Locked‑in retirement account (LIRA)
A safe choice for your future
If you have funds from a registered pension plan (employer pension fund) or a locked‑in retirement account (LIRA) with another financial institution, you can set up a LIRA with Épargne Placements Québec and benefit from competitive rates.
A LIRA with Épargne Placements Québec offers many advantages:
- A range of attractive products.
- No management or administration fees.
- You are the sole manager of your funds.
- Your funds are 100% guaranteed by the Québec government, regardless of amount or term.
Moreover, for any amount of $1 000 or more transferred into one of our registered accounts and invested in a term product, you receive a refund of transfer fees of up to 5% of the amount transferred (plus taxes), to a maximum of $150.
The LIRA is a retirement savings account that can only receive amounts from a pension fund of an employer subject to Québec regulation.
The main conditions are:
- No minimum age to open a LIRA.
- No withdrawals are allowed.
- No subsequent deposit is allowed, unless the amounts come from another employer pension fund, another LIRA or a life income fund (LIF).
Want to open an Épargne Placements Québec LIRA or obtain more information? Simply contact one of our investment officers.