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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

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