Life Income FundLIFLike an RRIF, but specifically for locked-in pension funds. It provides retirement income under specific rules for payouts.7 Locked-In Retirement AccountLIRAA type of RRSP designed to hold pension funds that have been transferred out of a pension plan. Funds are "locked-in"...
What are the rules and tax implications of a life income fund? Like LIRAs, LIFs are tax-sheltered. This means you don’t pay taxes on LIF funds until you withdraw them, at which point they are part of your taxable income. Come tax time, the financial institution where you opened the...
LifeIncomeFund-MinimumandMaximumWithdrawals TheOntariolifeincomefund("LIF")isatax-deferredretirementsavingsarrangementwhichisacceptablefor registrationundertheIncomeTaxAct(Canada),(the"ITA")asaRegisteredRetirementIncomeFund(a"RRIF"). However,nolocked-inmoniesmaybetransferredtoaRRIFforwhichthespecimendocumentsubmitted...
LIF Lifetime (Cable Network) LIF Leukemia-Inhibitory Factor LIF Laser Induced Fluorescence LIF Life Income Fund (Canadian retirement plan) LIF Logical Interface LIF Leukemia Inhibitory Factor LIF Läkemedelsindustriföreningen (Sweden) LIF Libertad, Igualdad, Fraternidad (Spanish: Liberty, Equality, ...
Life Income Fund Commonly known as a LIF, this is one of the options available to locked in Registered Pension Plan (RPP) holders for income payout as opposed to Registered Retirement Savings Plan (RRSP) holders choice of payout through Registered Retirement Income Funds (RRIF). A LIF must ...
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Thesaurus Legal Related to Life in prison:death penalty,Bernie Madoff life imprisonment n (Law) (in Britain) an indeterminate sentence always given for murder and as a maximum sentence in several other crimes. There is no remission, although the Home Secretary may order the prisoner's release ...
a system of measures under which a monetary (insurance) fund is established to compensate for losses or to pay other sums of money in cases of natural disasters, accidents, and other contingencies. Insurance, as K. Marx pointed out, is an economic necessity because social production needs fund...
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4for life until a person’s death, or until the end of their working lifeThe balance of the pension fund is used for an annuity giving a guaranteedincome for life.Few people can count on having a job for life.語源 life Old English lif ...