LIRA rules in Separation and Divorce?

Locked-in Retirement Account
  • Required to provide a statement showing your LIRA balance, on your date of marriage as well as your date of separation.

  • The Income Tax Act is an act that provides tax-free rollovers of LIRA between separating spouses.

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What happens to your retirement savings in a divorce?

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Making an LIRA Account financial disclosure

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LIRA Account financial disclosure Documents

LIRA Locked-in Retirement Account

The statement is typically sent to subscribers on a quarterly basis, usually in March, June, September and December. If you have not received your statement for the period, you may need to conduct inquiries.

Obtaining a digital copy of this document:

what-you-need-to-know

Obtaining  a digital copy of this document

  1. Many online sources allow you to download a digital copy to the device.
  2. Most up to date Web Browsers allow you the option of “Print to PDF”
  3. Scan your hard copy to a pdf.   

Note: This can be done on a personal (home or work) scanner, or can be done at a retailer such as Staples Business Depot

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About the Author:
Ken Maynard CDFA, Acc.FM

I assist intelligent and successful couples in crafting rapid, custom separation agreements that pave the way for a smooth transition towards a secure future. This efficient process is achieved in about four meetings, effectively sidestepping the excessive conflicts, confusion, and costs commonly linked to legal proceedings. Clients have the flexibility to collaborate with me either via video conference or in-person through a DTSW associate at any of our six Greater Toronto mediation centers, located in Aurora, Barrie, North York, Vaughan, Mississauga, and Scarborough.

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Ken Maynard CDFA, Acc.FM