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GASWORKS VENTURE FUND INC. RETIREMENT SAVINGS PLAN, RSP 145687 LOCKED IN RETIREMENT ACCOUNT (LIRA) in respect of pension monies governed by the ONTARIO PENSION BENEFITS ACT (and Regulations thereunder)
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How to fill out locked-in retirement account lira

01
Contact your financial institution or employer to find out the specific steps and requirements for filling out a locked-in retirement account (LIRA) form.
02
Provide the necessary personal information such as your name, address, social insurance number, and contact details.
03
Specify the amount or percentage of funds you wish to transfer into the LIRA account from your existing retirement savings plan.
04
Review the terms and conditions of the LIRA agreement to ensure you understand the restrictions and rules associated with locked-in funds.
05
Sign and date the LIRA form to authorize the transfer of funds into the locked-in retirement account.

Who needs locked-in retirement account lira?

01
Individuals who have accumulated retirement savings in a pension plan that is subject to government regulations regarding locked-in funds.
02
Those who are looking to preserve their retirement savings and avoid certain withdrawal restrictions that come with traditional retirement accounts.
03
Employees who are leaving a job where they had a defined benefit pension plan and want to transfer their pension funds into a locked-in retirement account.
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A Locked-In Retirement Account (LIRA) is a type of retirement account in Canada that holds locked-in pension funds until retirement.
Individuals who have locked-in pension funds from a previous employer are required to transfer these funds into a LIRA.
To fill out a LIRA, individuals must contact a financial institution and request to open a LIRA account, then transfer the locked-in pension funds into the LIRA.
The purpose of a LIRA is to provide individuals with a way to save and invest their locked-in pension funds until retirement.
Information such as personal details, employment history, and the amount of pension funds being transferred must be reported on a LIRA.
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