Small Plans Sample Clauses
Small Plans. Age 55 or Over: You may apply to either withdraw all of the Locked-In Funds or transfer all of the Locked-In Funds to an RRSP or to an RRIF, if at the time the Application is signed by You:
i) You are at least 55 years of age; and
ii) the total value of all LIRAs, Old LIFs, New LIFs, and LRIFs owned by You is less than 40% of the Year’s Maximum Pensionable Earnings for the current Year, (that value is to be determined in accordance with the most recent fund or account statement given to You, provided that statement is dated within the year prior to the date You sign the Application).
Small Plans if Age 55 or Over: You may request the withdrawal of all of the Locked-In Funds, or the transfer of all of the Locked- In Funds to an RRSP or RRIF that is not locked-in under the Federal Pension Laws, if:
i) During the Year of Your request, You turn age 55 or older;
ii) You certify that the total value of the following owned by You
A. all LIFs, Restricted LIFs, Locked-In RSPs and Restricted LSPs; and
B. all life income funds, restricted life income funds, locked-in RSPs and restricted RSPs governed by the Pooled Registered Pension Plan Act (Canada), is less than or equal to 50% of the Year's Maximum Pensionable Earnings for the current Year; and
iii) You provide Us with a completed copy of:
A. the Attestation Regarding Spouse/Common-law Partner (Form 2 in Schedule V under the Federal Pension Regulations); and
B. the Attestation of Total Amount Held in Federally Regulated Locked-In Plans (Form 3 in Schedule V under the Federal Pension Regulations); and/or
C. any other form that may be required by the Federal Pension Regulations from time to time