LIF Calculator

Estimate withdrawals from your LIF in retirement and see how long your savings will last.

A life income fund (LIF) is a tax-sheltered account similar to a registered retirement income fund (RRIF). A LIF can be used to hold and consolidate locked-in pension assets for eventual payout as retirement income.

Use the LIF Calculator to better understand how much income you can expect and track the potential future value of your LIF.

LIF Payment Calculator

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.
End payments at age
A LIF must be converted to a life annuity by age 80 in Newfoundland.
Inflation rate
This inflation rate is used to index the annual fixed payment.


Use left and right arrows to navigate between tabs.
Age Value at
Start year
Annual Payment Withdrawal
Value at
End Year

This calculator is for educational purposes only. All charts and illustrations are for illustrative purposes only and are not intended to illustrate the performance of any security or portfolio. You should not rely on the results as an indication of your financial needs and we recommend that you seek your own financial, investment, tax, legal or accounting advice nor shall the information herein be considered as investment advice or as a recommendation to enter into any transaction. Professional advice should be obtained prior to acting on the basis of this information. The deduction of advisory fees, brokerage or other commissions and any other expenses that would have been paid may not be reflected in the calculation results. ©Copyright 2021. All rights reserved.



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