Life Income Fund Calculator

The investment return calculator results show the invested total capital in green simple interest total in red and the compound interest total in blue.

Life income fund calculator. Rrif lif calculator learn about which type of insurance is best for you critical illness disability and life insurance can all help you prepare for the unexpected. The prescribed lif minimum amount is calculated the same way as a rrif by multiplying the market value of your lif at the beginning of the calendar year by the prescribed factor based on your age. All charts and illustrations are for illustrative purposes and are not intended to illustrate the true performance of any investment funds or portfolios in which you may invest your assets. 1 2020 the great west life assurance company london life insurance company and the canada life assurance company became one company the canada life assurance company.

There is an annual limit on how much you can withdraw from your lif unlike a rrif. The data used for the calculation is incorrect. You should not rely on the results as an indication of your funds performances or your financial needs and we recommend. To select the payment frequency click on the drop down box and select the appropriate frequency from the box.

Calculate using spouse s birth date. It will take some time to update our websites materials and forms so until we re done all references to great west life or london life are to be understood as referring to the canada life assurance company. The simulation tool calculates the life income and temporary income based on the information you enter. Speak to an advisor to get help and answers to your questions.

Life income fund lif and locked in retirement income fund lrif income and tax sheltered growth if you left a job where you had a pension plan you may have transferred your pension entitlement to a locked in retirement account lira or locked in rrsp where it has been invested according to your directions. Complete the annual contribution escalation if the investment amount is paid on a regular basis not a single payment and escalates every year. Retirement income calculator these calculators are for educational purposes only. You can click on them in the bottom legend to hide or make them visible again.

Age year open value gross payment withholding tax net payment total annual net payment annual payment opening balance. The maximum withdrawal you can make is calculated based on your age the balance of your lif and the lif reference rate that is set each year. The income that your financial institution pays to you may be different if.