AEGEC Financial Inc. can bring you closer to the future you see for yourself in many ways – from creating personalized savings strategies for all your short- and long-term goals, to selecting the right investment products for you, working through estate considerations and setting up insurance protection for you and your loved ones.
Contact
- +1-226-899-2425
- 415 Dolman Street, Breslau, ON, N0B1M0, Canada
- arvind@aegec.ca
Description
Type: Retirement Income Plan
Similar to a RIF, a LIF is specifically designed to hold pension funds and provide income during retirement. The key difference is that a LIF has both minimum and maximum annual withdrawal limits. This type of account is used primarily for individuals with pension funds in a LIRA or other locked-in accounts, ensuring that retirement income lasts throughout the retiree’s life.