Life income fund (LIF)

A sensible choice for your future

You hold a locked‑in retirement account (LIRA) and you now want to draw a pension from the funds you have accumulated. The Épargne Placements Québec life income fund (LIF) is a beneficial choice for you.

The Épargne Placements Québec LIF offers many advantages:

• Competitive products.
• No management or administration fees.
• You are the sole manager of your funds.
• Your funds are 100% guaranteed by the Québec government, regardless of amount or term.

The LIF is a retirement fund that enables you to draw a life income from the funds in your supplemental pension plan or your locked‑in retirement account (LIRA). The main features of this account are:

• You must transfer your LIRA into a LIF no later than December 31 of the year in wich you reach age 71.
• Each year, you must withdraw a minimum amount from your LIF .
• You can receive payments greater than the minimum withdrawal. These payments are determined based on your needs and in compliance with legal requirements.

Want to open an Épargne Placements Québec LIF or obtain more information? Simply contact one of our investment officers.

As of January 1, 2025, the following rules apply:

• Withdrawals: From age 55, there is no longer a maximum withdrawal or temporary income on the LIF.
• Transfers: Direct transfers of amounts from a LIF to an RRSP or RRIF will no longer permitted.

For more information on LIFs, please visit the Retraite Québec website, which outlines the rules applicable to this type of account.