The LIF with FlexiFonds products

Transfer your LIRA to a life income fund (LIF) and enjoy regular retirement income.

OPEN AN ACCOUNT

ico-transfert

Save up to $200 on FlexiFonds transfer fees[1]

Transfer your RRSP, TFSA, RRIF, LIRA or LIF from another financial institution to a FlexiFonds product to take advantage of this promotion.[1] We'll even take care of the paperwork for you!

See the promotion

Why invest in a life income fund (LIF)?

The LIF is a disbursement vehicle that allows you to transfer money, tax-free, from a locked-in retirement account (LIRA) or other supplemental pension plan (e.g., LRSP) and receive a regular retirement income. The withdrawal frequency is flexible and can be changed as needed.

A savings vehicle that can be used to:

Enjoy your retirement

LIF: a flexible and customizable vehicle for retirement withdrawals

Tax-sheltered investments

The LIF allows you to draw retirement income from the money accumulated in your LIRA. Money transferred into it continues to grow, tax-free, until it is withdrawn.

If you're almost 71 years old

The legal deadline for holding a locked-in retirement account (LIRA) is December 31 of the year in which you turn 71. When you reach this point, you must convert your LIRA to a LIF.

Withdrawal amounts

Both provincial and federal LIFs have a minimum annual withdrawal requirement, which is a percentage of the fund based on your age. These amounts are calculated in the same way as for RRIFs.

  • Provincial LIF: Starting at age 55, there is no annual withdrawal limit, but a 6% cap applies before that age.
  • Federal LIF: The annual withdrawal limit for federal LIFs is a percentage of the fund based on your age.

The FlexiFonds advisory team will help you open your LIF account

To enrol in a LIF with FlexiFonds products, call our FlexiFonds advisors. They'll help you determine your investor profile and guide you through the decisions you need to make when opening your LIF.[2]

Our FlexiFonds mutual fund advisors offer a trusted service, putting their expertise and skills at your disposal, with zero pressure and zero commission. Their only goal is to help your dreams become reality by offering you sound, objective advice.

Call us at 1-844-595-3787

Get to know our FlexiFonds advisory team Get to know our FlexiFonds advisory team

70% of FlexiFonds mutual fund assets are related to the local economy

Investing with FlexiFonds products is a great way to keep your savings local.

Optimize your retirement with our flexible solutions

Comprising one of our three mutual funds, the LIF with FlexiFonds products allows you to enjoy retirement income while letting your savings grow.

FlexiFonds Conservative

You prioritize income stability over long-term appreciation of your savings?

Discover Conservative Fund

FlexiFonds Balanced

Looking for balance between income and savings growth?

Discover Balanced Fund

FlexiFonds Growth

Looking for long-term savings growth and, to a lesser extent, income?

Discover Growth Fund

Most frequently asked questions

FlexiFonds
What is a LIF?
A life income fund (LIF) is a registered fund that serves as an extension of a LIRA or LRSP when the investor is ready to cash out, no later than age 71. Money in a LIF continues to grow tax-free until it is withdrawn.
More Details : What is a LIF?
FlexiFonds
What's the difference between a LIF and a RRIF?
Both LIFs and RRIFs are tools for withdrawing savings in retirement. Money in a LIF is transferred over from a LIRA or other supplemental pension plan (e.g., LRSP), while money in a RRIF is transferred over from an RRSP. Both vehicles have minimum annual withdrawal amounts based on the owner's age and the value of the fund.
More Details : What's the difference between a LIF and a RRIF?
FlexiFonds
I'd like to transfer the money I've accumulated in my pension plan to a life annuity. Do you offer this product at the Fonds?
You can transfer money from your former pension plan to a LIRA, LIF, or life annuity. FlexiFonds de solidarité FTQ does not offer a life annuity product, but we do offer LIRA and LIFs.
More Details : I'd like to transfer the money I've accumulated in my pension plan to a life annuity. Do you offer this product at the Fonds?
FlexiFonds
How long does it take to transfer to a LIRA or LIF?

From an external institution to a FlexiFonds product (LIRA to LIF, LIRA to LIRA, or LIF to LIF):
Usually 3 to 6 weeks, depending on the institution.

From a pension plan to a FlexiFonds LIRA/LIF:
This varies widely from one manager to another.

More Details : How long does it take to transfer to a LIRA or LIF?
FlexiFonds
When should I apply to open a LIF?
When you are ready to disburse your LIRA or other supplemental retirement savings plan (e.g., LRSP). You can open a LIF at any age.
More Details : When should I apply to open a LIF?
FlexiFonds
What happens to my LIF when I die?
Upon death, the funds in the LIF are first intended for the deceased person's spouse. If the deceased is single, the amounts are paid to the designated beneficiaries or to the estate.
More Details : What happens to my LIF when I die?

Give us a call, and let's talk about your situation!

Monday to Thursday, from 9 a.m. to 8 p.m., and Fridays from 9 a.m. to 5 p.m.

1-844-595-3787

These articles may also be of interest to you:

  • 1

    By participating in the Transfer Fee Refund Promotional Offer (the "Offer"), and subject to applicable laws and the current prospectus, you (the "Client") acknowledge that you have read, understand, and agree to be bound by the following terms and conditions.

