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.
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