You can transfer up to $10,000 in cash per calendar year into your SPP account from existing RRSPs, RRIFs and unlocked RPPs.
Funds transferred to SPP are subject to all SPP rules including the lock-in provision. This means your transferred funds become part of your SPP account and can only be accessed when you choose a retirement option. Since these are direct transfers between plans, there are no tax implications.
As part of the transfer process, you will be asked for investment instructions directing funds to the balanced fund and/or the short-term fund. Your financial institution may charge a fee for transferring these funds to SPP; SPP does not charge you a fee to transfer money.
To transfer to SPP from an unlocked RPP, please contact SPP toll-free at 1-800-667-7153 or email@example.com.