Retirement · ShariaPortfolio
ShariaPortfolio LIRA - Locked-In Retirement Account
Co-Founder & CEO, HalalWallet
Facts are re-verified against ShariaPortfolio's published materials; this page updates when the provider's terms, rates, or coverage change.
ShariaPortfolio Canada's LIRA accepts locked-in pension transfers from former employers into a Shariah-screened portfolio - converting a conventional, usually bond-heavy pension balance into AAOIFI-compliant management for the locked-in decades until retirement. The portfolio holds screened equities, sukuk, and Islamic funds with no conventional bonds, in active or passive strategies matched to time horizon, and sits alongside RRSP and RRIF accounts in one consolidated halal retirement picture. Withdrawal restrictions are legislated under provincial LIRA rules. Custody is at Fidelity Clearing Canada ULC, with advisors serving BC, Alberta, Ontario, and Quebec.
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What is the ShariaPortfolio LIRA - Locked-In Retirement Account?
ShariaPortfolio Canada's LIRA accepts locked-in pension transfers from former employers into a Shariah-screened portfolio - converting a conventional, usually bond-heavy pension balance into AAOIFI-compliant management for the locked-in decades until retirement. The portfolio holds screened equities, sukuk, and Islamic funds with no conventional bonds, in active or passive strategies matched to time horizon, and sits alongside RRSP and RRIF accounts in one consolidated halal retirement picture.
- Contract structure: Wealth Management.
- Available in 4 provinces.
- Shariah oversight disclosed: Third-Party Certified.
- Verified against ShariaPortfolio's published materials on 2026-08-05.
Source: HalalWallet (halalwallet.ca)
Key facts
- Structure
- Wealth Management
- Screening method
- AAOIFI - under 5% impure revenue; interest-bearing debt below 30-33% of market cap; music/cinema/broadcasting excluded
- Availability
- 4 provinces
- Shariah oversight
- Third-Party Certified
- Shariah board
- Third Party Certified
- Last verified
- 2026-08-05
Facts are taken from ShariaPortfolio's published product materials and were last verified on 2026-08-05. Fields the provider does not publish are omitted rather than estimated.
Our take
For Canadians who left a job and a pension behind, this LIRA converts that locked-in money into a Shariah-screened portfolio backed by formal compliance opinions - usually the only way to get a former employer's plan out of its conventional default fund and into AAOIFI-compliant management. Because the money is locked until at least 55 under provincial rules, the multi-decade horizon suits the firm's active and passive equity-and-sukuk strategies, and the account consolidates with RRSPs and RRIFs under one advisor relationship. Withdrawal restrictions are legislated, so treat it strictly as retirement capital, and expect the fee conversation to happen in consultation since nothing is published. Best for former plan members who want their pension transfer managed halal until retirement.
Strengths
- Moves locked-in pension money from a former employer into a Shariah-screened portfolio
- Formal Sharia compliance opinions issued by ShariaPortfolio Canada
- Consolidates with RRSP/RRIF accounts in one halal retirement picture
- Custody at Fidelity Clearing Canada ULC, a CIRO-regulated custodian in the Fidelity group
Watch-outs
- As a locked-in account, withdrawals are restricted in both timing and method under LIRA rules
- Third-party certification rather than a standing in-house Shariah board
- No fees or minimums published - confirm pricing in the initial consultation
Is the ShariaPortfolio LIRA - Locked-In Retirement Account halal?
Managed under AAOIFI standards: portfolios hold only Shariah-screened stocks, sukuk, and Islamic funds - never conventional bonds, preferred shares, or interest-bearing instruments. Companies earning over 5% of revenue from prohibited industries or carrying interest-bearing debt above 30–33% of market capitalization are excluded, residual impure income is purified quarterly, and Shaykh Umer Khan (mufti, Wharton MSF) serves as Sharia Advisor. The LIRA holds locked-in pension transfers in screened portfolios.
Shariah oversight disclosed by ShariaPortfolio
ShariaPortfolio Canada provides Sharia screening and compliance review for investment portfolios and issues formal Sharia compliance opinions (fatwas).
HalalWallet reports the Shariah documentation a provider publishes. We do not issue certifications; consult a qualified scholar for a personal ruling.
