That was the rumour, but as has been mentioned here no one has been able to find proof of that, NPS has said that it isn't the case, and someone above said they knew someone who cashed out after more than ten years, so all signs are pointing to it not being accurate. If you have proof of it being locked in after 120 months, please share it. It's important info to North Americans, at least.
I grew up in B.C., went to uni and worked in Alberta, Manitoba and Ontario.(Was delusioned about Vancouver. Will consider Victoria as the default option.)Regina looks affordable and different enough to pique my interest. Or,.... Montreal?If you have info on a cool Mexican locale or the like then spill the chili. Us Canucks can only stay 6 months in Mexico though, 6 months in the U.S.; i ain't against border hoppin'!
Wouldn't it be important info to all people and not just Canadians and Americans? Though as I understand it, Korea doesn't even deduct or offer pension at all to South Africans. (It really sucks for them unless they are just here for a year or two.) Some other countries, it gets deducted but they can't or didn't use to be able to cash it out at all. (Though that may have changed now. Aussies?) As far as I know, North Americans, at least, always had the choice of cashing it out or keeping it in to build it up and collect a pension when we are old.
Doesn't Calgary have a high unemployment rate the last few years?
Living in a small city like Regina or Saskatoon is not for many.
Calgary has potential more than anywhere in Saskatchewan. The current pandemic has hurt everything everywhere.Again if you have family in Saskatchewan or a job lined up go for it. Many people in Saskatchewan are unemployed. Living in a small city like Regina or Saskatoon is not for many.
It may be, but I can only speak for Canada and the U.S. because I know that they can get a lump sum refund. I'm not sure about other countries. So, if it was locked in after 120 months I know that would be a good thing for North Americans to know.
Fair enough. Left mine in so I can get something each month when I am old. Though there is still another form of severance - pension that can be cashed out. I use to cash it out yearly, but think around 2012, the government put a stop to that. Another type of pension severance. A friend cashed his out this past summer for a housing deposit. Apparently the one exception they will let you use for. But, he did say the government does pay some interest on it. (A kind of forced savings.) Though I do still get the renewal allowance every years.