TERMIUM Plus®

The Government of Canada’s terminology and linguistic data bank.

locked-in retirement account [1 record]

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Alphabetical list of terms

Record 1 2021-01-26

English

Subject field(s)
  • Investment
  • Social Security and Employment Insurance
  • Pensions and Annuities
CONT

A locked-in retirement account (LIRA) is a special type of registered retirement savings plan … into which a person can transfer the amounts that are in a supplemental pension plan or a life income fund … The amounts in a LIRA are locked-in and can only be used for retirement income. Amounts cannot be withdrawn from a LIRA, except under certain circumstances in which a refund is allowed.

OBS

A LIRA is also known as a locked-in RRSP (registered retirement savings plan) in most provinces as both plans are similar.

OBS

The LIRA is available in all jurisdictions, with the exception of British Columbia, Nova Scotia and federally regulated pension plans. These three jurisdictions provide for the locked-in RRSP, which is very similar to the LIRA.

French

Domaine(s)
  • Investissements et placements
  • Sécurité sociale et assurance-emploi
  • Pensions et rentes
CONT

Le compte de retraite immobilisé (CRI) est un régime enregistré d'épargne-retraite […] particulier, dans lequel une personne peut transférer les sommes provenant de son régime complémentaire de retraite ou de son fonds de revenu viager […] L'argent contenu dans un CRI est immobilisé, car il doit servir à procurer un revenu à la retraite, […], sauf dans certaines circonstances où un remboursement est permis.

Spanish

Campo(s) temático(s)
  • Inversiones
  • Seguridad social y seguro de desempleo
  • Pensiones y rentas
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