LIRA definition

LIRA means a “LIRA” or “locked-in retirement account” as defined in Pension Legislation and, where those terms are not defined, means a registered retirement savings plan that satisfies the conditions under Pension Legislation for receiving funds that originate from an RPP;

LIRA means the locked-in retirement account established by the Issuer for your benefit under this contract. (« CRI »)

LIRA means a prescribed retirement savings arrangement, known as a locked-in retirement account, that is a registered retirement savings plan, within the meaning in the Tax Act, that meets the conditions set out in Schedule 3 of subsection of the Regulation;

Examples of LIRA in a sentence

• Subject to any restrictions imposed by the Act, the property of the Plan may be transferred to the issuer of an RPP, LIRA, a LIF, or a life annuity.

• The value of the assets in the LIRA includes all accumulated investment earnings, including any unrealized capital gains and losses, of the LIRA from the date of death until the date of payment.

• Only property representing locked-in funds originating directly or indirectly from an RPP, a LIRA, a life annuity the capital of which originated from an RPP, or another source permitted by the Act and Pension Legislation from time to time, may be transferred to the Plan.

• If assets in this LIRA consist of identifiable and transferable securities, We may transfer securities with Your consent.

• In Funds This agreement applies only to funds originating from a Pension Plan(s) to which You or Your former Spouse belonged (including all earnings on those funds) and which are transferred to this LIRA, (the “Locked-In Funds”).

More Definitions of LIRA

LIRA means a locked-in retirement account, that is a RSP that meets the requirements of subsection 21 of the Regulation relating to locked-in retirement accounts;

LIRA means the lawful currency of the Republic of Italy.

LIRA or “locked-in retirement account” means a registered retirement savings plan that is a registered retirement savings arrangement as defined in clause 2(as) of the Act and meets the requirements in Sections 200 to 204 and Schedule 3, and includes a registered retirement savings plan established under a contract made before January 1, 2003, for the purposes of a transfer under the former Act;

LIRA means the locked-in retirement account established by the Issuer for your benefit under this contract.

LIRA means a RSP that meets the conditions set out in the Schedule 3, and in the Act and the Regulations;

LIRA means an RRSP which meets the requirements, where not inconsistent, of a “locked-in retirement account” under Schedule 3;

LIRA means a plan which has been registered as a registered retirement savings plan under the Tax Act and which meets the requirements (where not inconsistent) of section 29 of the Pension Regulations.