Investments - Investment Vehicles


LIF – Life Income Fund

A life income fund (LIF) is similar to a RRIF. Assets in a LIF usually come from a supplementary retirement plan with an employer (LIRA or Locked-In RRSP).

Withdrawals must be made yearly from a LIF. However, unlike the RRIF where there is no upper limit of withdrawal, there is a yearly maximum withdrawal amount. All income from a LIF is taxable.

 

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