Locked-In Retirement Account (LIRA) and Locked-In RSP

Becoming a Member

Note:
You must convert your Locked-In Retirement Account (LIRA) or Locked-In RSP into a LIF no later than December 31 of the year you turn 71.

Who should get this investment?

Savers who need to transfer money accumulated in a company retirement plan (widely know as a "pension plan") into a registered retirement savings plan. If you are leaving your job or taking early retirement, you will need to put your pension plan savings into a LIRA or Locked-In RSP.

Features

Conversion You may convert all or part of your LIRA or Locked-In RSP into an annuity or LIF at any time.
Other
  • Funds are unseizable.
  • At death, LIRA or Locked-In RSP balance is transferred to surviving spouse or, in certain conditions, your estate.

Talk to Us

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Call us at 1-866-592-2226 (Option 5) or find your local branch number.

Meridian Credit Union