Can I withdraw money from my TFSA, RRSP or DPSP?
You can withdraw money from your TFSA or RRSP, either in part or in full.
It’s important to remember that withdrawing from RRSPs before retirement can result in negative tax implications, while withdrawing from a TFSA before retirement does not. There is a transaction fee to complete a withdrawal.
If your plan includes a DPSP, you can withdraw funds that have been transferred in from another DPSP account. For the portion of your DPSP that your employer is actively contributing to, you can’t make withdrawals while you’re working for that employer, even if the funds are not vested or restricted.