If you become disabled
If you have a physical or mental disability that cause you to end your active plan membership, you have the right to transfer the balance of your account to an authorized transfer instrument. Some instruments, for example a life income fund (LIF) or an annuity contract, will allow you to draw an income.
Furthermore, if your disability reduces your life expectancy:
- your plan may allow you to receive a refund of the amounts credited to your account in a single or in several payments. Consult your plan summary or contact the plan administrator to find out whether or not your plan offers this options and, if so, the conditions that apply.
- a transfer of your account balance to locked-in retirement account (LIRA) will allow you to obtain a cash payment.
The qualifications to be considered disabled under your pension plan and the qualifications under the Québec Pension Plan may be different.
To find out more...
You can consult our section on disability.