Life Income Funds, like RRIF's, are tax-sheltered plans but are designed to pay-out your accumulated registered pension plan or locked-in registered retirement savings assets over a number of years.

With a LIF, you determine and control your investment options but payments are determined by a government formula.

The key difference between the LIF and RRIF is that you will be required to buy a life annuity with the assets remaining in the LIF in the year you reach age 80.

Contact a Brown Financial representative today, and arrange a meeting to discuss your retirement plan.