The CIBC LIF Daily Interest Savings Account (DISA) provides you access to your retirement income savings at any time (subject to the legislated limits on how much may be withdrawn each year).
A Life Income Fund (LIF) is a retirement income option for locked-in RRSPs and LIRAs and offers a flexible alternative to a life annuity. Like a RRIF, you must withdraw a minimum amount each year. But, there is also an annual maximum on your withdrawals. The aim of this legislated amount is to ensure that the LIF provides income for life.