Hey folks, I’m trying to find a reliable credit union here in Canada that can help me set up a Life Income Fund. I’ve never done this before and could use some guidance. Anyone with experience?
You might want to check out BCU Financial. Here’s the link: http://bcufinancial.com/personal/investment/registered-plans/life-income-fund It’s Buduchnist Credit Union, one of the largest Ukrainian credit unions in Canada. They’ve got a solid reputation and can guide you through RSPs and specifically a life income fund. A LIF is basically a type of registered pension account that lets you receive income from your locked-in retirement savings. If you have pension funds from past jobs, you can transfer them into a LIF when you retire and withdraw money each year, following the limits based on age and account size. I’ve been with BCU for years, and they’ve always handled everything smoothly.
You might want to check out BCU Financial. Here’s the link: http://bcufinancial.com/personal/investment/registered-plans/life-income-fund It’s Buduchnist Credit Union, one of the largest Ukrainian credit unions in Canada. They’ve got a solid reputation and can guide you through RSPs and specifically a life income fund. A LIF is basically a type of registered pension account that lets you receive income from your locked-in retirement savings. If you have pension funds from past jobs, you can transfer them into a LIF when you retire and withdraw money each year, following the limits based on age and account size. I’ve been with BCU for years, and they’ve always handled everything smoothly.