Can I name my common-law partner as my RRSP beneficiary in Ontario?

Yes. You can designate any person, including a common-law partner, as the named beneficiary of your RRSP. When a beneficiary is named directly on the plan, the RRSP proceeds typically bypass your estate and pass directly to that person, which can speed up the transfer and reduce probate exposure.

A key tax benefit applies if the beneficiary is a "qualifying survivor" under the Income Tax Act, which includes a common-law partner recognized at the federal one-year threshold. In that case, the RRSP can roll over to the surviving partner on a tax-deferred basis — the funds transfer to the survivor's RRSP without triggering immediate income tax. Without that qualifying status, the full RRSP balance would be treated as income in the deceased's final tax return, which can result in a very large tax bill.

Keep your beneficiary designation up to date, especially after major life changes. A designation made years ago in favour of a former partner or family member remains effective unless you revoke or update it. An estates or tax lawyer can advise on structuring your registered plans for your particular situation.