What does lif stand for

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Logistics Intelligence File Governmental » Military. Lumbar Interbody Fusion Miscellaneous » Unclassified. Long joint waiting. Someone holding onto a joint too long. But means no offence. LIF is an acronym that comes from the 4 day Kairos retreat.

One the forth day you are supposed to live out Christ's message for you. Wendy British. Fred US English. Tessa South African. How to say LIF in sign language? Examples of LIF in a Sentence William Congreve : Every man plays the fool once in his lif marry is playing the fool all one's lif e, but to marry is to playing the fool all one's lif e long. Popularity rank by frequency of use LIF Select another language:. Please enter your email address: Subscribe. Discuss these LIF definitions with the community: 0 Comments.

Notify me of new comments via email. Cancel Report. Create a new account. List of Partners vendors. A life income fund LIF is a type of registered retirement income fund RRIF offered in Canada that can be used to hold locked-in pension funds as well as other assets for an eventual payout as retirement income.

A life income fund cannot be withdrawn in a lump sum. Owners must use the fund in a manner that supports retirement income for their lifetime. Life income funds are offered by Canadian financial institutions. They provide individuals with an investment vehicle for managing the payouts from locked-in pension funds and other assets. In many cases, pension assets may be held but not accessible if an employee leaves a firm. These assets, usually called locked-in assets, can be managed in other investment vehicles but may require conversion to a life income fund when the owner is ready to begin taking withdrawals.

Life income fund payouts are determined by a government formula that applies to all types of RRIFs. Most provinces in Canada require that life income fund assets be invested in a life annuity. In many provinces, LIF withdrawals can begin at any age as long as the income is used for retirement income.

Once an investor begins taking LIF payouts they must monitor the minimum and maximum amounts that can be withdrawn. Based on the annual statement, the LIF owner must specify at the beginning of each fiscal year the amount of income they would like to withdraw. This must be within a defined range to ensure the account holds enough funds to provide lifetime income for the LIF owner. Qualified investments in a LIF include cash, mutual funds, ETFs, securities listed on a designated exchange, corporate bonds, and government bonds.

Here are some general rules regarding a LIF:. Setting up a LIF has several advantages:. Of course, there also disadvantages to setting up a LIF. They include:.