New Rules on Withdrawals from Locked-In Retirement Savings Accounts
(8/25/2010) Effective immediately, Canadians who hold investments in certain federally regulated locked-in retirement-savings accounts will find it easier to withdraw funds from those accounts prior to retirement.
Generally, taxpayers who are over the age of 55 or who are facing financial hardship as a result of low income, substantial medical bills, or disability-related costs will be able to transfer funds from a locked-in account to a new account, from which funds can be withdrawn.
See details of the rules governing transfers and withdrawals.
More info: FAQ Document
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