• 30 minutes to your financial fitness

• Registered Plans

  • RRSPs
  • RRIFs
  • RESPs
  • Locked In Retirement Plans
  • Tax-Free
  • RRSP Loans

• Term Deposits

  • Short Term
  • Long Term
  • Escalator
  • Index-Linked

• Mutual Funds

  • Equity
  • Balanced
  • Income
  • Money Market
  • Credential Asset Management

• Investing

  • Investment Options
  • Online Brokerage Service

Locked In Retirement Plans

All locked in RSP's originate from Registered Pension Plans. Registered Pension Plans are funds set aside by the employer and/or employee for purposes of funding retirement income. When the plan holder terminates employment the funds set aside after the "vesting period" may be transferred to a Locked In Retirement Account (LIRA) . This gives the investor the opportunity to make the decisions on how the funds will be invested until such time as it needs to be converted to retirement income.

Life Income Funds (LIFS) may be purchased using LIRA  funds to provide retirement income. Generally they can be purchased at age 55, but must be converted by December 31st in the year in which the plan holder turns 71. Provincial and Federally governed plans have specific regulations; consult with your credit union retirement specialist  for detailed information regarding your plan.

Features and Benefits of LIRAs

• When invested in Credit Union Deposits, LIRA's  are fully insured through Deposit Insurance Corporation of Ontario.
• Long Term Deposits are available guaranteeing your interest rate until maturity.
• Indexed Linked Funds held within a LIRA account combine  the safety of a long term deposit with the potential for higher returns
• Mutual funds* may also be purchased and held in a LIRA. Consult with your Credential Asset Management Inc. Mutual Funds Investment Specialist for more information.
• Ontario Pension regulations allow for early release of funds when certain conditions are met.

Features and Benefits of LIFS

• When invested in Credit Union Deposits, LIFs are fully insured through Deposit Insurance Corporation of Ontario.
• Long Term Deposits are available guaranteeing your interest rate until maturity.
• Mutual funds* may be also be purchased and help in a LIF. Consult with your Credential Asset Management Inc. Mutual Funds Investment Specialist for more information.
• Life Income Funds provide flexibility of payments  within prescribed limits to manage your retirement income.
• New regulations allow for a 50% release of funds from the LIFs within the first 60 days of funding.

Discuss your Retirement Income Options with a Credit Union Retirement Specialist who can provide options that best suit your needs.

*Mutual funds are offered through Credential Asset Management Inc. Commissions, trailing commissions, management fees, and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, cash balances, mutual funds and other securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. Their values change frequently, and past performance may not be repeated. ®Credential is a registered mark owned by Credential Financial Inc. and is used under license.