RRIF minimum withdrawals
Minimum this year
$21,600
factor 5.40%
Withdrawn to 95
$623,855
total of yearly withdrawals
Balance at 95
$115,194
year-end
Withdrawals and balance by age
| Age | Jan 1 balance | Factor | Withdrawal | Year-end |
|---|---|---|---|---|
| 72 | $400,000 | 5.40% | $21,600 | $397,320 |
| 73 | $397,320 | 5.53% | $21,972 | $394,116 |
| 74 | $394,116 | 5.67% | $22,346 | $390,358 |
| 75 | $390,358 | 5.82% | $22,719 | $386,021 |
| 76 | $386,021 | 5.98% | $23,084 | $381,084 |
| 77 | $381,084 | 6.17% | $23,513 | $375,449 |
| 78 | $375,449 | 6.36% | $23,879 | $369,149 |
| 79 | $369,149 | 6.58% | $24,290 | $362,102 |
| 80 | $362,102 | 6.82% | $24,695 | $354,277 |
| 81 | $354,277 | 7.08% | $25,083 | $345,654 |
| 82 | $345,654 | 7.38% | $25,509 | $336,152 |
| 83 | $336,152 | 7.71% | $25,917 | $325,746 |
| 84 | $325,746 | 8.08% | $26,320 | $314,397 |
| 85 | $314,397 | 8.51% | $26,755 | $302,024 |
| 86 | $302,024 | 8.99% | $27,152 | $288,616 |
| 87 | $288,616 | 9.55% | $27,563 | $274,106 |
| 88 | $274,106 | 10.21% | $27,986 | $258,426 |
| 89 | $258,426 | 10.99% | $28,401 | $241,526 |
| 90 | $241,526 | 11.92% | $28,790 | $223,373 |
| 91 | $223,373 | 13.06% | $29,172 | $203,910 |
| 92 | $203,910 | 14.49% | $29,547 | $183,082 |
| 93 | $183,082 | 16.34% | $29,916 | $160,825 |
| 94 | $160,825 | 18.79% | $30,219 | $137,136 |
| 95 | $137,136 | 20% | $27,427 | $115,194 |
CRA prescribed factors: 1 ÷ (90 − age) up to 70; from 71 the CRA chart (5.28% at 71 rising to 20% at 95+). The factor applies to the January 1 value; there's no minimum in the calendar year the RRIF is opened. Withholding tax applies only to amounts above the minimum, but all RRIF withdrawals are taxable income.
RRIF minimum withdrawals · Powered by RetirementPlanner.ca · MITEY. Educational estimates, not financial advice.