Application Ineligible due to Proof of Tranferbale fund

[JM_2015A]

Dear All,
Could you please help for the following queries,
My application became ineligible because of not suitable transferable funds. I submitted my retirement saving "yearly statement" from the Retirement savings bank as a proof of transferable fund. Now my application became ineligible. My questions are
1. Could I submit my retirement savings as a proof of funds. If yes then what type of documents I need to get from the bank for submission?.
2. Now my application is ineligible, what should I do now? Do I need to begin a new application or can I request for review? Which is most feasible.

Thank for your reply.

 

[andy108]

1. No, cant use it.

2. You need to apply again when new intake opens.

 

[mapleback]

Dear All,
Could you please help for the following queries,
My application became ineligible because of not suitable transferable funds. I submitted my retirement saving "yearly statement" from the Retirement savings bank as a proof of transferable fund. Now my application became ineligible. My questions are
1. Could I submit my retirement savings as a proof of funds. If yes then what type of documents I need to get from the bank for submission?.
2. Now my application is ineligible, what should I do now? Do I need to begin a new application or can I request for review? Which is most feasible.

Thank for your reply.

1, I know for a fact that retirement savings can be used as proof of fund, if it is that the funds are transferable and available to you at the time that you are to leave your home country (By the time your immigrant visa is processed). I used my RRSP to support my application and it was accepted because I was able to provide a letter from the financial institution that the monies would be payable to me once I resign from my current job. I also know of several other persons who have used their pension certificates along with letters from their financial institutions.

Saskatchewan's PNP will also accept this type of fund, as stated on page 10 of their application guide.
Good luck.

2, To answer your second question I need to know to what program did you apply.

 

[u2c]

Hi please help I have received a nomination from sinp but when I log into my Cic profile it show me nokinatikn expired in June 2015 but I only applied in July 2015 and received nomination in dec 2015 can any help me how to go about this I called sinp try said called Cic I called them and they said send an email which I have done but I don't want to waste time since I have only 1 week more to accept it can I create a new profile and accept the nomination.

 

[charan_yalala]

1, I know for a fact that retirement savings can be used as proof of fund, if it is that the funds are transferable and available to you at the time that you are to leave your home country (By the time your immigrant visa is processed). I used my RRSP to support my application and it was accepted because I was able to provide a letter from the financial institution that the monies would be payable to me once I resign from my current job. I also know of several other persons who have used their pension certificates along with letters from their financial institutions.

Saskatchewan's PNP will also accept this type of fund, as stated on page 10 of their application guide.
Good luck.

2, To answer your second question I need to know to what program did you apply.

Hello Mapleback,

Thanks a lot for the above information. Here in India, we have similar fund which is called as Employer Provident fund which is same as RRSP of canada. The funds are transferable and available to us at the time that you are to leave your home country (By the time your immigrant visa is processed). We can also quote RRSP to support my application and it was accepted because I was able to provide a letter from the financial institution that the monies would be payable to me once I resign from my current job.

Request to provide the letter you have used while submitting the SINP Application. You can black out all the personal details. We are group of around 20 people who have submitted Employer Provident fund and all the applications are "In Process" . We have submitted only online statements and if you can provide letter format , we will try to follow the same

Appreciate your help and eagerly waiting for your reply, and if these is accepted it will be gamechanger!!
My email is : charanyalala@gmail.com

Regards
Charan

 

[JM_2015A]

Thanks Maple and others,
Thanks for your clear reply.
1. The retirement fund holder gave me a benefit statement which explains all the benefits, starting date and etc. Along with, Do I need to get a letter saying that the money will be paid to me once I resign the job and leave the country to move to Canada.
2. I am submitting under SINP-Express Entry.

Regards
Jacob

 

[andy108]

1, I know for a fact that retirement savings can be used as proof of fund, if it is that the funds are transferable and available to you at the time that you are to leave your home country (By the time your immigrant visa is processed). I used my RRSP to support my application and it was accepted because I was able to provide a letter from the financial institution that the monies would be payable to me once I resign from my current job. I also know of several other persons who have used their pension certificates along with letters from their financial institutions.

Saskatchewan's PNP will also accept this type of fund, as stated on page 10 of their application guide.
Good luck.

2, To answer your second question I need to know to what program did you apply.

Can you please point-out to a official source where it says that retirement fund can be used? I guess there are certain types of the Pension Funds - like, government managed plans, and they can not be used. On other hand side - private funds - can be.