What you get
- Accepts locked-in pension transfers from former employers into a Shariah-screened portfolio
- AAOIFI screening throughout: screened equities, sukuk, and Islamic funds - no conventional bonds
- Active or passive managed strategies matched to time horizon
- Custody at Fidelity Clearing Canada ULC, a regulated Canadian custodian
- Advisors serving BC, Alberta, Ontario, and Quebec
- Sits alongside RRSP/RRIF accounts in one consolidated halal retirement picture
Cost and terms
No management fees or account minimums published on shariaportfolio.ca (crawled 2026-08-05) - Canadian pricing is disclosed in the initial consultation; for reference, the US affiliate uses tiered asset-based fees with a $100,000 minimum for its advisor-led Access program and $1,000 for its Express robo tier - confirm CAD fees and minimums directly
How it compares
Other retirement providers we list in Canada, ordered by HalalWallet Index grade.
| Product | Structure | Shariah oversight | Availability | Grade |
|---|---|---|---|---|
| ShariaPortfolio LIRA - Locked-In Retirement Account (this page) | Wealth Management | Third-Party Certified | 4 provinces | — |
| Manzil LIRA - Locked-In Retirement Account | Wealth Management | Formal Board | every province | A |
Other ShariaPortfolio products
- Wealth Management
Investing · Wealth Management
- RESP - Registered Education Savings Plan
Investing · Wealth Management
- TFSA - Tax-Free Savings Account
Investing · Wealth Management
- RRIF - Registered Retirement Income Fund
Retirement · Wealth Management
- IPP - Individual Pension Plan
Retirement · Wealth Management
- Personal Account (Non-Registered)
Investing · Wealth Management
- Joint Account (Non-Registered)
Investing · Wealth Management
- RRSP - Registered Retirement Savings Plan
Retirement · Wealth Management
- PPP - Personal Pension Plan
Retirement · Wealth Management
- FHSA - First Home Savings Account
Investing · Wealth Management
Where it's available
ShariaPortfolio lists the LIRA - Locked-In Retirement Account as available in 4 provinces.
Availability may vary by product and can change; verify with ShariaPortfolio before applying.
Frequently asked questions
Is the ShariaPortfolio LIRA - Locked-In Retirement Account halal?
Managed under AAOIFI standards: portfolios hold only Shariah-screened stocks, sukuk, and Islamic funds - never conventional bonds, preferred shares, or interest-bearing instruments. Contract structure: Wealth Management. Shariah oversight disclosed by ShariaPortfolio: Third-Party Certified. HalalWallet reports what the provider documents; we do not certify products.
How does the ShariaPortfolio LIRA - Locked-In Retirement Account work?
ShariaPortfolio Canada's LIRA accepts locked-in pension transfers from former employers into a Shariah-screened portfolio - converting a conventional, usually bond-heavy pension balance into AAOIFI-compliant management for the locked-in decades until retirement.
What does the ShariaPortfolio LIRA - Locked-In Retirement Account cost?
No management fees or account minimums published on shariaportfolio.ca (crawled 2026-08-05) - Canadian pricing is disclosed in the initial consultation; for reference, the US affiliate uses tiered asset-based fees with a $100,000 minimum for its advisor-led Access program and $1,000 for its Express robo tier - confirm CAD fees and minimums directly
Where is the ShariaPortfolio LIRA - Locked-In Retirement Account available?
ShariaPortfolio lists this product as available in 4 provinces. Availability can change and may differ by province; verify directly with ShariaPortfolio.
What are the alternatives to the ShariaPortfolio LIRA - Locked-In Retirement Account?
In the same category we also list Manzil LIRA - Locked-In Retirement Account (HalalWallet Index A). Compare every option side by side on our Halal Retirement Accounts hub.
When was this ShariaPortfolio product information last verified?
HalalWallet last verified the ShariaPortfolio LIRA - Locked-In Retirement Account details against ShariaPortfolio's published materials on 2026-08-05. Rates, fees, and availability can change after that date.
How to use this comparison: HalalWallet is an independent educational comparison platform - by design, we do not provide financial, legal, or religious advice. We do the research homework so your final checks are quick and personal.
Product structures and Shariah oversight vary by provider, so finish with three built-in steps:
- Confirm current terms and halal compliance directly with the provider - their quote is final.
- Review the contract structure (Murabaha, Ijara, Musharakah, etc.) and any disclosed Shariah board opinions.
- Bring your shortlist to a qualified Islamic finance advisor or scholar, so the conversation is about your situation, not the basics.
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-08-05
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For time-sensitive claims (rates, fees, province availability), please verify directly with the provider's official documentation and note the retrieval date.