What is a Locked-in Retirement Income Fund (LRIF)?
A LRIF is a lifetime retirement income vehicle that gives you the flexibility to set your monthly income between an annual minimum and maximum amount established by legislation. Unlike a LIF, a LRIF does not terminate at the end of the year you reach age 80. LRIFs are currently only available to Alberta, Manitoba, and Ontario members. LRIFs are available from financial institutions (they are not available from the CSS Pension Plan). See How do I purchase a LRIF from a financial institution with my restricted funds in the CSS Pension Plan? Back to Top • What is a Prescribed Registered Retirement Income Fund (PRRIF)? A PRRIF is a retirement income vehicle that gives you very broad flexibility to set your retirement income. Like the LIF and LRIF, there is a minimum amount that must be withdrawn each year from a PRRIF. However, unlike the LIF and LRIF, the PRRIF does not have a maximum annual withdrawal limit. Because a PRRIF does not have a maximum annual withdrawal limit, you must exerci
