Locked-in Registered Plans

LIRA, LIRSP, RLSP, LIF, RLIF and Prescribed RRIF

  • Created for staff new to locked-in pension funds.  This session provides information on the types of pension plans, pension jurisdictions and specific information on the Manitoba (MB) Locked-In Retirement Accounts (LIRAs), Life Income Funds (LIFs), and Prescribed RRIFs.
  • Content includes:
  • Pension Plans – Defined Benefit Plans, Defined Contribution Plans, pension jurisdictions and what determines the jurisdiction of a plan
  • Locked-in Funds - Definition of Spouse/CLP, receiving locked-in funds, relationship breakdown requirements, transferring funds out and third party demands
  • LIRA, LIRSP, RLSP – special releases, retirement options and estates payouts
  • LIF, RLIF – maximum payments, special releases and estate payouts

    • Manitoba LIRA, LIF, Prescribed RRIF 

    Changes to the Manitoba Pension Regulations effective May 31, 2010, introduced 9 new forms, a change in the process of requesting a Written Notice on the 50% PRRIF transfers, new calculation for the LIF maximum payment, special release to non-residents, the ability for a spouse / common-law partner to waive his/her death entitlement, just to name the more important changes.        

    PBSA 1985 LIRSP, RLSP, LIF, RLIF

    In May 2008, PBSA 1985 made significant changes introducing releases due to financial hardship, small amounts and 50% release from a Restricted LIF.   

    Ontario LIRA, LIF

    Changes to the Ontario Pension Legislation in June 2009 now provide for a 50% release of LIF funds.  Special releases under this jurisdiction and the form requirements can sometime be confusing.

    Saskatchewan LIRA, Prescribed RRIF

    Ensure staff understand what is available under this pension jurisdiction.

  • To assist staff in understanding all the changes, we offer sessions specific to any of these jurisdictions.  Staff attending should have knowledge in the administration of locked-in funds but are requiring more details on the nuances of these specific jurisdictions. 
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  • Other pension jurisdictions are available upon request.

  • See what past participates had to say about an RP Success session they attended by clicking here

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  • View our Calendar for upcoming training dates.