What Is A Locked In Retirement Savings Plan? 
A Locked-In Retirement Account -LRB- LIRA -RRB- is a Canadian investment account to hold locked-in pension funds for prior plan members , their spouses or common-law partners , or surviving spouses or partners . Funds held inside LIRAs or LRSPs for that matter are available , or `` unlocked , '' at retirement . For confirmation on the definition please seek a Canadian financial adviser familiar with these retirement vehicles . 