When is a joint, life pension waiver required?
If you, as a LIRA owner, have a spouse or common-law partner when you retire, the spouse or partner must receive a joint, life pension. This pension cannot be reduced to less that 60 percent at your death. The joint life pension is not required if the funds were transferred to your LIRA because your relationship broke down or your spouse or former spouse or partner died. Your spouse or partner may waive his/her claim to the joint, life pension by filing a written waiver with the administrator.
