Can I on emigration from Canada get a lump sum or transfer of my CPP.?

Question

I have been working in Canada on a temporary work visa for 2 years. My visa is finishing soon and I will return to NZ. On leaving Canada can I get a pay out of the monies paid into CPP or transferred to another pension plan in NZ. Having paid into the scheme for only 2 years I do not think I am eligible for a pension anyway and if so the pay out would be minimal.

Answer 1

No, you cannot.  Any payment is lost, unless and until you reach retirement age with enough of an account to earn a pension.  That pension is transferable world wide, of course, but as you say, the amount you paid in and the period is not enough to make you eligible anyway.

Answer 2

Sorry, you can't have it paid out.

The amount of CPP that you paid to the government of Canada was claimed on your last year's tax return as a non-refundable credit, and used to bring down your tax payable.  If you didn't file your taxes, you didn't get the credit.  

If you didn't file your taxes last year, do it now.  You will also need to file next year as well.  When you get home, contact the Canadian Embassy for help in filing your tax return for 2008.  Be sure to tell your employer your address in NZ, so that they can forward your T4 slip to you there (keep your last pay stub from your employer just in case your T4 gets lost).

Answer 3

The only way you'd be able to get the money back would be if your employment had been covered under a social security scheme in another country, and if there was an agreement in place between Canada and that other country so that only one of thoese countries would consider the earnings pensionable.

I haven't been able to find an agreement between Canada and New Zealand.

In either case, you may actually qualify for a CPP retirement pension. The link below doesn't show any minimum number of contribution years required. It may not amount to very much, but you might qualify.

http://www1.servicecanada.gc.ca/en/isp/p...