Life Income Fund (LIF)

Transfer your money tax-free for retirement income.

Is this savings fund for you?

  • You wish to transfer all or part of the money from a locked-in retirement account (LIRA) or a locked-in RSP (LRSP).
  • You are leaving your job or taking early retirement and want to transfer the money accumulated in your employer’s pension fund.

Main feature  :Tax-sheltered investment income

Total or partial withdrawal :Lump sum withdrawals possible; periodic withdrawal within the minimum and maximum limits set by law

Federal and Ontario LIFs :A part of the funds may be released subject to legal conditions and limits


LIF investment options

Several investments are LIF-eligible. Select the investments that best suit your profile. However, you must make sure that your LIF portfolio includes at least one investment from which you can make regular withdrawals and, if required, lump-sum withdrawals.

Personalized Annuity LIF
  • Term savings: interest rate guaranteed until maturity.
  • 1- to 5-year terms.
  • You select the type of periodic (minimum, fixed, indexed) withdrawal.
  • You select the withdrawal frequency (weekly, every two weeks, semi-monthly, monthly, quarterly, semi-annually or annually).
  • You may have more than one Personalized Annuity LIF to diversify your investments.
Conventional LIF
  • A combination of regular savings and term savings.
  • Regular annuity payments are made from the regular savings account portion. Term deposits are transferred annually to your savings account to provide the funds required for regular payments and withdrawals.
  • Regular savings interest rate is based on market rates.
Market-linked Guaranteed Investments LIF
  • Capital 100% guaranteed.
  • Returns based on stock market performance or dynamic portfolio management of assets from a variety of stock markets by experts.
  • Terms vary with current issues
Funds LIF
  • A range of funds that are 100% LIF-eligible.
  • No transaction (load, transfer or repurchase) fees.
  • For easy access to all financial markets.
LIF-Annuity combination An attractive option for some people.

  • The LIF portion ensures investment income flexibility.
  • The annuity portion ensures retirement income stability.


Retirement income amount and frequency
  • Flexible.
  • Can be changed at any time, provided that the annual minimum and maximum withdrawal amounts are met.
  • Frequency of payments: monthly, quarterly, semi-annually or annually.
  • Funds are unseizable.
  • At death, LIF balance is transferred to surviving spouse or, in certain conditions, your estate.
  • Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA)


More information

A LIF does not have to be converted into an annuity when you turn 80. You must convert your LIRA or Locked-In RSP into a LIF no later than December 31 of the year you turn 71.

You only have a LIRA or Locked-In RSP if you have left a job or retired before age 55 and transferred the funds in your name from a company pension plan to one of these accounts.

Did you know?

To help you achieve your retirement goals, the Caisse populaire Guaranteed Investment Funds will provide you with a guaranteed and predictable income, regardless of market fluctuations.

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