Read this section if you are transferring money directly from your defined contribution account to make your pension purchase. On this form, a defined contribution account is referred to as an “RPP” which stands for “Registered Pension Plan”. If you are using DPSP funds for your purchase and are not sure how to complete the T2151 Form, contact the CAAT Plan.
Terms you’ll see on the T2151 form
- Applicant – that’s you, the owner of the account and CAAT Pension Plan member who is making the purchase.
- Transferor – that’s the RPP administrator of your previous plan. They will transfer the money to the CAAT Pension Plan to complete your purchase
- Transferee – that’s the CAAT Pension Plan, which will receive the transfer for your purchase and add it to your pension.
- RPP – that’s your defined contribution account. RPP stands for “registered pension plan”. The CAAT Pension Plan is also an RPP.
Section I – Applicant
There are five parts in Section I but you don’t have to complete them all. Because you will be transferring from your defined contribution plan, which is a registered pension plan (called an RPP), you only complete parts B, C, and D.
Member information
Enter your name, social insurance number, address, and telephone number.
Part A – Transfer from a DPSP
Skip this section. It does not apply to you.
Part B – Transfer from an RPP
In this section, the RPP administrator of your previous plan provides information about the plan.
The box “I am a member of the RPP” will be pre-selected. The RPP administrator of your previous plan will need to provide the other information on this form.
Part C – Description of amount to be transferred
- The RPP administrator of your previous plan will compare the amount you want to use for your purchase, with the amount available in your account, and tick either “Transfer my whole entitlement under the plan identified in Part A or B” or “Transfer the amount of $__________ which represents my partial entitlement under the plan identified in Part A or B”.
- If you are not transferring the whole amount in your account, you must also enter the amount you will be transferring on the solid line on the second option.
Part D – Identification of the RRSP, RRIF, RPP, SPSP, SPP, or PRPP to which the funds are being transferred
This refers to the CAAT Pension Plan, which your funds are being transferred into. This section of the form has been partially completed for you by the CAAT Pension Plan. Tick the box “Transfer the RPP or DPSP single amount to my RPP”.
The CAAT Pension Plan has pre-filled these fields:
- “RPP number and name”
- “Canada Revenue Agency’s registration number of RPP or DPSP”
- “Transferee’s address”
You, as the member, must sign and date Part D at the bottom.
Section II – Transferor’s certification
Remember, the Transferor is the RPP administrator of your previous plan.
The RPP administrator for your previous plan will complete this part of the form to confirm that the transfer meets all income tax requirements.
They will also sign and date this part of the form.
Section III – Transferee’s certification
Remember, the Transferee is the CAAT Pension Plan.
When the form is completed, and you have arranged to pay any fees, the RPP administrator for your previous plan will keep the form and process the transfer.
It’s up to you to keep an eye on your account to see if the transfer has been made. If the transfer isn’t completed in two weeks, it’s a good idea to call your financial institution to follow-up.