Characteristics of a life income fund (LIF)
A life income fund is a special registered retirement income fund (RRIF) into which a person can transfer the amounts that are in his or her supplemental pension plan or locked-in retirement account (LIRA).
RRIFs, which have no ceiling on withdrawals, it is not possible to withdraw from an
LIF more than the maximum authorized for the year.
To receive a retirement income from an