LIF definition

LIF means a “LIF” or “life income fund” as defined in Pension Legislation;

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LIF means the life income fund established by the Issuer for your benefit under this contract. (« FRV »)

LIF or “life income fund” means a registered retirement income fund that is a registered retirement savings arrangement as defined in clause 2(as) of the Act and meets the requirements in Sections 205 to 210 and Schedule 4: Nova Scotia LIF Addendum;

Examples of LIF in a sentence

• It is the sole responsibility of the Annuitant to ensure that any such property is a qualified investment for a LIF and to convert any unqualified investment into cash.

• If, in any fiscal year of the Fund, an additional transfer is made to the Fund and that additional transfer has never been under a LIF before, an additional withdrawal will be allowed in that fiscal year.

• Upon retirement a monthly pension benefit (annuity) or LIF is purchased using the full value of Member's Account at the time of retirement.

• Together, this addendum and the RRIF contract to which it is attached form your LIF contract.

• This additional amount of withdrawal will not exceed the maximum amount that would be calculated under this Addendum if the additional transfer were being transferred into a separate LIF and not this Fund, with paragraph 12 applying.

More Definitions of LIF

LIF means a life income fund, that is a registered retirement income fund (within the meaning in the Tax Act), and that meets the conditions set out in section 18 of the Regulation;

LIF means a registered retirement income fund, as defined in subsection 146.3(1) of the Tax Act that meets the requirements set out in section 20.1 of the Regulation;

LIF means a RRIF which meets the requirements, where not inconsistent, of a “life income fund” under the Federal Pension Regulations;

LIF means an arrangement which has been registered as a registered retirement income fund under the Tax Act and which meets the requirements of the Pension Rules including, without limitation, section 22 of the Regulations with respect to life income funds;

LIF means a prescribed retirement savings arrangement, known as a life income fund, that is a RIF that meets the conditions set out in Schedule 1 or in Schedule 1.1 of the Regulation;

LIF means a RRIF that meets the requirements of either Schedule 1 or Schedule 1.1 of the Regulation;

LIF means the life income fund established by the Issuer for your benefit under this contract. («FRV»)