How to unlock your PER
A retirement savings plan is an effective tool for anticipating a drop in income when you stop working and smoothing out tax burdens over time. In partnership with MeilleurTauxPlacement.
By The New Obs
Six exceptional situations allow for early release of the PER, which is in principle blocked until the legal retirement age. ANDRII YALANSKYI/GETTY IMAGES
When can you withdraw funds from your retirement savings plan? The PER, a key product for anticipating a drop in income when you stop working, is generally frozen until the legal retirement age. However, six exceptional situations allow for early release: serious disability, death of a spouse, termination of unemployment benefits, over-indebtedness, liquidation, or the purchase of a primary residence.
There is no maximum age for liquidating a PER. Upon retirement, savings can be received as a lump sum, a life annuity, or a combination of the two. The applicable tax regime depends on the type of payment (voluntary, tax-deductible or not, employee savings) and the withdrawal method. The PER remains a flexible investment: even after retirement age, it can be kept and continue to generate income. For working people, contributing to a PER allows…
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