A Canadian investment fund that allows an individual to save money for retirement. The money deposited is allowed to accrue interest (which goes right back into the LIRA), the money is tax-deferred, and there are no allowances for early withdrawal, either in whole or in part. The funds must remain in the account until an individual's retirement.
Related information about locked-in retirement account (LIRA):
- Locked-In Retirement Account - Wikipedia, the free encyclopedia
A Locked-In Retirement Account (LIRA), and the virtually identical Locked-in Retirement Savings Plan (LRSP), are Canadian investment accounts designed ...
- Locked-In Retirement Account (LIRA) Definition | Investopedia
A type of registered retirement savings alternative that locks in the pension funds in investments. While the funds are locked in, they are unavailable for cash-out.
- What Is A Locked-In Retirement Account (LIRA)?
If you are in a registered pension plan with your employer and leave that company, your pension will be transferred into a Locked-In Retirement Account ( LIRA).
- RRQ - Characteristics of a locked-in retirement account (LIRA)
A member who stops participating in a pension plan but has not retired can transfer the value of his or her benefits into a locked-in retirement account (LIRA) or a ...
- Locked-In Retirement Account (LIRA) | FAQs about Specific Pension ...
LOCKED-IN RETIREMENT ACCOUNT (LIRA). The main objective of The Pension Benefits Act (the act) is to protect employees' rights to the benefits that are ...
- Locked-in Retirement Account (LIRA) - Desjardins Financial Security
Locked-in Retirement Account (LIRA) and locked-in RRSP. What are Locked-in Retirement Accounts (LIRAs) and locked-in RRSPs? They're registered plans ...
- Locked-in Plans | Scotiabank
Locked-In Retirement Savings Plan (LRSP); Locked-In Retirement Account (LIRA ); Restricted Locked-In Savings Plan (RLSP). Income. Life Income Fund (LIF) ...
- What is locked-in retirement account (LIRA)? definition and meaning
Definition of locked-in retirement account (LIRA): A Canadian investment fund that allows an individual to save money for retirement. The money deposited is ...