Pension transfer out—Criteria
Time limits associated with pension transfers
You must begin the pension transfer process by submitting a request for estimate within the time limits as prescribed in the agreement, or within one year from the date a Pension transfer agreements (PTA) is signed between your former and current employers; whichever is later. Please note that an estimate can only be provided if a PTA exists.
The following criteria allow you to determine whether you are eligible to take advantage of a PTA:
- You are a participant under your current employer's pension plan when you make the estimate and transfer request;
- You were subject to the Public Service Superannuation Act (PSSA); have ceased to be employed with the federal public service and have not received a return of contributions or any other benefit in respect of the service to be transferred;
- You sign and forward your application to transfer within the time limits prescribed in the agreement.
If you have left the federal public service before reaching two years of continuous service, you may still be able to take advantage of a PTA.
There are no age restrictions applicable to the PTA provision. However, since the actuarial calculation for a pension transfer takes your age into consideration, proof of age is required before the funds are transferred. If there is no proof of age documentation on file, Pension Centre will request a copy of your birth or baptismal certificate.
A medical examination is not required with respect to the transfer of funds out of the PSSA under a PTA.
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