Generally speaking, any money transferred from a registered pension plan into a locked-in account (locked-in retirement account (LIRA), life income find (LIF) or locked-in retirement income fund (LRIF)) must remain "locked-in" and can only be used to provide retirement income.

In certain situations, however, it is possible to apply for special access to money in an Ontario LIRA, LIF or LRIF. Applications for special access may be made in the following situations, using the specified FSCO pension form:

• you are facing specific types of financial hardship - Form 6
• you have an expected income of $30,866.67 or less (for applications signed in 2009) - Form 6 or Form 6.1

Financial hardship applications using Form 6 or Form 6.1 are made directly to the Superintendent of Financial Services at the address listed in the forms. For these applications, successful applicants will be charged an application fee in order to offset FSCO's administrative costs.

For free help filling out Form 6 or Form 6.1, contact the Financial Services Commission of Ontario at:
416-250-7250
or toll free at 1-800-668-0128

A Guide to Applying for Special Access

Applying for Hardship Unlocking Withdrawal

Pension Forms - Financial Hardship Unlocking

Pension Forms - Pension Unlocking

A word of caution:

Beware of Scams Involving Your Retirement Savings, Regulators Warn - September 24, 2004

Pension Scams Cost You More Than Retirement Savings - July 26, 2001