Shortened Life Expectancy Benefits

If you have a shortened life expectancy, you can apply to withdraw the commuted value of your pension any time before retirement without having to sever your employment relationship. The commuted value of your pension is the lump sum you would need today to replace your future pension.

To qualify for shortened life expectancy benefits, you must provide complete medical evidence, from a doctor licensed in Canada, of a life expectancy of less than two years. Your spouse would also need to provide permission because he or she will be forfeiting the right to survivor benefits if you choose this option.

Before applying for this benefit, check with your employer and long-term disability carrier to ensure you'll continue to qualify for medical and long-term disability benefits if you withdraw your pension funds early.