Automatic Withdrawal Plan
An Automatic Withdrawal Plan lets you receive regular payments from your non-registered Scotia Securities Inc. (SSI) Account.
How it works:
- You determine the amount (subject to the applicable minimum withdrawal amounts) and which ScotiaFund(s) you would like to redeem.
- You can choose to receive payments monthly, quarterly, semi-annually or annually.
- We'll automatically sell the necessary number of units to make payments by cheque or deposit to your bank account.
- If you sell units within 31 days of buying them, you may have to pay a short-term trading fee.
- You may realize a capital gain or loss - capital gains are taxable.
- You can change the funds and the amount or frequency of your payments, or cancel the plan by advising us in writing.
- SSI can change or cancel the plan, or waive the minimum amounts at any time
Note: If you withdraw more money than your fund units are earning, you'll eventually use up your investment.