Financial Planning -> Pensions -> Registered Pension Plans (RPPs) -> Federal RPP transfer to LIRA
Transfer of a Federally Registered Pension Plan to a Locked-In Plan
Where employment has been terminated with a federally regulated employer, the Registered Pension Plan of the employee can usually be transferred to a locked-in retirement account, also known as a locked-in RRSP. These accounts are governed by the federal Pension Benefits Standards Act (PBSA). How the funds are withdrawn by the employee are covered by the Pension Benefits Standards Regulations s. 20 and 20.1. The following rules apply:
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The funds in the locked-in account:
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| A locked-in retirement account may provide that if a physician certifies that the life of the holder of the account is expected to be shortened considerably due to mental or physical disability, the funds can be withdrawn in a lump sum. | ||||||||||||||||
| By the end of the year in which the taxpayer turns 71, a locked-in account must be transferred - for options see the article on locked-in retirement accounts. |
For information regarding unlocking of federally-regulated locked-in pension plans, see the article on unlocking your pension plan.
Revised: December 29, 2025