Gold Key Benefits Group Edmonton
4732 91 Ave NW, T6B 2L1 Edmonton, AB, Canada

There are three forms that must be completed as a part of your claim. 1. Claimant's Statement: this is information about you, your medical history, and your claim. 2. Employer's Statement: This provides information about your duties, your pay, and a description of the work you do. ... 3. Physician's Statement: This includes information about your condition, treatment, and the possibility of returning to work.

If your illness or injury will prevent you from returning to work, we suggest you submit your claim by the 90th day of the disability. This allows sufficient time for review and will prevent any late entrant penalties.

So, what should you do if you need access to emergency funds? It's better to withdraw from a TFSA than an RRSP, as you can replace the funds without penalty. But be sure to replace the amount you withdrew, so as not to lose the investment growth.

Did you know when you withdraw early from an RRSP you permanently lose the contribution room you originally used to make your deposit? This reduces the potential value of your RRSP at retirement.

What happens when you withdraw from your RRSP early? One of the main disadvantages is you lose the tax-sheltered compounded earnings. In other words, as soon as you make a withdraw, those funds are now considered taxable.