Applies To:
- All Portfolio Managers, Advisors, Wealth Planners, and support staff.
- Eligible account types: LIRA accounts.
You can submit a LIRA to LIF rollover request (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.
How to Submit a LIRA to LIF Rollover Request for Alberta Clients
To submit a LIRA to LIF Rollover Request (50% Unlocking (Alberta)), 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: Manual Submission, which involves upload a scanned or physically signed document, and Straight-Through Processing (STP), which automatically generates the required forms and sends it to the client through DocuSign.
Although both methods are valid, we strongly recommend using Straight Through Processing whenever possible for real-time tracking, reduced errors, and faster turnaround times.
Learn more about Straight-Through Processing.
How to Submit a LIRA to LIF Rollover Request using Manual Submission
Choose this method if your client has already completed and signed the required authorization forms.
- 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 Manual Submission
- Enter the Unlocking Amount
- Upload Required Documents:
- You'll need to attach a signed Application for One-Time 50% Unlocking from a LIRA Form. To add an attachment, click +Add file and upload the file from your computer.
- You are able to click the Alberta Locked-In Plans link to view the possible forms to attach, depending on the type of LIRA rollover.
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The possible forms are:
Form 7: Pension Partner Waiver to Permit Up to 50% Unlocking From a Pension Plan on Establishment of a Life Income Type Benefit Account or Life Income Fund
Form 10: Pension Partner Waiver to Establish a Life Income Fund from a Locked-in Retirement Account
Form 11: Pension Partner Waiver of Entitlement to a 60% Joint and Survivor Annuity from a Locked-in Account
Form 12: Pension Partner Waiver of Entitlement to a Death Benefit From a LIRA
Form 13: Pension Partner Waiver to Permit Unlocking From a Locked-in Product Due to Shortened Life Expectancy or Non-Residency
Form 14: Pension Partner Waiver to Permit Up to 50% Unlocking from a Locked-in Retirement Account on Establishment of a Life Income Fund or Transfer to a Life Income Type Benefit Fund
Form 15: Pension Partner Waiver to Establish a Life Income Fund from a Pension Plan
Form 16: Pension Partner Waiver of Entitlement to a Death Benefit After Establishment of a Life Income Fund
Form 23: Application to Unlock Funds due to Financial Hardship
- Review and Submit
- Once you confirm the details, click Submit to create the service request ticket.
Tip: Ensure that the One-Time 50% Unlocking from a LIRA Form is signed and properly filled out to avoid processing delays or rejections.
How to Submit a 50% Unlocking (Alberta) Request using STP
With STP, Optimize automatically generates and emails the necessary forms to your client for electronic signing through DocuSign.
- 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 Straight-Through Processing
- 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: Once you submit the request, the ticket will be created and the client will be automatically sent the paperwork by DocuSign. The ticket cannot progress further until the client reviews the paperwork and electronically signs through DocuSign.
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.
How to Submit a LIRA to LIF Rollover Request for Non-Alberta Clients
Applies To:
- All Portfolio Managers, Advisors, Wealth Planners, and support staff.
- Eligible account types: LIF accounts.
You can submit a 50% Unlocking (Non-Alberta) request from a client’s CRM Contact Record. Follow the instructions below to ensure all eligibility requirements, and legislation information are accurately completed.
How to Submit a 50% Unlocking (Non-Alberta) Request
To submit a 50% Unlocking (Non-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: Manual Submission, which involves upload a scanned or physically signed document, and Straight-Through Processing (STP), which automatically generates the required forms and sends it to the client through DocuSign.
It will be the same process as the 50% Unlocking (Alberta) Request, just varying forms per province.
Although both methods are valid, we strongly recommend using Straight Through Processing whenever possible for real-time tracking, reduced errors, and faster turnaround times.
Learn more about Straight-Through Processing.
How to Submit a 50% Unlocking (Non-Alberta) Request using Manual Submission
Choose this method if your client has already completed and signed the required authorization forms.
- Navigate to the Client's CRM Contact Record
- Go to the Servicing Tab
- Select "Account Administration →Special Account Requests
- Select "50% Unlocking (Non-Alberta)" as your request type
- Select the "From Account"
- Select the "To Account"
- Select Manual Submission
- Enter the Unlocking Amount
- Upload Required Documents:
- You'll need to attach a signed Unlocking form specific to the province. To add an attachment, click +Add file and upload the file from your computer.
- You'll need to attach a signed Unlocking form specific to the province. To add an attachment, click +Add file and upload the file from your computer.
Here are possible Unlocking Forms, segregated by province:
Ontario:
- Form 5.2 - Application to withdraw or transfer up to 50% of the money transferred into a Schedule 1.1 LIF
New Brunswick:
- Form 3.2 - Record of Transfer of Locked-in Retirement Funds
British Columbia:
- Form 1 - Spouse’s Waiver to Permit Unlocking
- Form 2 - Spouse’s Waiver of 60% Lifetime Survivor Benefit
- Form 3 - Spouse’s Consent to Transfer to a LIF
- Form 4 - Spouse’s Waiver of Beneficiary Right To Benefits In A Pension Plan, Locked-In Retirement Account, Life Income Fund or Annuity Before Pension or Annuity Payments Start
Nova Scotia:
- Form 15 - Request for Transfer
Pensions governed by Federal Legislation:
- Form 2 - Attestation(s) regarding Spouse/Common-Law
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.