Redemption Due to Shortened Life Expectancy In Newfoundland and Labrador Sample Clauses

Redemption Due to Shortened Life Expectancy In Newfoundland and Labrador. Nova Scotia, New Brunswick, Ontario, Manitoba, Alberta, British Columbia, and according to federal pension legislation, the contractholder may request redemption of the value of the contract associated with the SSQ LIF plan, in whole or in part (only in whole in Nova Scotia), as a lump sum payment or a series of payments, provided a qualified medical practitioner certifies in writing to SSQ that the contractholder’s life expectancy will be shortened considerably due to a disability or illness, in compliance with all requirements and according to the provisions set out in applicable pension legislation. In New-Brunswick, the payment may only be made if the eligible spouse of the contractholder has waived the joint life pension entitlement. The contractholder must thus include with the redemption application, a written statement from the eligible spouse confirming the spouse’s consent to the redemption made under such circumstances in accordance with applicable pension legislation, by filling out the Form approved under this legislation. In Ontario, the contractholder must include along with the redemption application, a written statement from the eligible spouse confirming the spouse’s consent to the redemption made under such circumstances in accordance with applicable pension legislation, by filling out the Form approved under this legislation. This consent is not required if the contractholder declares not having a spouse, if there is separation from bed and board on the date the redemption application is signed, or if the contractholder provides a statement certifying that the contributions invested in the SSQ LIF do not originate, directly or indirectly, from pension benefit credits related to any employment of his. The consent of the contractholder’s current spouse is also not required when the contract premiums associated with the SSQ LIF originates from retirement benefits of the contractholder’s ex-spouse as a result of the dissolution of their marriage or conjugal relationship. In Newfoundland and Labrador, if the contractholder has an eligible spouse when the application is made, SSQ will proceed with the redemption request only if the contractholder’s spouse has waived the entitlement to a survivorship annuity in the manner prescribed in the applicable legislation. In Manitoba, if the contractholder has an eligible spouse when the application is made, SSQ will proceed with the redemption request only if the contractholder’s spouse and the contra...
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Redemption Due to Shortened Life Expectancy In Newfoundland and Labrador the contractholder may request redemption of the value of the contract associated with the SSQ LRIF plan, in whole or in part, as a lump sum payment or a series of payments, provided a qualified medical practitioner certifies in writing to SSQ that the contractholder’s life expectancy will be shortened considerably due to a disability or illness, in compliance with all requirements and according to the provisions set out in applicable pension legislation. In Newfoundland and Labrador, if the contractholder has an eligible spouse when the application is made, SSQ will proceed with the redemption request only if the contractholder’s spouse has waived the entitlement to a survivorship annuity in the manner prescribed in the applicable legislation.
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