Starting June 14, 2021 – To make things easier, the redemption of a gross amount in a guaranteed interest fund (GIF) will now be the same as the gross amount requested.
Applicable interest, fees and taxes will be deducted automatically.
Remember that before, in the calculation method, interest was added to the gross amount. Our computer systems have been modified in this regard.
Documentation update
To reflect this news, the Policies and Procedures Guide and the redemption form (F51-153A-2) have been updated. They will be available in the Advisor Centre document centre in the next few days.
Action required
- If you have versions of form F51-153A-2 dated before June 2021, please destroy them immediately.
Important! Even if you use an old version of the form and the gross amount is requested, the withdrawal will be processed using the new calculation method.
Questions?
Customer Service, Individual Savings and Retirement
- 1-844-442-4636
- savings@ia.ca
