You may be entitled to a supplemental pension plan (or pension fund) with your employer. When you leave this company (for reasons other than retirement), you can have the assets accumulated on your behalf transferred to a LIRA. You can then manage them yourself tax-free.
The assets are then transferred to a registered account at the Caisse. You cannot contribute to your LIRA, but you are free to make the investment choices that are right for you. Upon retirement, the LIRA will be converted into a Life Income Fund (LIF), which will then pay you a retirement income.
1. Mutual funds are offered through Credential Asset Management Inc. Mutual funds, other securities and securities related financial planning services are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered trademark owned by Aviso Wealth Inc.