All new working members must complete a RSP Application Form and Privacy Form and email it to [email protected] without delay.

Application and Privacy Forms are included in the Forms section - Sign-up Kit (Employer Contribution Plan)

Types of Accounts
The Member can open a personal or spousal (RSP) account(s). If the Member's spouse wants to participate in the plan, they can also open a personal account.  (Note: Employee remittances cannot be directed into a spouse's personal account.)

In addition, you will receive a "Sonny Says" Power Sector Retirement Program quarterly newsletter, which provides investment option recommendations. Sonny Goldstein is our Certified Financial Planner (CFP), and he is available on an individual basis as a no-cost, no-obligation service to the members. To make an appointment with Sonny for Financial, Pre-Retirement, and Retirement Planning advice,  please email [email protected] or phone 416-221-0060

To proceed with an RSP cash withdrawal, please do the following:

1. Complete a Power Sector Retirement Program withdrawal form, which can be downloaded here. Complete all sections of the form, sign, and date. Failure to complete all sections may delay the process.
2. All forms should be emailed to: [email protected]
3. A cheque is sent to the Member's address via mail, or via Direct Deposit, which takes up to 5 days. Note: for Direct Deposit, members must submit a void cheque or a direct deposit form (available from your bank), with the Member's preprinted name. 

NOTE: Members can only withdraw/transfer from their RSP account up to four times per calendar year (January to December).

To proceed with an RSP transfer of funds, please do the following:

1. Complete a PSRT withdrawal/transfer form, which Members can download here. Transfers are in cash only.
2. Complete a T2033 (transfer) form. This form is obtained from the financial institution to which you are transferring your funds. Please ensure a returning address is visible. Please note: If you hold an RPP (Retired Pension Plan) and want to transfer these funds to another account, your financial institution must provide the Power Sector Retirement with a "locking-in agreement."
3. All forms are to be emailed to: [email protected]. Please ensure all sections are completed, or PSRT will return the forms to the Member, delaying the process.
4. Transfer funds are sent to the indicated receiving institution address within two weeks.

To proceed with a change of investment direction, please do the following:

1. Complete the investment direction change form. Members can download that form here.
2. Please complete all sections before submitting the form to our office via email to [email protected]. Failure to do so will delay the process.

Please ensure you complete a change of beneficiary form for each desired account (i.e., RSP, RPP).  If you require a copy of this form, click here. This form must be mailed to our office address. To see your current list of beneficiaries, sign in at this link.

Members receive quarterly statements (March, June, September, and December) detailing all up-to-date information regarding current investments. If you want daily information on your Investment Performance,  click here to login to your My Canada Life account.

At the end of every year, members receive a tax package. Enclosed documents include a T4A income slip for the amount that has been deducted and contributed to your personal account (or Spousal account) with Canada Life, who will send you two RRSP receipts: (1) One in March for January and February contribution of the current year, and (2) a second one in January for the March to December contributions of the previous year. These two receipts will equal the T4A slip. Remember that the Retirement Program and Canada Life receive your contributions one month after the last month worked.