Locked-In Retirement Account (LIRA)
Secure Your Pension Transfer for Retirement
Minimum Conversion Age
Age 55
Maximum Conversion Age
Age 71
Preserve Your Pension Benefits
A Locked-In Retirement Account (LIRA) is designed to hold pension funds when you leave a pension plan. It maintains the pension's locked-in status while giving you control over investment decisions, ensuring your retirement savings remain secure until retirement.
Key Benefits of a LIRA
Tax-Deferred Growth
All investment earnings grow tax-free until withdrawal, maximizing your long-term returns.
Creditor Protection
Assets in a LIRA are protected from creditors, providing financial security.
Investment Flexibility
Choose from various investment options while maintaining the locked-in status.
Retirement Security
Ensures pension funds remain dedicated to providing retirement income.
Understanding Your LIRA
Pension Protection
Maintains the locked-in status of your pension funds, ensuring they're available for retirement.
Investment Control
Take control of your investment decisions while preserving the pension's intended purpose.
Conversion Options
Convert to a Life Income Fund (LIF) or other permitted retirement income options at retirement.
Provincial Regulations
Rules and withdrawal options vary by province, providing some flexibility in specific circumstances.
Estate Planning
Beneficiary designation options help ensure your retirement savings are transferred according to your wishes.
Optimize Your LIRA
Take control of your locked-in pension investments
© 2025 Optiml. All rights reserved.