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Application for Withdrawal of Pension Contributions Form |
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Use
Use the Application for Withdrawal of Pension Contributions form if you have terminated from the Pension Plan and
want to withdraw your pension funds from the Plan.
Select the appropriate form on the right side, based on the Member's province of residence.
You must also compete the Declaration
of Applicant on Removal of Funds form. |
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Information Needed to Complete the Form
The Member's personal information is needed to complete the form.
In addition, you must select how you wish to receive your pension funds that are to be paid out.
Your local union must complete its section of the form before you send it to the Plan Administrator.
Please follow the instructions on the form.
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Notes
You can only withdraw your pension funds if you are 'eligible'.
To be 'eligible' for withdrawal, the Member must either:
a) be fully vested and have terminated Union membership for 18 months; or,
b) be fully vested and worked less than 350 hours in the last 2 consecutive Plan years.
If your Pension contributions are 'locked-in', you must complete the Royal Trust Locked-in Funds Form
in addition to this form. If your Pension contributions are
not 'locked-in', you must complete the Direct
Transfer of a Single Amount (T2151) in addition to this
form. The Plan Administrator can tell
you if your contributions are 'locked-in' or not.
Alberta Members Only:
Alberta Members now have an option to unlock up to 50% of
their locked-in pension contributions after leaving an
eligible pension plan. To qualify, the Member must be at least
50 years of age and have written consent from his or her
pension partner. The unlocking option is exercised when funds
from a locked-in retirement account (LIRA) or eligible pension
plan are transferred to a life annuity, life income fund (LIF)
or defined contribution retirement income account (DC-RIA).
Holders of an existing LIF or locked-in retirement
income fund (LRIF) also have the option of unlocking 50% or
the fund's value, but must make their decisions by December
31, 2007. After that date, unlocking can only be done when a
person is opening a new LIF, life annuity or DC-RIA.
Questions on completing the form should be directed to the Plan
Administrator.
Completed forms should be forwarded to the Plan
Administrator. |
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Plan Administrator
NDT Industry Pension Plan Administrator
c/o D.A. Townley & Associates Ltd.
101 – 4190 Lougheed Highway
Burnaby, BC V5C 6A8
Phone: 604-299-7482 or 1-800-663-1356
Fax: 604-299-8136
Email: Pension
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