Individuals who qualify under specific circumstances of financial hardship may apply for special access to the money in their Locked-in Retirement Accounts, Life Income Funds, or Locked-in Retirement Income Funds.
Effective January 1, 2014, the rules for financial hardship unlocking have changed.
You must complete and submit your application for financial hardship unlocking to the financial institution which holds and administers your locked-in account.
There are four Forms; one for each category of financial hardship. All applications must be made based on one of these four categories. You can make applications under different categories but must use the form that applies to that category:
Financial Hardship Unlocking – FORM FHU 4 - Application for Low Expected Income
Financial Hardship Unlocking – FORM FHU 3 - Application for First and Last Months’ Rent for a Principal Residence
Financial Hardship Unlocking – FORM FHU 2 -Application for Arrears of Rent or Secured Debt (Mortgage) on a Principal Residence
Financial Hardship Unlocking – FORM FHU 1 - Application for Medical Expenses, including Renovations to a Principal Residence for Medical Reasons
You must make your application on the form for the calendar year in question. You cannot use previous years’ forms in another year.
Additional Resources on access to locked-in accounts: