Life Income Fund (LIF)
Boost retirement income with a LIF
Understanding a LIF
A LIF is a registered retirement income fund similar to a RIF, allowing individuals to draw income from an existing pension plan, but it can only be used for retirement income and not withdrawn as a lump sum. While Canada's Income Tax Act sets the minimum and maximum withdrawal amounts, the specific limits depend on the province where the pension plan was established
Why Open a LIF?
Locked-In Savings
Workplace pension savings can be transferred to a LIRA and converted to a LIF
Flexible Income
Control investments and adjust income within set limits
Beneficiary Protection
Remaining balance is paid to beneficiaries
Regulated Access
Subject to federal or provincial rules, with some exceptions
Transfers
A LIF can be transferred from one institution to another. Reach out to one of our qualified team members for more information
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Copyright 2025 League Savings and Mortgage Company. All rights reserved.
Copyright 2025 League Savings and Mortgage Company. All rights reserved.