 

[RachelRichard]

Dear All,
Could you please help for the following queries,
My application became ineligible because of not suitable transferable funds. I submitted my retirement saving "yearly statement" from the Retirement savings bank as a proof of transferable fund. Now my application became ineligible. My questions are
1. Could I submit my retirement savings as a proof of funds. If yes then what type of documents I need to get from the bank for submission?.
2. Now my application is ineligible, what should I do now? Do I need to begin a new application or can I request for review? Which is most feasible.

Thank for your reply.

Hi,

When did your application became "in process"?

 

[Aalan]

Hello Mapleback,

Thanks a lot for the above information. Here in India, we have similar fund which is called as Employer Provident fund which is same as RRSP of canada. The funds are transferable and available to us at the time that you are to leave your home country (By the time your immigrant visa is processed). We can also quote RRSP to support my application and it was accepted because I was able to provide a letter from the financial institution that the monies would be payable to me once I resign from my current job.

Request to provide the letter you have used while submitting the SINP Application. You can black out all the personal details. We are group of around 20 people who have submitted Employer Provident fund and all the applications are "In Process" . We have submitted only online statements and if you can provide letter format , we will try to follow the same

Appreciate your help and eagerly waiting for your reply, and if these is accepted it will be gamechanger!!
My email is : charanyalala@gmail.com

Regards
Charan

Hi Charan,
Please add me to the group. I also submitted POF as EPF. On 29 th Dec they converted my savings bank account to equalent CAD. But for PF they did not. It is still in process.

My number +919535321280

 

[mapleback]

Can you please point-out to a official source where it says that retirement fund can be used? I guess there are certain types of the Pension Funds - like, government managed plans, and they can not be used. On other hand side - private funds - can be.

http://www.economy.gov.sk.ca/immigration/appguide-sk-express-entry
See page 10 under settlement fund. It includes RRSPs.

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/rrsps-eng.html

 

[RachelRichard]

Hi Charan,
Please add me to the group. I also submitted POF as EPF. On 29 th Dec they converted my savings bank account to equalent CAD. But for PF they did not. It is still in process.

My number +919535321280

Hi

Pls also add +6590272548

 

[charan_yalala]

Hello

I have asked the admin to add the two numbers for SINP group

+6590272548 and
+919535321280

Regards
Charan

 

[JM_2015A]

Application Received on 3 Dec, 2015
In Process: 5 Dec, 2015
Ineligible is on : 30 Dec, 2015

 

[Ladypee]

Hello Mapleback,
I read from a post you replied to that retirement savings plan can be used as proof of funds if the funds are transferable and available to you at the time that you are to leave your home country.
Over here in our country a lot of people used Pension fund as proof of funds and their application became inelligible and i know for a fact that a lot of people still used it for this January intake
My question is this
1) did you attached the letter from your financial institution stating that the funds will be available and transferable to you when you leave your present job when you applied to SINP with your documents or you sent the letter to them on request.
2)for those that have used Pf as proof of funds and they can show that the money can be transferable and available to them and they didnt attached the letter to SINP, can they stilll send it to them by mail? or wait for SINP to ask?
3)If they wait for Sinp to ask and they never asked and their application becomes inelligible rather due to proof of funds, can they still send the letter?
Thanks your response will be highly appreciated
God bless

 

[mapleback]

Hello Mapleback,
I read from a post you replied to that retirement savings plan can be used as proof of funds if the funds are transferable and available to you at the time that you are to leave your home country.
Over here in our country a lot of people used Pension fund as proof of funds and their application became inelligible and i know for a fact that a lot of people still used it for this January intake
My question is this
1) did you attached the letter from your financial institution stating that the funds will be available and transferable to you when you leave your present job when you applied to SINP with your documents or you sent the letter to them on request.
2)for those that have used Pf as proof of funds and they can show that the money can be transferable and available to them and they didnt attached the letter to SINP, can they stilll send it to them by mail? or wait for SINP to ask?
3)If they wait for Sinp to ask and they never asked and their application becomes inelligible rather due to proof of funds, can they still send the letter?
Thanks your response will be highly appreciated
God bless

Hi Ladypee, I can only speak for Jamaica. What is important is that your proof of funds meet all of CIC's POF criteria, that is it is unencumbered and available to you, equal to or higher than the low-income cutoff for your family-size, and must be liquid and transferable to Canada. A number of persons that I know have used their pension certificates accompanied by statements showing pension contributions from inception of the plan to current date, so the funds were older than 6 months and up-to-date. (Note that what I speak of is for retirement plans where employees contribute to the scheme and the pension laws of your country might be different) and a letter from the financial institution which manages the plan which slates the terms of payment of the plan. In my case, as well as the case of others that I know that have successfully used this, the terms of my plan is that should I resign from the company, my contribution would be refunded to me. CIC is interested in knowing that your funds are unencumbered and available to you when you come to Canada.