LIRA to LIF: Ontario minimum and maximum
Locked-in pension money (a LIRA) is usually converted to a Life Income Fund. Each year you must take at least the RRIF minimum and can take no more than a maximum set by the pension regulator. These are Ontario rules; other provinces and federally regulated plans differ.
Assumptions
- Minimum = RRIF prescribed factor for your age on January 1.
- Maximum = greater of last year's investment earnings or the FSRA table percentage for the age you reach during the year (based on a 6% rate while long-term bond yields are below 6%).
- Ontario-regulated LIFs only. Other provinces and federal plans use different formulas; unlocking options (e.g. one-time 50% transfer, small balance, financial hardship) are not modelled.
General information, not financial advice. This calculator gives rough estimates from simplified assumptions. It does not know your full situation. Check with a qualified professional and the official sources before making decisions.
Sources
- FSRA (Ontario): LIF and LRIF maximum annual income payment table
- Canada.ca: RRIF chart of prescribed factors
Figures checked October 16, 2026. Rules and limits change; confirm with the source before acting.