• 385 Cedar Avenue, 100 Mile House, BC V0K 2E0

View on Map »

Hide Map

Portfolio Access

Locked-In Retirement Account

The Locked-In Retirement Account (LIRA) 1 and Locked-In Retirement Savings Plan (LRSP) 1 enable you, as an employee to maintain the tax-deferred status of pension plan proceeds received when you leave a company. LIRA’s lock in your money, but not your investment options. These plans are governed by federal or provincial pension legislation.

How they Work

Administrative information:
  • The LIRA can receive pension proceeds if the planholder earned the pension while working in a province other than B.C., Nova Scotia, or P.E.I.
  • P.E.I. has not yet established its own pension legislation, therefore any locked-in plans from P.E.I. must be handled individually
  • All money in locked-in plans must come from your Registered Pension Plan (RPP) or from another locked-in plan. You can’t make additional contributions, but you can decide how your money is invested.

Special information:

The LIRA or LRSP must be collapsed in the year in which you have your 71st birthday. You can then:

  • Purchase an annuity, or
  • Transfer the assets to a LIF or LRIF, depending on the pension legislation governing the LIRA or LRSP

1Investopedia

Millions of Canadians are without adequate insurance.
Use our online tools to learn more about affordable insurance solutions.
Flexcare, FollowMe Health & CI
Association Health & Dental
Travel Insurance

HOW WE HELP

YOUR RETIREMENT

After years of living the “rat race”, you are looking forward…

ESTABLISHED FAMILY

You are more experienced now, your bank account is larger,…

Retiree

During the last market downturn a few years ago, retirees who…

HOT TOPICS

About Us
We serve individuals, families and businesses in the 100 Mile House area.
Our primary goal is to help each client meet their unique financial goals by focusing on six key areas of needs analysis:
Contact Our Office
385 Cedar Avenue
100 Mile House BC V0K 2E0
Email: admin@lifecycle-financial.ca
Phone: (250) 395-2900
Fax: (250) 395-2977
Our Dealership
Dealer
Mutual funds are offered through Investia Financial Services Inc. The particulars contained herein were obtained from sources which we believe reliable but are not guaranteed by us and may be incomplete. The opinions expressed have not been approved by and are not those of Investia Financial Services Inc. This website is not deemed to be used as a solicitation in a jurisdiction where this Investia representative is not registered.
© Copyright AdvisorNet. All rights Reserved.

Follow Us

Linkedin-in