Thanks ... at times I've used too much detail but it seemed appropriate.That was well explained.
I believe HOOP is one of the better paying pensions so the spousal RRSP may be a better choice. Another poster said that the pension splitting makes the spousal RRSP less of a benefit ... but IMO, the pension splitting is more likely to be changed in the future than the Spousal RRSP. I don't know enough about the pension splitting as most of my co-workers have talked about the spousal RRSP.I have strictly been using a TFSA.
My income 90-95k with a DB pension (HOOP)
Wife income 65-70k with a DC pension (Sunlife)
With the spouse's income lower as well as the DC pension subject to investment fluctuation ... I would want to be using it.Certainly income will be less at retirement. My line of thinking is that i wanted to pay less tax at retirement and keep more $, hence why we are using the TFSA. And also loved the agility of the TFSA ie can withdraw anytime.
Perhaps I need to look at the #s again.
Another choice to investigate/consider ... can you retire early, delay starting the pension and still receive all the medical benefits?
If so, this would give a window to withdraw from the RRSP at a lower income level.
Don't forget to include any taxable investments as well as consider CPP ... unless you have been able to put everything into registered accounts.