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Locked-In Retirement Account (LIRA) and Locked-In RSP

Quick facts

  • Main feature: tax-sheltered investment
  • Withdrawal: withdrawals allowed before retirement only under exceptional circumstances
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 You must convert your Locked-In Retirement Account (LIRA) or Locked-In RSP into a LIF no later than December 31 of the year you turn 71.

Who should get this investment?

Savers who need to transfer money accumulated in a company retirement plan (widely know as a "pension plan") into a registered retirement savings plan. If you are leaving your job or taking early retirement, you will need to put your pension plan savings into a LIRA or Locked-In RSP.

Features

Conversion
You may convert all or part of your LIRA or Locked-In RSP into an annuity or LIF at any time.
Other
  • Funds are unseizable.
  • At death, LIRA or Locked-In RSP balance is transferred to surviving spouse or, in certain conditions, your estate.

Find out more

See frequently asked questions about LIRAs and Locked-In RSPs (FAQ).
Read the Manage your retirement income section.

Did you know?

To help you achieve your retirement goals, Desjardins Financial Security Guaranteed Investment Funds and the Helios Contract will provide you with a guaranteed and predictable income, regardless of market fluctuations.

How to get this product
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