Severance Pay to RSP question

Looking for some clairification on a severance pay to RSP scenario that I can't seem to get a straight answer to.

Last year (2014) I contributed to my maximum RSP deduction limit (eg. $10K).  On Feb 1/2015 I am expecting a severance allowance for my loss of employment.  If I elect to move that allowance (say $10K) to my RSP, will this be considered an over contribution to my RSP and therefore be subject to fees???  Or if I move that allowance to my RSP and NOT claim it until next year, would I then be clear of any penalty fees?

Thanks in advance.


I would suggest talking to an accountant on the options available. The type of severance may make a difference, or how it is handled by your employer.

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