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If I quit my job, what happens to my pension plan or fund with my former employer?
You have several options:
- Transfer the accumulated funds to a Locked-In Retirement Account (LIRA). When you retire, the funds can be transferred to a Life Income Fund (LIF) so you can make withdrawals.
- Transfer the funds to your new employer's pension plan.
Leave the funds in your former employer's pension plan and receive a pension after retirement.
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