Requirement under provincial pension legislation that states that a pension benefit earned after a certain date cannot be withdrawn or forfeited if the employee on termination of employment has attained a certain age or has completed a certain period of service or plan membership.
Pension funds are locked in after two years of plan membership. These funds can not be withdrawn in cash or used to provide you with a pension income before the earlier of age 55 or the early retirement date under the plan from which the funds originated.
Describes assets that cannot be withdrawn from an RRSP until retirement. The transfer of a pension to an RRSP may result in some or all of that RRSP being "locked-in".