Hi, I am a brit living in Canada and have been for quite some time, but I am considering moving back home to the UK for personal reasons. I have an RRSP with WealthSimple, which if I return back, I understand that I will not be able to contribute to, but I can keep. However, it will be put "on hold" which means that assets can still grow, but any dividends received from the assets will be stored as cash and not reinvested. Doesn't sound like a great option to me.

So I am looking to transfer it to another provider, but want to make sure that whatever I invest in, I won't end up with the same scenario. I assume (perhaps incorrectly) that if I transferred it and bought mutual funds then any dividends paid by the mutual fund would just go into buying more of the same fund(s)?

I am very much of a hands-off investor so I am not after an RRSP where I can make lots of changes or buying/selling. Would be quite happy with a balanced (lowish risk) portfolio that (hopefully) grows over time until I convert it to a RRIF.

I have spoken to someone at TD and another at ScotiaBank and neither were 100% sure about what they were saying,

Any advice would be most welcome.

You can keep it but you are taxed on any growth.