LIF definition

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

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

• Some or all of the amount transferred or to be transferred to this LIF is attributable, directly or indirectly, to a pension benefit credit or funds in a PRPP account that my current or former spouse or common-law partner earned as a member of a pension plan or a member of a pooled registered pension plan.

• We agree that the terms and conditions of this addendum, together with the terms and conditions of the RRIF contract to which this addendum is attached, form the LIF contract between us.

• Some or all of the amount transferred or to be transferred to this LIF is attributable, directly or indirectly, to a pension benefit credit that I earned as a member of a pension plan or to funds in a PRPP account that I earned as a member of a pooled registered pension plan.

• A life income fund (LIF) is a registered retirement income fund (RRIF) to which the additional terms and conditions in this addendum apply.

• The money in your LIF is locked in, and may be used only to provide you with retirement income.

More Definitions of LIF

LIF means a life income fund, that is a RIF and that meets the conditions set out in section 18 and following 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 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 registered retirement income fund established in accordance with the Tax Act that is locked-in in accordance with the Regulations and meets the conditions set out in the Directive, known as a Life Income Fund;

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 “LIF”, “life income fund” or “life income fund contract” as defined in pension legislation;

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