Registered Plans

Take Control Of Your Retirement Funds

If you need to transfer funds out of a pension plan from a former employer, we can provide you with the necessary registered vehicles for your investments. These include a Locked-In Retirement Account (LIRA) or a Locked-In RRSP. Upon retirement or in the year you reach age 71, you may transfer the funds from a LIRA to an allowable locked-in maturity option.

Pension Plans To Meet Your Needs

Similar to a regular RRSP, these accounts provide tax-sheltered growth and access to a wide range of eligible investments. They differ, however, in access to the funds within the account. Funds in a LIRA or a Locked-In RRSP cannot be withdrawn until you reach a certain age. This age requirement varies from province to province and some allowing access to the funds under specific circumstances.

By the year you reach age 71, these accounts must be transferred to an annuity or converted to a Life Income Fund (LIF), Locked-in Retirement Income Fund (LRIF) or Prescribed Registered Retirement Income Fund (PRIF) (Saskatchewan and Manitoba* regulated plans only).

*Manitoba allows a prescribed, once per lifetime, transfer of up to 50 percent from a Manitoba regulated LIF or LRIF (not from a LIRA or a pension plan) to a qualifying PRIF. Given the one time transfer limitation (not one time per LIF or LRIF), planning is required in cases of multiple LIFs and LRIFs and professional advice is recommended.

More Retirement Solutions

In addition, we can deliver the following retirement solutions:

• Self-Directed Plan
  Offers flexibility, control and broad investment choice
• Fund Partner Plan
  Gives you a choice of more than 100 mutual funds with no annual administration fee

We Listen, Care And Deliver

Your CIBC Wood Gundy Investment Advisor will start working with you by listening. It's only then that you can work together to build a future where you can retire right. Use our Find An Advisor tool to locate a CIBC Wood Gundy Investment Advisor near you.

The information contained herein is considered accurate at the time of posting. CIBC and CIBC World Markets Inc. reserve the right to change any of it without prior notice. It is for general information purposes only.

Clients are advised to seek advice regarding their particular circumstances from their personal tax advisors.