Pension guidance by topic

Unlocking

Under the locking-in provisions of the PBSA, money payable to a member of a plan can generally only be used to provide retirement income, even if the member leaves the plan. Pension benefits are required to be locked-in after two years of continuous membership in a plan; however, some plans may have a shorter locking-in period. There are certain circumstances in which pension funds may be unlocked.

For federally locked-in funds, the financial intermediary that holds the locked-in account may be able to assist in determining applicable unlocking options and in filling out required forms.

These forms are not submitted to OSFI. OSFI does not approve individuals’ forms or provide individual assistance in filling out the forms.

Year Title Publication type Plans Topics
2012 Financial hardship unlocking Frequently asked questions
  • Defined benefit plans
  • Defined contribution plans
  • Locked-in retirement funds
  • Unlocking
2021 Form 1 - Attestation Regarding Withdrawal Based on Financial Hardship [ PDF 223.22 KB ] Form
  • Defined benefit plans
  • Defined contribution plans
  • Locked-in retirement funds
  • Unlocking
2024 Form 1 and Instructions – Attestation regarding withdrawal based on financial hardship Guide
  • Defined benefit plans
  • Defined contribution plans
  • Locked-in retirement funds
  • Unlocking
2021 Form 2 - Attestation Regarding Spouse/Common-Law Partner [ PDF 941.83 KB ] Form
  • Defined benefit plans
  • Defined contribution plans
  • Locked-in retirement funds
  • Unlocking
2021 Form 3 - Attestation of Total Amount Held in Federally Regulated Locked-in Plans [ PDF 871.47 KB ] Form
  • Defined benefit plans
  • Defined contribution plans
  • Locked-in retirement funds
  • Unlocking
2013 Unlocking due to Shortened Life Expectancy – Physician’s Certification Past newsletter articles
  • Defined benefit plans
  • Defined contribution plans
  • Pooled registered pension plan
  • Unlocking
2008 Unlocking for Non-Residents Guidance
  • Defined benefit plans
  • Defined contribution plans
  • Locked-in retirement funds
  • Unlocking
2021 Unlocking Forms Frequently asked questions
  • Defined benefit plans
  • Defined contribution plans
  • Locked-in retirement funds
  • Unlocking
2017 Unlocking from restricted life income funds Frequently asked questions
  • Defined benefit plans
  • Defined contribution plans
  • Locked-in retirement funds
  • Unlocking
2024 Unlocking funds from a pension plan or from a locked-in retirement savings plan Frequently asked questions
  • Defined benefit plans
  • Locked-in retirement funds
  • Unlocking
2024 Unlocking Options Frequently asked questions
  • Defined benefit plans
  • Unlocking