Manzil LIRA - Locked-In Retirement Account

Halal Retirement Accounts in Saskatchewan

Manzil's LIRA takes the pension you left behind at a former employer and moves it into halal management: the account holds vested pension transfers only - personal cash contributions are not permitted - with funds generally locked until age 55 and unlocking exceptions for hardship, shortened life expectancy, or small balances. Growth is tax-deferred in AAOIFI-screened portfolios managed by Corex Financial under Manzil's named Shariah Supervisory Board, whose compliance certificates are published in English, French, and Arabic. The account converts to a LIF or life annuity by December 31 of the year you turn 71. Assets sit with CIRO-member custodians covered by CIPF.

Leaving an employer usually means leaving a conventional pension behind, invested in whatever bond-heavy default fund the plan chose. Manzil's LIRA lets you move those locked-in funds into an AAOIFI-governed halal portfolio instead, managed by Corex Financial with tax-deferred growth until the account converts to a LIF or annuity at 71. Governance is unusually transparent - a named three-scholar Shariah Supervisory Board with certificates published in three languages. Locked-in rules mean this is preservation money, not accessible savings: withdrawals before 55 require hardship or other narrow exceptions. Canadian fees are unpublished, so confirm before transferring. Best for Canadians with a pension from a past job who want it managed to Shariah standards until retirement.