Who can transfer funds to a LIRA?
You may transfer funds to a LIRA, if: • You are a member of a defined contribution pension plan and you stop contributing to the plan. You may also transfer money if you have a Variable Benefit account under the plan (A Variable Benefit Account pays a LIF type payment from a pension plan). • You are a member of a defined benefit pension plan and stop contributing to the plan before you reach the plan’s early retirement age. • You are a member of a defined benefit pension plan (if the plan allows) who no longer contributes to the pension plan after you reach the plan’s early retirement age. • You are the spouse or common-law partner and your marriage or relationship with the plan member/owner has broken down. • You are the spouse or common-law partner of a plan member/owner who has died. • You are the owner of another LIF, LIRA or LRIF.
