Locked-in retirement account (LIRA)

Tax-sheltered investment growth for your pension funds  

If you leave or lose a job where you had a pension plan that requires or gives you the option to transfer your funds out of the plan, maintaining the tax-deferred status of your hard-earned savings is the key to living the life you want in retirement. With a locked-in retirement account (LIRA) from Manulife, any growth in your pension plan money continues to be tax-deferred after you leave a company. 

Choosing to set up an LIRA provides you with tax-sheltered investment growth:

Any growth will continue to be tax free until you withdraw the money

Control your investments—you decide how you invest your money

Name a beneficiary to receive your money after you're gone—if you have a spouse, they may have priority as a beneficiary

Convert your LIRA to a Life Income Fund (LIF) or life annuity for your retirement income as allowed by the pension rules that govern your locked-in money

Ready to invest?

Speak to your advisor to discuss investment options to help meet your needs. If you don’t have an advisor, we can help you find one.


Have a question?

Contact us