The Locked-In Retirement Account (LIRA) 1 and Locked-In Retirement Savings Plan (LRSP) 1 enable you, as an employee to maintain the tax-deferred status of pension plan proceeds received when you leave a company. LIRA's lock in your money, but not your investment options. These plans are governed by federal or provincial pension legislation.
The LIRA or LRSP must be collapsed in the year in which you have your 71st birthday. You can then:
Contact our office for more information about Locked-in Retirement Accounts.
Aligned Capital Partners Inc. ("ACPI") is a full-service investment dealer and a member of the Canadian Investor Protection Fund ("CIPF") and the Canadian Investment Regulatory Organization ("CIRO"). Investment services are provided through YourLife Financial Wealth Management, an approved trade name of ACPI. Only investment-related products and services are offered through ACPI/YourLife Financial Wealth Management and covered by the CIPF. Financial planning and insurance services are provided through YourLife Financial. YourLife Financial is an independent company separate and distinct from ACPI/YourLife Financial Wealth Management.