Life Income Funds (LIFs)
- You control the types of investments held in your LIF
- Provides some flexibility in income withdrawals. LIF's feature a minimum annual required withdrawal and also a maximum annual allowed withdrawal, both based on age
- Available for those with locked-in funds in RRSP's or Registered Pension Plans who want a choice of investments and income level
Financial Services Regulatory Authority of Ontario (FSRAO)
FSRAO's role is to protect depositors of Ontario credit unions. All insurable non-registered deposits are covered up to $250,000. Insurable deposits in registered accounts have unlimited deposit coverage. This is free automatic coverage for you our members!