OSPC - FAQS - Overview of Manitoba Pension Laws

Life Income Fund (LIF)

  1. What is a Life Income Fund (LIF)?

    A Life Income Fund (LIF) is an investment vehicle that provides retirement income and must be at least the minimum amount stated in the federal Income Tax Act and the maximum amount stated in the regulations under the Manitoba's The Pension Benefits Act. The Office of the Superintendent - Pension Commission maintains a list of financial institutions permitted to offer LIFs.

  2. How can I access my Life Income Fund (LIF)?

    LIF funds that are governed under the Manitoba regulations may be used at any age to provide retirement income up to the maximum amount allowed by the LIF. The funds may not be withdrawn as a lump sum, cash payment at any age. Bulletin 2 provides further information.

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