CONDITIONS FOR REDEEMING YOUR RRSP

Phased retirement as of age 50


In order for the Fund to redeem your shares under the “Phased retirement as of age 50” criterion, you must fulfill the following requirements and provide the necessary documents.
Requirements
You must:
Be a salaried employee;
AND
have signed a work-time reduction agreement with your employer calling for a reduction of at least 20% in your regular work schedule until retirement.

Proof required
The Fund’s “Phased Retirement Request” form, including the “Shareholder’s Solemn Declaration” section stating that you have no intention of taking another paid position;
AND
a copy of the agreement with the employer indicating:
- the start date of the phased retirement;
- a reduction of at least 20% in regular working hours and;
- the anticipated date of retirement.
Eligible shares
All shares held for at least two years.
Payment terms and conditions
  • The payment will be equal to the amount of the salary lost during the year or the account balance divided by the number of years remaining until full retirement, whichever is lower.
  • Each year, you must submit a purchase-by-agreement request and show that you are still in phased retirement.
  • You may transfer the funds to another plan.
  • Shares purchased after the beginning of the phased retirement agreement cannot be redeemed under this criterion.
Subsequent acquisition of shares
  • Anytime. However you will no longer be entitled to tax credits.


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