Q&A: Wolves breaking down her door

Question: I am inquiring as to the possibility of unlocking my
retirement funds. I live in Ontario and lost my job due to the company closure
the end of February of this year. I have been on EI since March and as much as
I appreciate the money that I am receiving it is in no way enough to cover my
monthly expenses. I have managed to keeps the wolves away from the door but it
seems like it’s turning to straw and they are starting to break through. I do
have some money that would more than help but I need access to it. Is there any
way other than death that I can get it out? Thank you in advance to your quick
response to my question. – C.D.

Gordon Pape answers: You’re in luck. Ontario is among
the most liberal jurisdictions in the country when it comes to getting money
out of locked-in retirement accounts. You can apply to the Financial Services
Commission of Ontario to withdraw funds based on financial hardship for any
of a number of reasons (such as risk of eviction or medical bills), or if your
expected 2006 income is less than $28,066.67. For more details go to <a href="http://www.ontarioinsurance.com/english/pensons/unlocking/pensionbenact.asp” target=”_blank”>http://www.ontarioinsurance.com/english/pensions/unlocking/pensionbenact.asp

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