§ Calculator · Retirement

LIF withdrawal range

What this is

How much you can pull from a LIF this year

A LIF (Life Income Fund) is the locked-in version of a RRIF. Comes from a former employer\'s DB/DC pension that was commuted into a LIRA, then converted. UNLIKE a RRIF, a LIF has BOTH a minimum AND a maximum withdrawal each year — government doesn\'t want you blowing the pension money in year 1.

·Minimum: same schedule as RRIF (CRA Schedule 7). Age 65 = 4.0%, age 71 = 5.28%, age 95+ = 20%.
·Maximum: formula based on age + benchmark federal long-bond yield. Caps usually 6-10% of balance/year.
·Federal LIFs and provincial LIFs (Ontario, Quebec, etc.) have slightly different max formulas. This shows the federal version.

LIF balance (CAD)Age at start of year

Minimum %

4.00%

Maximum %

7.38%

Minimum CAD

$11,200

Maximum CAD

$20,664

Flexibility (max − min): 946400.00% of balance — room to adjust draw within the rules.

Educational. Not financial advice. Provincial LIF rules (Ontario LIF, Quebec LIF, BC LIF) differ from federal in their max formula. Some provinces also allow a one-time 50% unlock to a RRSP — check your plan rules.