Life Income Fund

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Life Income Fund

In Canada, a pool of liquidity into which one may deposit pension contributions. The government sets minimum and maximum withdrawals that retirees may make from their life income funds each year. Life income funds are not mandatory.
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Before his career as an author of more than 40 books on finance and investment, and consultant to the Life Income Funds, Larry Chambers was a stockbroker in the 1970s and 1980s.
60,000 in cash withdrawal for policies registered under the Income Tax Act such as RRSPs, RRIFs, Life Income Funds and pension policies.