Locked Pension Funds in Canada

[S & J 0]

Hi Everyone, I am hoping someone can help me.

I was approved of my greencard here in the US last week.

I have locked in pension funds still in Canada, from where I left my work to move here with my husband.

Does anyone know if I am allow to take those funds out now that I no longer live in Canada?

Any suggestions or information will be helpful?

I have no problems leaving them there until I can retire and then draw upon them but just wondering if I can cash them out?

Thanks

Lana

It depends who you worked for - Federal government - upon proving non-residency for over 2 years you can unlock. The Alberta Government just changed their pension act last year so that once you can prove non-residency they will unlock it. Not sure about the other provinces - I think BC is two years also.

[cmartyn 0]

Ontario recently went to 2 years. Just have to phone your broker and say the word. The money xfers from your LIPP right into your RRSP. Voila.

[cdancer 0]

yes you can apply to get it when the time is right! after working 30 years in Canada its nice to know

I canget it back no matter what country I am living in!

Cheers! to that!

ote name='Len_and_Bren' date='Feb 7 2008, 10:58 AM' post='1563608']

So I have a question -- will we ever get the $$$$ the lovely Canadian government took away for the CPP when we retire? Or will they just pocket it?