If you become disabled

Medical certificate

If a physician has certified that a physical or mental disability has reduced your life expectancy, you can withdraw, while you are a member of the plan, the balance in the locked-in and not locked-in accounts of your simplified pension plan (SIPP).

Defer taxation

A cash withdrawal from your locked-in account is taxable, unless it is transferred to a retirement savings instrument that allows tax deferral, such as an RRSP.

Attention ...

The definition of "disabled" under your SIPP may be less strict than the definition under the Québec Pension Plan.

To find out more...

You can consult our section on disability.

Other useful link

Flash Retirement

Practical corner

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