jaspal
A. Jaspal, great that you are paying attention to your investments and doing a double-check before making a big change…
