PC Interest Plus RRSP

[theSPOOLER]

I just noticed that PC is also offering an Interest Plus for RRSPs. I searched RFD, but didn't find anything. It seems like a no brainer for anyone with the PC Savings First RRSP to move everything over (3% vs 4%), assuming you have more than $1K. Is there an fear that the normal online account transfer between RRSPs at PC will result in a taxable withdrawl?

[vickyvictoria]

Transferring from a Savings RRSP A/C to a term RRSP within the sam FI is not considered a withdrawal... there should also be no admin fees either, b/c they are gaining by retaining your business and locking in your money for a set period of time.

You could transfer out your RRSPs to another FI's RRSP a/c and it's likely you will pay approx $25 transfer out fee - again not a withdrawal, just a transfer from one rrsp to another at a different FI (usually wouldn't do this unless the funds have matured or are in a rrsp savings a/c)

Taxable withdrawal would be applicable if you are taking the funds out of the RRSP... withholding tax will vary depending on the amount you withdraw.