A life income fund (LIF) is similar to an RRIF in the sense that it receives funds from a private pension plan or a locked-in retirement account.

Major Advantages

• LIFs offer planholders substantial flexibility with respect to the terms and conditions of their investments and withdrawal amounts.

• Planholders determine the periodic income they wish to receive and can change the amount at any time up to the limits prescribed by law.

• Since 2005, your LIF can hold up to 100% foreign content.
   

Main Features

• The minimum and maximum annual withdrawal amounts from an RRIF are determined by law on the basis of your age and the balance in your LIF. Unlike an RRIF, an LIF has a maximum annual withdrawal limit. Withdrawals from an LIF are added to the investor's annual income.

• You choose the withdrawal frequency and your investment instruments and terms and conditions, and may alter them as needed.

• Lump sum withdrawals from an LIF are permitted, subject to an annual maximum.

• Under federal law, the balance of an LIF under federal jurisdiction may be withdrawn or transferred into a RRIF when an annuitant turns 90.

• All Desjardins Financial Security investments are LIF eligible:

• guaranteed investment certificates
• multistrategy investments 
• segregated funds
• mutual funds
• securities
   

Saving Up for a Special Project

Want to save for a major purchase, a special project, a better education for your children? Assess how much you need to save up to carry out your projects.

Getting Advice

To find out more about this product, Desjardins Financial Security offers you various possibilities :   Call us at 1-866-838-7553 or e-mail us. Complete the form Please Have a Representative Contact Me