Life Income Fund (LIF)

A form of registered account similar to a registered retirement income fund (RRIF) , used to hold funds which have been transferred from a pension plan or LIRA. LRIFs are subject to the same minimum withdrawals as a RRIF but are also subject to maximum withdrawals as set out by federal and/or provincial pension legislation. LIFs have different withdrawal factors than LRIFs.

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August 17th, 2022