![What percent does go fund me take](https://kumkoniak.com/114.png)
This is one of the most common questions I get. Typically the need for income from happens when your retire. If you want income from your LIRA, you will have to either transfer to a Life Income Fund (LIF) or a Life Annuity. LIRAs do not allow for lump sum withdrawals and there are no options to create income. People who leave employers with either Defined Benefit Plans (DB) or Defined Contribution Plans (DC) can move their pension funds into LIRA where they can self manage their asset (with or without the help of a financial advisor). LIRAs are designed for accumulation of money that originated from a pension plan. That’s because both the federal and provincial governments do not permit you to convert your pension into cash. If you left a company with a pension before retirement, chances are you had to move the money into a Locked in Retirement Account (LIRA).
![What percent does go fund me take](https://kumkoniak.com/114.png)