In addition to the loss of income, separations often result in unexpected and unforeseen costs and expenses. In such a case, you could redeem your RRSP+ if you meet the eligibility requirements.
The shareholder must show that they are in a position of decreasing income caused by the dissolution of a union which occurred less than a year agoAND
must show a decrease of at least 30% in the shareholder’s family income for a minimum period of two consecutive monthsAND
must have liquidated all redeemable investments (including any other RRSP), the purchase of the shares being the last resort.
The Fonds de solidarité FTQ formAND
proof of the dissolution of a union which has occurred less than a year ago
- confirmation of the dissolution of the union by a notary, a lawyer or a mediator
- proof of the change in marital status with the Canada Revenue Agency
- divorce judgment
- agreement on corollary relief
record of all gross family income for a full month prior to the decrease in incomeAND
recent record of all gross family income during the period of decrease in income for two full consecutive monthsOR
proof of absence of income for two full consecutive months, as applicableAND
proof that redeemable investments have been liquidated or cannot be redeemed.
All shares held. Shares purchased after the dissolution of the union cannot be redeemed under this criterion.
Subsequent share acquisition:
One year after purchase by the Fonds de solidarité FTQ.
Disbursement terms and conditions:
A maximum of two disbursements paid out at the latest during the year following the dissolution of the union, up to a maximum net amount of $15,000 for a single dissolution of union.