Case Studies From : RPP, LIRA, LRSP and LIF Accounts
Disclaimer: These were structured on a case by case basis working within the applicable legislation rules of the specific individual case.
Case Study #1 Investing Options
The client had a dormant RPP from a former employer several years back. We were able to track down the options for the client and move money into the applicable registered vehicle to manage the client's account's growth actively.
Case Study #2
Financial Hardship
Due to low income, an individual who lost his job in the oil and gas sector could withdraw over $29,000 from his LIRA account.
Case Study #3
50% Unlocking
A 51-year-old female recently received half of her ex-husband's pension in the form of a LIRA account.
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She could unlock $52,000 and use it to cover her living expenses.
Case Study #4 Medical Costs
A middle-aged man who had unexpected medical costs come up could unlock $5,400 to cover these expenses from his LIRA account.
Case Study #5
Income Replacement
A 62-year-old veteran reduced his full-time employment to part-time after transferring his LIRA account to a LIF account.
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This gave him over $1000 a month in income from his new LIF account.
Case Study #6 Mortgage Arrears
A 33-year-old client whose new small business had been put in unforeseen circumstances was able to unlock over $10,000 to save his home from foreclosure.
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