{"id":515,"date":"2023-01-18T14:58:19","date_gmt":"2023-01-18T19:58:19","guid":{"rendered":"https:\/\/www.paulmarcotte.ca\/?page_id=515"},"modified":"2025-10-17T10:44:37","modified_gmt":"2025-10-17T14:44:37","slug":"lira","status":"publish","type":"page","link":"https:\/\/www.paulmarcotte.ca\/en\/retirement\/lira\/","title":{"rendered":"LIRA"},"content":{"rendered":"
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LIRA (locked-in retirement account) or locked-in RRSP<\/h2>\n

A LIRA (Locked-In Retirement Account), also known as a locked-in RRSP, is a savings product designed to grow the funds accumulated for retirement. This type of account holds \u201clocked-in\u201d amounts, meaning the funds cannot be withdrawn before retirement, except in specific cases allowed by law. <\/p>\n

The amounts invested in a LIRA grow tax-deferred, just like in an RRSP, and continue to generate income until retirement. When the time comes, these funds can be used to purchase a life annuity or be transferred into a Life Income Fund (LIF) to receive regular income. A LIRA is therefore a key financial planning tool to ensure a stable and secure income during retirement.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n

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Optimize your retirement plans<\/a><\/div>\n<\/p><\/div>\n<\/p><\/div>\n
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