Lifelong Learning Plan

The Lifelong Learning Plan (LLP) allows you to withdraw amounts from RRSPs to finance training or education for you or your spouse or common-law partner. You cannot use the RRSP funds to finance your children's training or education, or the training or education of your spouse or common-law partner's children. (For information on funding the education/training of your children or grandchildren, see our RESP page.)

To withdraw for the Lifelong Learning Plan, you will need to complete the Lifelong Learning Plan form (RC96). For this form and further information on the program, see CRA's Lifelong Learning Plan:

You can fax the RC96 form to Debbie Ann at 416.863.7479, but we must receive the originals by mail before a cheque can be issued.

Special notes

There are some things to be aware of when making a Lifelong Learning Plan withdrawal from your RRSP. To free up cash for your withdrawal, we would have to sell the positions from your current RRSP investment holdings. We can take funds from a regular and/or a spousal account.

Once the funds have been converted into cash we can issue a cheque. It usually takes about a week for this type of transaction, but we can speed up delivery of the funds with instructions for direct deposit to your bank account (there is a $17 charge to wire to non-Scotia Bank Accounts).

There may be Deferred Sales Charges on the funds in your account. We can research this if the initials DSC appear on your fund holdings. (DSC fees are charged by the Mutual Fund Companies to redeem units prior to their maturity.)

Contact us if you have any questions or for advice tailored to your specific circumstances.


Contact Us

T.  416.863.RRSP (7777)
F.  416.863.7479

ScotiaMcLeod is a division of Scotia Capital Inc., member of CIPF.

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