Can you make a transfer from an RESP to a spouse’s RRSP? Sep 1st

Retirement planning getting you down? There are always smart ways to plan the financial aspects of your retirement.
Q. I have an RESP account that I plan to wind down—and I have very little RRSP contribution room, but my wife has quite a lot. I just read this article you wrote for MoneySense about transferring money from an RESP to an RRSP. I thought it was permissible for a subscriber (that would be me in this case) to transfer accumulated income from an RESP to his spouse’s RSP account. Is there a reason you didn’t mention this option for transfers in your article?
A. Thanks for your question, Ralph. The important thing to remember about questions to Ask a Planner is that there may be nuances specific to that reader which make the answer you read online less applicable to your own situation.
In fact, this is an important consideration anytime you are doing online research for a personal finance matter. I have seen information on even government or bank websites that is incomplete, outdated or inaccurate. So, be careful about taking the information you find online as gospel—take it with a grain of salt…

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