RLIF definition

RLIF means a “restricted life income fund” as defined in Pension Legislation;

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RLIF. – means a restricted life income fund that is registered under the Tax Act and complies with the applicable pension legislation.

RLIF means “restricted life income fund” as defined in applicable pension legislation; “RSP” means a retirement savings plan, as defined in the Act;

Examples of RLIF in a sentence

• Subject to any restrictions imposed by the Act and by Pension Legislation, and after payment to the Annuitant of the minimum amount for the year, the property of the Fund may be transferred to a RLSP or an RLIF, or used to purchase a life annuity in accordance with paragraph 60(l) of the Act.

• If Pension Legislation permits or requires the surviving Spouse to receive a life annuity rather than a lump sum payment, the surviving Spouse may instruct the Trustee to transfer the property of the Fund to an LRSP, a LIF, an RLIF or life annuity as permitted by Pension Legislation and paragraph 60(l) of the Act.

• No amendment, however, will disqualify your Plan as a RIF, LIF, LRIF, Saskatchewan PRRIF, Manitoba PRRIF or Federal RLIF, as applicable.

• In consultation with the Regional Low Incidence Facilitator (RLIF), PDF may participate in state implementation teams and work-groups if requested by MDE.

• Subject to any restrictions imposed by the Act and by Pension Legislation, and after payment to the Annuitant of the minimum amount for the year, the property of the Fund may be transferred to a LRSP, a LIF or an RLIF, or used to purchase a life annuity in accordance with paragraph 60(l) of the Act.

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

• The surviving Spouse may instruct the Trustee to transfer the property of the Plan to an LRSP, a LIF, an RLIF or life annuity as permitted by Pension Legislation and paragraph 60(l) of the Act.

• The statement will show the following information since your last statement: • amounts deposited, their source, the accumulated earnings, the payments made and the fees charged; • cost and current value of your investments; • required minimum amount and additionally, for LIFs, LRIFs and Federal RLIF the maximum permitted amount that can be paid to you in the current fiscal year; • proceeds from the sale of your investments.

• If the Annuitant fails to provide satisfactory written instructions to the Trustee by December 31 of that year, the Trustee shall transfer the property of the Plan into an RLIF opened and registered by the Trustee for such purpose in the name of the Annuitant.

• The surviving Spouse may instruct the Trustee to transfer the property of the Plan to a LRSP, an RLSP, a LIF, an RLIF, an RPP or a life annuity as permitted by Pension Legislation and paragraph 60(l) of the Act.

More Definitions of RLIF

RLIF means a restricted life income fund contract as defined in Applicable Pension Legislation;

RLIF means the Rugby League International Federation;

RLIF or the “Plan” means the restricted life income fund that is a registered retirement income fund established pursuant to the Application Form by the Annuitant with AGF Investments Inc. as agent for B2B Trustco as trustee and issuer, the whole as defined in section 146.3(1) of the Tax Act, that meets the requirements set out in section 20.3 of the Regulations;