Transfer to an LIRA or LIF

Under the RREGOP and the PPMP, you can file an application to transfer amounts to a locked-in retirement account (LIRA) or a life income fund (LIF) if you meet all the following requirements:

• Your employment ended at least 210 days ago.
• You are under age 55.
• You have more than 2 years of service, but less than 35.

However, if you leave your job between your 54th and your 55th birthday, you can apply for a transfer within 12 months following the date on which your employment ended.

Under the TPP and the CSSP, you can apply for a transfer of amounts to an LIRA or LIF if you meet all the following requirements:

• Your employment ended at least 210 days ago.
• You are not entitled to an immediate pension.
• You have 10 or more years of service.

However, if you leave your job between your 54th and your 55th birthday, you can request a transfer within 12 months following the date of the end of your employment.

We can transfer the greater of the following amounts:

• the actuarial value of your deferred pension, up to the limits set under the Income Tax Act; or
• your total contributions to your pension plan including accrued interest (under the RREGOP and the PPMP.

If applicable, the actuarial value of any pension credit you have acquired will be added to that amount.

If there is a surplus, we will make the necessary income tax deductions and send you a cheque for the amount. You can then choose to contribute to your RRSP—depending on your contribution limit—in order to recover all or part of the amount deducted. To find out your RRSP contribution limit, refer to your latest notice of assessment from the Canada Revenue Agency.

To obtain a transfer, you must send us your Application for Retirement Pension Under a Public-Sector Pension Plan. We will then send you a reply form entitled Your Options. The document will list your possible benefits. You must complete and return it to us within 30 days following receipt. Please note that the Your Options reply form is uploaded automatically to My Account. You can therefore file it and track your application in your digital file.