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A Locked-in Retirement Account (LIRA) is a type of registered pension fund used to hold your pension savings with a former employer. Even if you can’t continue to save with a LIRA, you can still manage your investments to reflect your retirement goals.
Why open a LIRA?
Sheltered today Pays off tomorrow
You’re in the driver’s seat
Savings safely locked away
How does it work?
LIRA: Investing in 4 easy steps
If you have a pension fund with a former employer or a LIF that you would like to lock-in again, that’s your cue to get in touch with one of our advisors 1 about a LIRA.
Together, we map out a plan for the retirement you want based on the funds you have in your LIRA, including investment horizon and your risk profile.
A specific feature of the LIRA is that you cannot contribute to it over the years. But, unlike a pension, you control 100% of your investments and you can change them as your needs change.
You can't withdraw early from a LIRA, save for specific exceptions. This makes it perfect for discipline. Watch your investment earnings grow tax-sheltered until withdrawn. With this account, you’re playing the long game for the win!
The scenario shown here is for demonstration purposes only2 and should not be relied upon as financial or other advice.
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