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Where do you live?
If you do not see your province or territory listed, please select Federal for the legislation governing your plan.
Alberta
LIF value
100,000
Start payments at age
71
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Start payments at age
The earliest you can start to withdraw from a LIF in this calculator is age 55 and you must start by age 71.
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Input Error: Start age
Enter an age between 55 and 100.
End payments at age
90
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End payments at age
A LIF must be converted to a life annuity by age 80 in Newfoundland.
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Input Error: End age
Enter an age between 71 and 100.
Rate of return
4.00%
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Input Error: Rate of return
Enter a value between and %.
Fixed payment
0
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Input Error: Fixed payment
Please select an income stream that is greater than the required minimum $.
Inflation rate
1.50%
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Inflation rate
This inflation rate is used to index the annual fixed payment.
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Input Error: Inflation rate
Enter a value between and %.
LIF Payment Schedule




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Assumptions
Maximum Life Income Fund (LIF) withdrawal percentages are effective January 1, 2021.
LIF payments are annual amounts and are made at the start of the year. Maximum LIF calculations for British Columbia, Alberta, Manitoba and Ontario are based on the greater of 1) the maximum withdrawal percentage factor and 2) the previous year's investment returns. For Manitoba, this calculator does not factor in the 6% of the value of transfers from a LIRA or pension plan during the current year that would be added to the previous year's investment returns. Maximum LIF calculations for New Brunswick, Nova Scotia, Newfoundland, Quebec, Saskatchewan and Federal jurisdications are based on the maximum withdrawal percentage factors. If the type of payment is Maximum, the actual payment will be greater of the Minimum and Maximum amounts. If the Minimum amount is the greater than the Maximum, the Minimum amount must be withdrawn. If the type of payment is Fixed, the actual withdrawal will be the lesser of 1) the greater of the Minimum and Fixed amounts and 2) the Maximum amount.

Disclaimer
This calculator is for educational purposes only. All charts and illustrations are for illustrative purposes and are not intended to illustrate the performance of any specific investment funds or portfolios. Calculations within this calculator consider any maximum and minimum withdrawal amounts in accordance with applicable pension laws and CRA regulations. You should not rely on the results as an indication of your funds' performances and your financial needs and we recommend that you seek your own financial, investment, tax, legal or accounting advice. The information herein shall not be considered as investment advice or as a recommendation to enter into any transaction. Professional advice should be obtained prior to acting on the basis of this information. The deduction of advisory fees, brokerage or other commissions and any other expenses that would have been paid may not be reflected in the calculation results. Segregated Fund contracts are issued by The Empire Life Insurance Company ("Empire Life"). A description of the key features of the individual variable insurance contract is contained in the Information Folder for the product being considered. Any amount that is allocated to a Segregated Fund is invested at the risk of the contract owner and may increase or decrease in value. Please read the information folder, contract and fund facts before investing. ® Registered trademark of The Empire Life Insurance Company. Policies are issued by The Empire Life Insurance Company. ©Copyright 2021 Ativa Interactive Corp. All rights reserved. Powered by Ativa.com