Registered Pension Plan Regulators and Legislation

Private pension plans under federal jurisdiction

Life Income Fund (LIF) Interest Rate & Withdrawal Calculations as per Regulation 123 - each January 1 a new table of LIF Minimum and Maximum Withdrawal Rates is published. The maximum withdrawal is the greater of:

• the investment gains from the account in the previous calendar year, or
• an amount determined by multiplying the beginning of year balance by the prescribed annuity factor in Table A, which depends on an interest rate and the owner's age.

Alberta Pensions Services Corporation (APSC)

Public sector pension plans - British Columbia Pension Corporation

Pension Benefits Standards Regulation (PBSR)

Life Income Fund (LIF) Interest Rate & Withdrawal Calculations - The maximum withdrawal is the greater of:

• the investment gains from the account in the previous calendar year, or
• an amount determined by multiplying the beginning of year balance by the prescribed BC maximum percentage, which depends on an interest rate and the owner's age.

Pension Benefits Act and Regulation

Life Income Fund (LIF) - The maximum withdrawal is the greater of:

• the investment gains from the account in the previous calendar year, with  adjustment for amounts transferred to the LIF in the year, or
• an amount determined by multiplying the beginning of year balance by the prescribed MB reference rate, and the owner's age. Adjustment is made for amounts transferred to the LIF in the year.

Aug 17/21 News:  Bill 8 Amendments to Pension Benefits Act and Regulations - come into force Oct 1/21:

Pension Benefits Amendment Act

Pension Benefits Regulation, amendment

Pooled Registered Pension Plans Regulation, amendment

Life Income Fund (LIF) - with link to LIF maximum withdrawal table for current year. Also has information on unlocking provisions.

Pension Benefits Act (pdf)

Regulation 91-195 Under the Pension Benefits Act (pdf)

Pension Benefits Act and Regulations

Locked-in Retirement Savings Arrangements - The maximum withdrawal from an LRIF is the greater of:

• the investment gains from the account in the previous calendar year, or
• an amount determined by multiplying the beginning of year balance by the prescribed NL maximum percentage, which depends on an interest rate and the owner's age.

Life Income Funds - The maximum LIF withdrawal is based on your age, the balance in the life income fund, and the reference rate set for life income funds.

Public sector pension plans - Nova Scotia Pension Agency

Pension Benefits Act and Regulations

Pension Benefits Act and Regulations

Life Income Fund (LIF) and Locked-In Retirement Income Fund (LRIF) Maximum Annual Income Payment Amount Table  - The maximum withdrawal from a pre-2009 LIF or LRIF or from a post-2008 LIF is the greater of:

• the investment gains from the account in the previous calendar year, or
• an amount determined by multiplying the beginning of year balance by the prescribed ON maximum percentage, which depends on an interest rate and the owner's age.

- See Quebec Removal of LIF Maximums - Consultation, regarding the removal of the upper limit related to withdrawals of life income funds (LIFs) for persons aged 55 or over, as of July 1, 2024, and other changes. Draft legislation has been published, comments to be submitted by February 10, 2024.

Supplemental Pension Plans

Pension Benefits Act, 1992

Pension Benefits Regulations, 1993