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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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