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LIRA (Locked-In Retirement Account)

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.

Basic concepts

  • Amounts are transferred from your former employer's pension plan.
  • Upon death, the Locked-in Retirement Account (LIRA) balance is paid to the spouse or, in certain circumstances, to the heirs.
  • Funds are unseizable.
  • You can convert all or part of the LIRA to a pension or LIF at any time, no later than 71 years.

Eligible investments

  • Eligible investments
  • Regular savings account
  • Guaranteed fixed-rate investments
  • Market-linked guaranteed investments
  • Funds and investment solutions1

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.

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