7150 Hawthorne Dr. Unit 104
Windsor, ON, N8T 3N3
Phone: (519) 974-6688
Toll Free: +1 866-973-4846
Fax: (519) 974-7192
When you leave a company and you are eligible to take your pension funds along, the funds must be transferred directly into a Locked-in RRSP, also called a Lock in Retirement Account (LIRA) in certain provinces. You cannot make any additional contributions to the plan. Lump sum withdrawals may be allowed under special circumstances such as shortened life expectancy or a fund value below a certain amount. The funds can only be transferred to a Life Income Fund (LIF), life annuity or in certain provinces, to a Life Income Retirement fund (LRIF). LIFs and LRIFs are very similar to RRIFs where a minimum amount must be withdrawn each year. But, there is also a maximum annual limit on LIFs and LRIFs to ensure that you maintain a lifetime income from the plan, just as you would from a pension plan.
The contents of this website do not constitute an offer or solicitation for residents in the United States or in any other jurisdiction where either Seguin Financial Group and/ or Sterling Mutuals is not registered or permitted to conduct business. Mutual funds provided through Sterling Mutuals Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus carefully before investing. Mutual funds are not guaranteed, their values fluctuate frequently, and past performance may not be repeated.
Insurance products, and other related financial services are provided by Seguin Financial Group as independent insurance agents, and are not the business of, or monitored by Sterling Mutuals Inc.
For more information, click on the following: Legal Information, Privacy Policy and Client Complaint Procedures.
