Your retirement income

With your locked-in account...

You can use your locked-in funds either directly or following a transfer to a locked-in retirement account (LIRA):

  • purchase a life annuity
  • transfer sums to a life income fund (LIF)
  • purchase a life annuity with a portion of the sums and transfer the remainder to an LIF

With your not locked-in account...

You can, directly or following a transfer of this account to a registered retirement savings plan (RRSP), transfer the sums to a registered retirement income plan (RRIF) or purchase an annuity. You can also make a cash withdrawal of all or some of the funds credited to your not locked-in account.

Evaluating your retirement income

Your retirement income will depend, among other factors, on:

  • the contributions made to your accounts
  • the investment income earned on the funds in your accounts
  • interest rates when you retire
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