Glossary of Terms

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Labour Sponsored Fund (LSF) - LSFs are pools of workers' savings money which subsidized venture capital to small and medium-sized business.

Life Income Fund (LIF) - Similar to a Registered Retirement Income Fund (RRIF), a LIF can be purchased with pension proceeds when a member terminates employment or retires. A LIF is used to provide a regular retirement income and is subject to minimum and maximum withdrawal limits. LIFs are governed by the Provincial Pension legislations and Pension Benefits Standards Act (PBSA)and the Income Tax Act (ITA). In most provinces, a LIF has to be converted to an annuity at age 80.