RRIF Minimum Withdrawal Calculator
Calculate your CRA-required minimum RRIF withdrawal for any age, see how the prescribed rate changes as you get older, and project your account balance year by year.
RRIF Details
This Year's Minimum
Year-by-Year Projection
| Age | Start Balance | Min % | Min Withdrawal | Growth | End Balance |
|---|---|---|---|---|---|
| 72 | $500,000 | 5.40% | $27,000 | $18,920 | $491,920 |
| 73 | $491,920 | 5.53% | $27,203 | $18,589 | $483,305 |
| 74 | $483,305 | 5.67% | $27,403 | $18,236 | $474,138 |
| 75 | $474,138 | 5.82% | $27,595 | $17,862 | $464,405 |
| 76 | $464,405 | 5.98% | $27,771 | $17,465 | $454,099 |
| 77 | $454,099 | 6.17% | $28,018 | $17,043 | $443,124 |
| 78 | $443,124 | 6.36% | $28,183 | $16,598 | $431,539 |
| 79 | $431,539 | 6.58% | $28,395 | $16,126 | $419,270 |
| 80 | $419,270 | 6.82% | $28,594 | $15,627 | $406,303 |
| 81 | $406,303 | 7.08% | $28,766 | $15,101 | $392,638 |
| 82 | $392,638 | 7.38% | $28,977 | $14,546 | $378,208 |
| 83 | $378,208 | 7.71% | $29,160 | $13,962 | $363,010 |
| 84 | $363,010 | 8.08% | $29,331 | $13,347 | $347,026 |
| 85 | $347,026 | 8.51% | $29,532 | $12,700 | $330,193 |
| 86 | $330,193 | 8.99% | $29,684 | $12,020 | $312,529 |
| 87 | $312,529 | 9.55% | $29,847 | $11,307 | $293,990 |
| 88 | $293,990 | 10.21% | $30,016 | $10,559 | $274,533 |
| 89 | $274,533 | 10.99% | $30,171 | $9,774 | $254,136 |
| 90 | $254,136 | 11.92% | $30,293 | $8,954 | $232,797 |
| 91 | $232,797 | 13.06% | $30,403 | $8,096 | $210,489 |
Summary
Planning your full retirement income?
See your full retirement income — CPP, OAS, RRIF & TFSA →RRIF rules: You must convert your RRSP to a RRIF (or an annuity) by December 31 of the year you turn 71. Starting at age 72, the CRA requires a minimum withdrawal each year based on your January 1 balance and a prescribed rate that increases with age. All RRIF withdrawals are fully taxable income. Amounts above the annual minimum are subject to withholding tax at source. This calculator is for illustrative purposes only — consult a qualified financial advisor for personalised retirement planning advice.
RRIF minimum withdrawal rates by age
CRA prescribed minimum withdrawal factor for each age (Income Tax Regulations 7308). The last column shows the dollar minimum per $100,000 of RRIF balance on 1 January. Ages under 72 use the formula 1 ÷ (90 − age).
| Age (on 1 Jan) | Minimum factor | Per $100,000 balance |
|---|---|---|
| 71 | 5.26% | $5,263 |
| 72 | 5.40% | $5,400 |
| 73 | 5.53% | $5,530 |
| 74 | 5.67% | $5,670 |
| 75 | 5.82% | $5,820 |
| 76 | 5.98% | $5,980 |
| 77 | 6.17% | $6,170 |
| 78 | 6.36% | $6,360 |
| 79 | 6.58% | $6,580 |
| 80 | 6.82% | $6,820 |
| 81 | 7.08% | $7,080 |
| 82 | 7.38% | $7,380 |
| 83 | 7.71% | $7,710 |
| 84 | 8.08% | $8,080 |
| 85 | 8.51% | $8,510 |
| 86 | 8.99% | $8,990 |
| 87 | 9.55% | $9,550 |
| 88 | 10.21% | $10,210 |
| 89 | 10.99% | $10,990 |
| 90 | 11.92% | $11,920 |
| 91 | 13.06% | $13,060 |
| 92 | 14.49% | $14,490 |
| 93 | 16.34% | $16,340 |
| 94 | 18.79% | $18,790 |
| 95+ | 20.00% | $20,000 |
Worked example — age 72, $500,000 RRIF
At age 72 the prescribed factor is 5.40%. With a RRIF balance of $500,000 on 1 January, the minimum withdrawal for the year is:
5.40% × $500,000 = $27,000
That $27,000 is fully taxable income but carries no withholding tax at source. You can always withdraw more, but amounts above the minimum are subject to 10/20/30% withholding (outside Quebec).
