how long to withdraw rrsp
As with the HBP, the maximum amount you're allowed to withdraw is $20,000, and only $10,000 can be withdrawn each year. Repaying an RRSP withdrawal from the Lifelong Learning Plan doesn't have to start until five years after the first withdrawal.Once your repayments begin, you will have 10 years to pay the money back to your RRSP before the opportunity to replace these funds is lost entirely.ecause you have not always made the maximum allowable contribution, you have also accumulated $30,000 in additional contribution room. If you withdraw the $15,000 and want to re-contribute that $15,000 at a later date, the re-contribution will reduce your $30,000 unused contribution room down to $15,000.