Free tool 2026 rules

RRIF minimum withdrawal calculator

An RRSP must be converted by December 31 of the year you turn 71, most often into a Registered Retirement Income Fund. From the year after you open a RRIF, you must withdraw at least a prescribed percentage of its January 1 value each year. This tool lays out those minimums and the balance they leave.

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Withdrawn to 95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

Year-end balanceWithdrawal (×10 for scale)

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.

Educational estimate, not advice. Results depend on your inputs and the assumptions listed. They are not a prediction of returns or a recommendation. Check benefit amounts in your My Service Canada Account and tax details with the CRA. Read the disclaimer.

How to use this tool

Enter the RRIF balance on January 1.
Enter your age (or a younger spouse's age).
Set an assumed return and review the schedule.

The prescribed factors

Up to age 70, the factor is 1 ÷ (90 − age): 4.00% at 65, 5.00% at 70. From 71 the CRA chart applies: 5.28% at 71, 5.82% at 75, 6.82% at 80, 8.51% at 85, 11.92% at 90 and 20% from 95. You can elect to use a younger spouse's or common-law partner's age when you set up the RRIF, which lowers the minimum.

The minimum isn't a target. You can take more at any time (withholding tax applies to the excess), and some people draw more in early retirement to smooth taxes — see the RRSP meltdown guide.

Why the schedule matters for tax

RRIF withdrawals are fully taxable and count toward the OAS recovery threshold. Large balances can produce minimums that push income into higher brackets in your late 70s and 80s. Seeing the schedule early helps you decide whether to draw down sooner, split income with a spouse, or move surplus withdrawals into a TFSA.

Frequently asked questions

Is there a minimum in the first year?

No. There's no minimum payment in the calendar year the RRIF is set up; minimums start the following year.

Is withholding tax taken from the minimum?

Financial institutions don't withhold tax on the minimum amount, but the withdrawal is still taxable income. You may owe tax when you file.

What happens to a RRIF at death?

It can generally roll over tax-deferred to a surviving spouse or partner named as successor annuitant or beneficiary. Otherwise the value is usually taxed as income on the final return.

Official sources

Figures checked October 30, 2026. Rules and amounts change; confirm current details on the official pages above.