Shortened Life Expectancy

If you face a shortened life expectancy, you can apply to HOOPP to withdraw a lump-sum payment based on HOOPP's shortened life rules.

You can do this if a doctor licensed in Canada gives a medical opinion that you have a life expectancy of less than two years.

In addition to the medical opinion, you must get your qualifying spouse's permission (if you have a spouse) to withdraw the funds. That's because your spouse, under provincial law, is entitled to benefits upon your death, and must agree to the withdrawal. If the spouse agrees, he or she forfeits the right to spousal benefits upon your death.

Both you and your spouse should seek independent legal and financial advice before making a decision to forfeit your spouse's entitlements.

An application to withdraw funds can be made either before or after you begin collecting your pension. HOOPP will tell applicants how much money is available for withdrawal.

For details on how to apply, contact HOOPP.