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Life Income Fund

A Life Income Fund (LIF) is a retirement income plan using locked-in pension money and the owner of the LIF can control the investments held within the fund. In addition to the requirement for a minimum annual withdrawal (like a RRIF), LIFs also set a maximum withdrawal amount.

Your annual withdrawal must be within these minimum and maximum amounts as specified by legislation. In most provinces, when the LIF holder reaches age 80, the LIF must be converted into a life annuity.

The easiest way to think of a LIF is that it's a RRIF for your locked-in pension money, with a few more restrictions designed to ensure that you have income available for your lifetime.

LIFs vary slightly from province to province, and are not available in P.E.I. and the Northwest Territories. Most provinces require you to have reached age 55 before you establish a LIF, but there is no age restriction in New Brunswick, Quebec, and Alberta.

Contact our office for more info.




Aligned Capital Partners Inc. ("ACPI") is a full-service investment dealer and a member of the Canadian Investor Protection Fund ("CIPF") and Investment Industry Regulatory Organization of Canada ("IIROC"). Investment services are provided through McCosh Private Wealth Management, an approved trade name of ACPI. Only investment-related products and services are offered through ACPI/McCosh Private Wealth Management and covered by the CIPF. Non-securities related services are provided through McCosh Financial Consultants. McCosh Financial Consultants is an independent company separate and distinct from ACPI/McCosh Private Wealth Management.


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