Where an individual pension plan (IPP) as defined in Reg. 8300(1) is established and a plan member is age 71 in the effective year of the plan, would CRA allow the qualifying transfer which is required as part of a past service contribution (typically satisfied by a transfer of the required asset value from a registered retirement savings plan) to be satisfied by the transfer of the required asset value from a registered retirement income fund (RRIF)? CRA responded:
No. A transfer of property from a RRIF to a defined benefit provision of a registered pension plan (including an IPP) is not a qualifying transfer for purposes of [Reg.] 8303(6) … .