Characteristics of a life income fund (LIF)
Important notice - 2021
See our Frequently Asked Questions for details on the
temporary easing measure we have implemented regarding
LIF withdrawals during the COVID-19 pandemic.
Please note that our
LIF Quick Calc tool, which makes it possible to determine the amounts that you can withdraw from an
does not take into account the measure and will not be modified during the outbreak.
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