A Life Income Fund (LIF) is a specific type of registered retirement income fund (RRIF) from which you can draw a retirement income (payment).
When you buy an annuity, you exchange a lump sum of money for a lifetime income.
Group LIF offered to members of the MUPP and SEU Pension Plans
A variable benefit (VB) allows MUPP members to receive a life-income type payment directly from the pension plan.
