LIF Payment
Calculate your LIF payment and see how those payments change over time.
| Alberta |
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100,000
|
|
71
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.
Input Error: Start age
Enter an age between 55 and 100. |
|
90
End payments at age
Enter the age that you want payments to end.
Input Error: End age
Enter an age between 71 and 100. |
|
4.00%
Input Error: Rate of return
Enter a value between and %. |
|
|
|
|
0
|
|
1.50%
Inflation rate
This inflation rate is used to index the annual fixed payment.
Input Error: Inflation rate
Enter a value between and %. |
LIF Payment Schedule
Assumptions
Maximum Life Income Fund (LIF) withdrawal percentages are effective January 1, 2024.
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 If the Minimum amount is greater than the Maximum, the Minimum amount must be withdrawn.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
Maximum Life Income Fund (LIF) withdrawal percentages are effective January 1, 2024.
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 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
