How do restrictions and vesting work?

Restrictions are designed to help employees achieve their retirement goals. This means that payroll contributions made by you or the member to their Registered Retirement Savings Plan (RRSP) account or Deferred Profit Sharing Plan (DPSP) cannot be withdrawn while they are employed.

Withdrawal restrictions do not apply when a member makes voluntary contributions from their bank account or on contributions made to their Tax-Free Savings Account (TFSA). You have the option to allow a withdrawal based on financial hardship – you will need to authorize such a withdrawal before the funds will be released by the plan administrator.

Vesting only applies to employer contributions to a DPSP.  If a member terminates their employment before they vest in the plan, they forfeit the DPSP and the account value will go back to you the month following the member's termination.