Most Canadians believe that they are not able to access their former employer pension plans: LIRA, LRSP, or LIF until retirement. That is not always the case.
By understanding federal and provincial registrations and unlocking rules, you can access your funds now rather than waiting until retirement age.
Usually, your pension funds should stay locked-in in a LIRA, RRSP, or LRSP until retirement. For those willing to withdraw the money early, we can help you unlock the funds and gain access to them right away without the need to wait until 65!
Which accounts can we unlock?
- Locked-in retirement account (LIRA)
- Locked-in registered savings plan (LRSP)
- Locked-in retirement income fund (LIF/LRIF)
- Former or terminated pension members
- Registered Pension Plan (RPP)
- Defined Contribution Pension Plan (DCPP)
- Defined Benefit Pension Plan (DBPP)
- Deferred Profit Sharing Plan (DPSP)
Which accounts can we not unlock?
- Current Employer Pension Plans
- Canada Pension Plan (CPP)
- Old Age Security (OAS)
- Disability Insurance Pension (WSIB)
- Current Pension Plans for people on:
- Short-term lay off
- Maternity Leave
- Disability Leave
What provinces can we help get pension accounts unlocked?
- British Columbia
- Northwest Territories