Understanding RRIF Rules
A Registered Retirement Income Fund (RRIF) is the most common way Canadians convert their RRSP savings into retirement income. Unlike an RRSP, a RRIF requires you to withdraw a CRA-mandated minimum amount each year starting the year after you open the account.
Convert at 71: You must convert your RRSP to a RRIF by December 31 of the year you turn 71. If you miss this deadline, the CRA will deregister your RRSP and the full balance becomes taxable income immediately. Most Canadians convert before age 71 to begin drawing income in low-tax years.
Minimum increases with age: The CRA prescribed minimum withdrawal rate rises each year as you age — from 5.40% at age 72 to 20% at age 95 and older. For ages under 72, the formula is 1 ÷ (90 − age). This means your mandatory income — and your tax bill — grows over time even if your balance stays flat.
Fully taxable income: Every dollar withdrawn from a RRIF is included in your taxable income for that year. RRIF income is reported on a T4RIF slip. Large withdrawals can push you into higher tax brackets, trigger OAS clawback (if your net income exceeds the threshold), or reduce income-tested benefits such as the Guaranteed Income Supplement (GIS).
Withholding tax on excess: The minimum withdrawal amount is exempt from withholding tax — your financial institution pays it directly with no tax deducted at source. However, any amount you withdraw above the minimum is subject to withholding tax: 10% on up to $5,000 above the minimum, 20% on $5,001–$15,000, and 30% on amounts exceeding $15,000. Quebec has different combined rates.
Related retirement tools
Retirement Income Calculator
Combine CPP, OAS, RRIF, and TFSA to see your full retirement income and tax picture.
RRSP Withdrawal Calculator
Calculate withholding tax at source and actual marginal tax on an RRSP withdrawal before converting to a RRIF.
RRSP Meltdown Calculator
Plan multi-year RRSP withdrawals before age 71 to smooth tax brackets and shrink future forced RRIF minimums.
LIF Withdrawal Calculator
The locked-in pension analogue of a RRIF — work out your LIF minimum and maximum withdrawal by age and province.
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Frequently asked questions
When do I have to convert my RRSP to a RRIF?
You must convert your RRSP to a Registered Retirement Income Fund (RRIF) — or purchase a qualifying annuity — by December 31 of the year you turn 71. If you do not convert by that deadline, the CRA will deregister your RRSP and the full balance becomes taxable income in that year.
How is the RRIF minimum withdrawal calculated?
The RRIF minimum withdrawal for a given year is calculated by multiplying your RRIF balance on January 1 of that year by the CRA prescribed minimum withdrawal rate for your age. For ages 71 and under, the rate is 1 divided by (90 minus your age). From age 72 onward, the CRA publishes a fixed rate table in the Income Tax Regulations that increases each year as you age — from 5.40% at age 72 up to 20% at age 95 and older.
What happens if I withdraw less than the RRIF minimum?
You are not permitted to withdraw less than the CRA prescribed minimum from your RRIF in any given year. Your financial institution is required to enforce this minimum and will issue you a T4RIF slip for the amount withdrawn. Failing to take the minimum withdrawal is not an option — if you do not request a withdrawal, your institution will typically pay the minimum automatically before year end.
Can I withdraw more than the RRIF minimum?
Yes. You can withdraw any amount above the CRA prescribed minimum from your RRIF at any time. However, all RRIF withdrawals — including amounts above the minimum — are fully taxable income in the year you receive them. Amounts above the annual minimum are also subject to withholding tax at source (10%, 20%, or 30% depending on the amount, outside Quebec). Only the minimum withdrawal amount is exempt from withholding tax.
Last updated June 2026. RRIF minimum factors per Income Tax Regulations 7308 (unchanged).