Making a purchase in DBplus

Read this section if you are transferring money from your RRSP to make your pension purchase. If you are using RRIF, SPP, LIRA or PRPP funds for your purchase, contact the CAAT Plan if you are unable to complete the T2033 form.

The T2033 has already been pre-filled with information about the CAAT Pension Plan and signed by a CAAT Pension Plan representative. This confirms that the CAAT Pension Plan will accept the transfer and will make the process simpler. If you need another copy of the form, photocopy the one from your purchase package, or contact CAAT for additional pre-signed copies.

Terms you'll see on the T2033 form

• Annuitant or member – that’s you. You’re the owner of the RRSP, RRIF, SPP, LIRA or PRPP funds and you’re a CAAT Pension Plan member who is making the purchase.
• Transferor – that’s the financial institution you have your registered fund with. They will transfer the money to the CAAT Pension Plan to complete your purchase. If you are transferring Group RRSP funds, please contact the administrator for the transfer form.
• Transferee – that’s the CAAT Pension Plan. It will receive the transfer for your purchase and add it to your pension.

Section I – Annuitant or Member

There are four parts in Section I, which you can complete with your financial institution.

1. Member Information
2. Part A – Transfer from an RRSP, a RRIF, an SPP, or a PRPP
3. Part B – Description of amount to be transferred
4. Part C – Identifying the RRSP, RRIF, FPP, SPP, PRPP or annuity to which the funds are being transferred

Member information

Enter your name, social insurance number, address, and telephone number.

Part A – Transfer from an RRSP, a RRIF, an SPP, or a PRPP

In Part A, your financial institution will fill out the information about your registered funds on the first line.

• Check the appropriate box, for example: “I am the annuitant under the registered retirement savings plan (RRSP) for an RRSP transfer.
• Put your account number on the top line.
• The name and address of your financial institution goes at the bottom of Part A.

Part B – Description of amount to be transferred

Your financial institution will assist in completing the first two lines under subsection 1 in Part B of your T2033 form.

• Your financial institution will compare the amount you want to use for your purchase, with the amount in your RRSP account, and tick either “all of the property” or “part of the property in a one-time payment”.
• Do not tick “part of the property in several payments”. The CAAT Pension Plan will not accept multiple payments for a purchase.

In the second line, your financial institution will enter the total amount of money you will be transferring for the purchase, no matter which box you ticked. The transfer must be in cash.

You can use more than one RRSP account to make up the purchase amount. In that case, you’ll need one T2033 form for each RRSP you’ll be using. Photocopy the T2033 before it gets filled out or contact the CAAT Pension Plan for another copy.

You do not have to complete anything in subsection “2. For a transfer from a RRIF,” unless you are transferring from a Registered Retirement Income Fund.

Part C – Identifying the RRSP, RRIF, RPP, SPP, PRPP or annuity to which the funds are being transferred

This section is partially completed for you by the CAAT Pension Plan.

• Make sure your financial institution knows that the cheque for the transferred funds should be made out to the CAAT Pension Plan. There are instructions in the letter “Notification to financial institution”.
• The cheque must be sent to the CAAT Pension Plan at the address indicated on the form.

You, as the member, must sign and date Part C at the bottom.

Section II – Transferee

Remember, the Transferee is the CAAT Pension Plan. This is the CAAT Pension Plan’s portion of the form to complete. It tells your financial institution that the CAAT Pension Plan will accept the transfer for your purchase. The form in your purchase package will already be signed and dated by CAAT to make this step easier.

• Pay special attention to the date this form was signed. If the transfer is completed more than 90 days from that date, this form will be invalid which means you’ll need to contact the CAAT Pension Plan to get a new form.

Section III – Transferor

Remember, the Transferor is your financial institution.

• Your financial institution completes Section III. They will indicate the amount transferred, and any other instructions, as well as sign and date the form.
• Note: Your financial institution may charge you fees for this transfer. These fees can come from any account. They do not impact the transfer amount, but you are responsible for paying them. To avoid underpayment, make sure you advise your financial institution to make the payment to CAAT “net of fees”.
• You do not have to provide any information about your spouse in this section of the form.

Section IV – Receipt by transferee

When the form is completed, and you have arranged to pay any fees, your financial institution 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.

Purchases can be complex, but CAAT is making it easy by breaking down the purchase process into three stages – Learn, Return, Earn. Visit the DBplus purchases page for an overview, then access the following pages for details, videos and more.

• Learn about your purchase options
• Understand how to Return your forms and documents
• See how a purchase lets you Earn additional pension