As each Canadian pension jurisdiction has different regulations on special releases such as shortened life, small amount, financial hardship, non-residency and partial unlocking, RP Success has developed a quick reference guide for 8 of the provincial jurisdictions (excluding Quebec) and Federal PBSA 1985.  Links are provided within the document to the various provincial and Federal web-sites that will provide further detailed information.  This reference guide is not intended to replace manuals provided by the credit union's registered plans service provider.

View LIRA and LIF Quick Reference Sheet

Release due to Small Amounts

The following calculation worksheet will assist in determining whether funds under the Manitoba pension jurisdiction can be released due to small amount based on the value of all Manitoba LIRA and LIF contracts held by an annuitant.  This worksheet is not meant to replace any manual calculation requirements of your credit union's trustee or internal policies. 

View Manitoba Release due to small amount worksheet for 2016

Maximum LIF Payment Calculation

Life Income Funds have maximum payment restrictions and must be calculated at the time of purchase and each January thereafter.  The following excel worksheet has been developed to assist in confirming system and manual calculations.

Manitoba   - NEW LIF Purchase in 2016  - Maximum LIF Payment Calculation

                    - EXISTING 2016 LIF Maximum Payment Calculation

Federal PBSA 1985 - 2016 Maximum LIF/RLIF Payment Calculation (new or existing)

Ontario - NEW LIF purchase in 2016 Maximum LIF Payment Calculation

               - EXISTING 2016LIF Maximum Payment Calculation

Release Due to Financial Hardship

To assist in the calculation of the PBSA 1985 Schedule V - Form 1 Attestation Regarding Withdrawal Based on Financial Hardship the following calculation work sheet is available.

View PBSA 1985 Release Due to Financial Hardship worksheet for 2016

RP Success is not liable to any party for any direct, indirect, special or consequential damages that may arise from using this information.

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