What is a LIRA: Transferring Funds from Pension Plans | LifeBuzz

 LifeBuzz presents retirement news: What is a LIRA contribution process? The only contribution to a LIRA is the initial transfer of funds from your former workplace pension plan. You cannot make additional contributions over time as you would to an RRSP. The amount that can be transferred is based on the commuted lump-sum value of your pension entitlement plus any excess contributions you made. Any pension funds above the maximum transferable amount must be taken in cash and taxed appropriately.  


https://lifebuzz.ca/what-is-a-lira/ 


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