LIRAs and LIFS

Are you familiar with LIRAs and LIFs?

This folder provides information about locked-in retirement accounts (LIRAs) and life income funds (LIFs) and answers frequently asked questions about them.

Newsletter Express (21 May 2008)

Determining Applicable Law for an LIRA or LIF

Tiré à part CRI et FRV

(LIRA and LIF offprint; French only)

With its annotations, commentaries and examples, this document makes it easier to understand the sections of the Regulation respecting supplemental pension plans that deal with LIRAs (locked-in retirement accounts) and LIFs (life income funds).

An insert (1 page, 41 Kb)  specifies the revisions that must be made to this document, which are mainly the result of legislative changes.

The offprint is available in a print version only and includes the insert.

LIRA and LIF schedules prescribed by regulation

The holder of an LIRA or an LIF may have to use one of the following schedules from the Regulation respecting supplemental pension plans.

R-15.1, r. 6 — Regulation respecting supplemental pension plans 

To directly access schedules 0.1 to 0.10 of the Regulation:

• Schedule 0.1 : Temporary income under a SIPP
• Schedule 0.2 : Lump-sum payment under a SIPP, an LIRA or an LIF (as of age 65)
• Schedule 0.3 : Lump-sum payments under a SIPP (ages 55-64)
• Schedule 0.4 : Temporary LIF income (ages 54-64)
• Schedule 0.5 : Temporary LIF income (under age 54)
• Schedule 0.6 : Factors related to the reference rate and an LIF holder's age
• Schedule 0.7 : Conversion factors related to an LIF holder's age
• Schedule 0.8 : Temporary LIF income exceeding the reference temporary income (ages 54-64)
• Schedule 0.9 : Transfer to an LIF (age 54 or over)
• Schedule 0.9.1 : Transfer to an LIF (under age 54)
• Schedule 0.10 : Temporary income under a annuity contract (ages 55 to 64)

Schedules 0.1, 0.3 and 0.10 do not concern LIRAs and LIFs.