Applies To:
- All Portfolio Managers, Advisors, Wealth Planners, and support staff.
- Eligible account types: LIRA accounts.
You can submit a 50% Unlocking (Alberta) request from a client’s CRM Contact Record. Follow the instructions below to ensure all eligibility requirements, and legislation information are accurately completed.
When to Submit a 50% Unlocking (Alberta) request:
- The client is a resident of Alberta and meets the eligibility criteria for 50% Unlocking under provincial pension legislation.
- The client’s locked-in account is governed by Alberta's LIF (Life Income Fund) or LIRA (Locked-In Retirement Account).
- The client has submitted the required supporting documentation, including proof of eligibility for unlocking.
How to Submit a 50% Unlocking (Alberta) Request
To submit a 50% Unlocking (Alberta) request, you'll use the Service Extension on the client's CRM Contact Record. When submitting the request, there are two distinct submission methods and workflows: Wet Signature, which involves downloading the pre-populated document and getting it physically signed. Electronic Signature, which automatically generates the required forms and sends them to the client through DocuSign.
Although both methods are valid, we strongly recommend using Electronic Signature whenever possible for real-time tracking, reduced errors, and faster turnaround times.
Learn more about Wet Signature Flexibility
- Navigate to the Client's CRM Contact Record
- Go to the Servicing Tab
- Select "Account Administration → Special Account Requests
- Select "50% Unlocking (Alberta)" as your request type
- Select the "From Account"
- Select the "To Account"
- Select the appropriate submission option, either Wet Signature or Electronic Signature.
- Select the Unlocking details that apply to the client
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Depending on your selected transfer method, you may need to provide additional details such as the Brokerage Account Number, attach a Void cheque, or enter the Complete Mailing Address.
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- Review and Submit
- Once you confirm the details, click Submit to create the service request ticket
Please note: After submitting your request, the system will automatically create a ticket and send the paperwork directly to your client via DocuSign for electronic signatures.
If you select the wet signature option, you'll need to download the pre-populated forms for your client to sign manually.
After Submitting the Request
A new service request ticket will be created. You can locate it:
- In the Right-Side Panel of the client's CRM Contact Record under Tickets.
- In the Account Administration Pipeline, where you can track the progress and confirm when the request is completed.
Processing Times
- Typically 5-7 business days after the ticket has been submitted and completed any applicable review.
Important: Please note, once the 50% Unlocking (Alberta) request has been completed for the LIRA account, you must then submit a Transfer request under the Cash and Security Management tab to rollover the remainder of the account to a LIF account.