How, when and how much can you unlock

Unlocking Rules

You have money in a locked-in plan and you would like to access the funds but you have not reached the age of retirement? What are your options? In one word…limited and in some cases almost non-existent. Overall, the government wants the money in your locked-in pension plan to stay and remain there until you retire. That may sound unfair and a bit overbearing and controlling for the government to dictate when how and when you can use money that belongs to you but until the rules are changed we don’t have much choice.

That being said depending on the type of plan you have and under what jurisdiction it is regulated, you may have some options.  All jurisdiction will allow you to take out all the funds in your plan if you meet one of the following conditions:

1. You are no longer a resident of Canada
2. You have been diagnosed with a terminal illness and your doctor estimates that you have less than 2 years to live.
3. You have a low balance in your account (different jurisdiction have different level of what they consider to be a “low balance” and some add a minimum age requirements.

Aside from the above other options that may be available are financial hardship (your annual income is limited), if you have exceptionally high medical expenses or if you face eviction or foreclosure of your primary residence.

Below is a table listing all the different rules by jurisdiction to help you figure out if you meet any of these or use our “can you unlock” tool which will ask you a few basic questions about your situation and will provide you with advice on what you can qualify or strategies to maximise the amount you can unlock. While the calculator is automated, every result is also reviewed by one of your pension unlocking expert to ensure that nothing was missed. If based on your results you qualify for one of the unlocking exemptions or combined strategies, you can hire one of our pension unlocking experts for $149.99 and they:

•  Will ensure that you unlock the maximum that you can based on your situations
•  Fill out all the complicated government forms
• Offer you assistance with your bank and government agencies should you run into any problems
• Provide you with an easy to understand, step by step guide telling you where to send each form,  which forms need to be authorized, and any additional steps you must undertake such as obtaining medical note or proof of eviction etc.

Offer you a guarantee that there will be no mistakes in your forms and guarantee that if you follow our instructions and hire us that you will be able to unlock what our “can you unlock” simulator estimates or your money back.