For LIF minimum and maximum withdrawal amounts, see our detailed table.
71 years
You must transfer the funds from your LIRA to a LIF no later than December 31 of the year you turn 71.
Varies depending on your age
The government requires you to make a minimum withdrawal each year. The percentage used to calculate the amount increases with your age. Withdrawals that exceed the minimum amount are taxed as income.
Varies depending on the province
The maximum withdrawal you can make is calculated based on your age, the balance of your LIF, and the LIF reference rate that is set each year. There is an annual limit on how much you can withdraw from your LIF, unlike a RRIF.
Speak to an advisor to get help and answers to your questions.
Approaching retirement? It's time to max out your RRSP and use up any remaining contribution room!
For LIF minimum and maximum withdrawal amounts, see our detailed table.
Speak to an Investment and Retirement Specialist to find the solution that's right for you.
1-888-270-3941
Monday to Thursday,
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