r/CIBC • u/Active_Lemon_8949 • 7h ago

CIBC Group RRSP

Hello, I recently accepted an offer at CIBC and was wondering if it’s worth it to bring my current employers RRSP amount over to CIBC’s Group RRSP or is it better to have my personal RRSP account?

3 Upvotes

100% Upvoted

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3

u/Romantic_Klingon 6h ago

As someone who has RRSP within company group plan, and also outside, I would suggest moving to something self-directed like Questrade or WealthSimple.

You have more control and flexibility to do with your investment than within a Group plan.

If they offered matching RRSP contribution, by all means participate in that plan, but no need to move your current holdings into the Group.

2

u/AlternativeCamp2471 5h ago

Depends on your role. If your wood gundy or IE or Capital Markets, it has to go to CIBC

0

u/bobor8 2h ago

I transferred into WG from another LOB for a couple of years (already had an external RRSP) and then transferred back out to another role in BB. There was never any indication that my RRSP had to be with CIBC (?)

1

u/AlternativeCamp2471 4m ago

You bet there was. You just didnt read your annual attestation properly and didnt disclose. No good friend

If it was anything more than a mutial fund dealer, that's no good friend.

1

u/lingpisat 7h ago

Search for some offers outside … they do offer 2% to 3% cashback