    In accordance with the terms of the offer, an amount equivalent to the transfer fees incurred, up to a maximum of $200, will be reimbursed to any client who transfers and invests all or part of a registered investment account such as an RRSP, TFSA, RRIF, LIRA or LIF with a minimum value of $5,000 (the "Eligible Account") from another financial institution to FlexiFonds de solidarité FTQ inc. ("FlexiFonds").

    This Offer is valid for all existing or new FlexiFonds Clients who have an active account with FlexiFonds. To be eligible for this refund, the Client must submit a transfer request from an Eligible Account between 8:00 a.m. ET on February 2, 2023, and 11:59 p.m. ET on May 31, 2023 (the "Eligibility Period").

    This offer is intended for any current client or any new client of FlexiFonds who has an active account with FlexiFonds. The Fonds de solidarité FTQ may end this promotional offer without notice.

    The reimbursement of transfer fees shall be equal to the lesser of: (i) the actual transfer fee for an Eligible Account; or (ii) a maximum amount of $200 per Eligible Account, whichever is less. There is no limit to the number of Eligible Accounts a Client can transfer during the Eligibility Period. Partial transfers from the same Eligible Account are eligible for a single reimbursement only. 

    All transfer fee refunds shall be made by issuing an equivalent amount of FlexiFonds shares, directly credited to a FlexiFonds account in accordance with the same investment instructions applicable to the proceeds of the Eligible Account being transferred. Any request to redeem or switch FlexiFonds units received within 90 days of the end of the transfer process shall result in the Offer being rendered null and void, and the Client will be required to repay all transfer fees refunded by FlexiFonds.

    Transfer fees will be refunded in Canadian dollars after the transfer process is complete. The refunded amount shall not count as an RRSP, TFSA, RRIF, LIRA or LIF contribution, and no tax receipt will be issued. FlexiFonds mutual fund investments are not eligible for the Labour-sponsored funds tax credit. Transfer fee refunds may have tax implications. For more information, we recommend that the Client consult with their advisor.

    Under this Offer, only the transfer fees shall be refunded. No refunds will be made for transferring an Eligible Account that is exempt from transfer fees. The Client is responsible for all redemption fees, liquidation fees, commissions, and any other fees associated with transferring the account.

    Transfer requests that do not meet the eligibility requirements stated in the prospectus shall be denied. Fonds de solidarité FTQ and FlexiFonds reserve the right to suspend, cancel, or modify the terms and conditions of the offer at any time and without prior notice, and reject all liability for any loss, damage, or other harm that may result from taking part in the offer and transferring an Eligible Account.

    FlexiFonds reserves the right to suspend, cancel, or modify the terms of this Offer at any time without prior notice. FlexiFonds may also refuse transfer requests from Clients who do not meet the eligibility requirements as stated in the prospectus.

    FlexiFonds is not liable for any loss, damage, or harm that may arise from taking part in this Offer and transferring an Eligible Account.

    2

    A registered mutual fund representative of the mutual fund broker FlexiFonds de solidarité FTQ inc. will determine the financial product that best suits your investor profile. It is possible that no financial product offered by the broker is suitable for your investor profile.

    Information
    All the information and data provided are for information purposes only; they are not intended to provide advice or recommendations of a financial, legal, accounting or tax nature with respect to investments. Although they are deemed reliable, no representation or warranty, express or implied, is made as to the accuracy, quality or completeness of this information and data. The opinions expressed should not be construed as a solicitation or an offer for the subscription or sale of shares of the Fonds de solidarité FTQ or the units referred to herein and should not be viewed as a recommendation. We suggest you consult your legal advisor.

    FlexiFonds de solidarité FTQ Inc.
    The units of the FlexiFonds funds are distributed solely in Québec by FlexiFonds de solidarité FTQ inc., a mutual fund dealer wholly owned by the Fonds de solidarité FTQ. FlexiFonds de solidarité FTQ inc. does not distribute the units of any other mutual funds. Management fees and other expenses may be associated with mutual fund investments. Please consult your advisor and read the prospectus and the fund facts documents before making an investment. The units of the FlexiFonds funds are not covered by the Canada Deposit Insurance Corporation nor any other government deposit insurer. The FlexiFonds funds are not guaranteed, their values change frequently, and past performance may not be repeated.

    Trademarks
    FlexiFonds, FlexiFonds Conservative, FlexiFonds Balanced and FlexiFonds Growth and the other trademarks displayed on this site are registered trademarks of the Fonds de solidarité FTQ. Other companies' trademarks are used with permission or under license. All rights reserved. Trademark references on this site should not be construed as an implied authorization to use such trademarks.

    Access and site availability
    The website is the property of Fonds de solidarité FTQ. By using the website, you agree to the following terms of use. You acknowledge and agree that the Fonds de solidarité FTQ may restrict, suspend or revoke your access to or use of all or part of the site, including links to third party sites, at any time, with or without cause, in its absolute discretion, without notice or liability. The Fonds de solidarité FTQ does not guarantee that this site will be available and meet your requirements or that access to this site will be uninterrupted. Availability downtime may occur at any time, without notice, including downtime required for maintenance or technical reasons.