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A LIRA, also called a Locked-In Retirement Account, holds the pension funds that you accumulated at a company you no longer work for. Since you are not yet retired, these funds are still locked in and not accessible.

If you quit your job and only accumulated a minimum amount in your pension fund, that money can be taken out as cash or locked-in for its intended purposes, such as retirement income.

The locked money will then be transferred into a LIRA where the funds accumulate on a tax-deferred basis until withdrawn. Other locked-in investment avenues are RRSPs or LRSPs. These are essentially places to invest money until retirement.











The age at which you can access your retirement money differs from province to province. If you need to access your funds early, you have the option to unlock your registered retirement plan from a former employer.

In the case of financial hardship, we are able to unlock those funds for you. If you find that your return on investment is low, we can help you reinvest your money in order to maximize your return. Enquire today about more LIRA and how to unlock your funds through our contact form or at the phone number below.


If interested in learning more,
Don’t hesitate to reach out to us today.
CFS wealth 1-888-451-6133
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