Pension question, Canada
Can I unlock a locked-in pension after leaving Canada?
OSFI's guidance on unlocking funds from a federally regulated pension plan or locked-in retirement savings plan states that a person can unlock on non-residency grounds once they have ceased to be a resident of Canada for at least two calendar years. FSRA (Ontario's pension and financial services regulator) states that the owner of an Ontario locked-in account may apply to unlock and withdraw all the money two years after departing Canada, provided they also obtain a CRA determination of non-residency and complete FSRA's Form 5.
What to do next
- Find out which province or federal regime your old employer's plan was registered in.
- Note the date you ceased to be a resident of Canada.
- Run our free check to see which other countries may hold a pension in your name.
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Tell us where you worked. The free check shows which countries may hold a pension for you, and which can be ruled out and why. No sign in, no charge.
Run the free checkQuestions people also ask
Is the rule the same in Alberta?
Alberta's Superintendent of Pensions Interpretive Guideline on unlocking states that, unlike Ontario and the federal regime, there is no requirement for the plan administrator or financial institution to confirm the person has been a non-resident for any specific minimum period before unlocking on non-residency grounds.
Do you give advice on what to do?
No. We identify where a pension is likely held and the official route to it, and we name each source with the date we read it. We do not give financial, tax or legal advice.