Pension monies always eirther stay in a pension or go to a locked-in pension, since the funds are not available to you until you meet the rules of the origianl pension (ie,. 55 yrs old, 65, etc according to the pension rules).
So, if you have achoice, it is likely best to take the funds as a LIRA.
Either way, when the funds come out they will be 100% taxable in both US and canada, but the lira gives the opportunity to manage the funds and may allow you (if non-resident) to get the funds out earlier than if you leave it as a pension.
tax free savings
Moderator: Mark T Serbinski CA CPA
