TFSA/RRSP - Can I take my money out of my group savings plan while I am still with SAIT? - Pension

Thank you for reaching out to us.

Yes — you can sign into your Canada Life account and arrange the withdrawal online. Funds withdrawn from your RRSP will be taxed and there is a $50 withdrawal fee.

Funds withdrawn from your TFSA are not taxed – the first two withdrawals in a calendar year are free. Thereafter, the fee is $25.

This video explains how early withdrawals can affect your savings.

For more information, please visit SAITNOW.

If you have further specific questions, please email Employee Questions