I am an Indian and working at Toronto for last ~4 years with long term Work Permit. ( I am NOT a PR holder).
My company is deducting ~300 CAD per month from my salary under 'GOVT PEN'. I came to know that this is the deduction for 'Government Pension (CPP) - Canada Pension Plan'.
I am in my early 40's and I will leave to India permanently sometime in 2019, and I have no plans to come back to Canada.
In this case, Why should I contribute to a pension plan here? I paid almost ~10000 CAD approximately till now, or 5 Lakhs INR. It is BIG money in india.
Is there any way to withdraw/get back/close pension account ? So that I will get the money contributed (after deductions, if any).
PS: I am aware of the social security agreement between india and canada in which I can transfer this money to India's pension scheme (NPS), But personally i don't prefer that.
Did anyone have this kind of experience and withdraw money?