You may transfer all, or a portion of your funds to a registered plan(s) on a tax sheltered basis with a financial institution and/or new employer in Canada.
Transferring My FPP Account to My New Employer
If you are participating in a pension plan with your new employer, contact your new pension plan administrator to determine if they will accept the transfer in of funds from the FPP, a defined contribution pension plan under BC pension legislation.
Your new employer will provide you with the required transfer documents. One of the forms that may be provided is the Direct Transfer of a Single Amount (T2151) Form.
Transferring My FPP Account to My Financial Institution
The funds accumulated in your FPP account may be transferred to your financial institution. Any locked-in funds will remain locked-in, as the Plan provisions will carry over to the new LIRA account, which must be registered under the BC Pension Benefits Standards Act. Any locked-in funds transferred into the Plan will remain under the originating pension legislation.
Contact your financial institution for information about your registered account options and required transfer forms.
For additional information, refer to:
If you are a non-resident and have locked-in funds you can apply to have the locked-in restriction removed from your funds and transfer to an external RRSP. For more information and for the required forms, refer to Living Outside Canada.