RRIF minimum withdrawal calculator
Enter the value of your RRIF on January 1 and your age on that date to get the minimum you must withdraw this year.
Checked by Radif Partners · Editorial policy · Method
At 71 the RRIF minimum withdrawal is 5.28 % of the fund’s value on January 1, rising to 6.82 % at 80, 11.92 % at 90 and 20 % from 95 onward. These prescribed factors come from section 7308 of the Income Tax Regulations and depend only on age. Before 71, the factor is one divided by 90 minus your age on January 1: 4.00 % at 65 and 5.00 % at 70. The minimum is the fair market value of the fund at the start of the year multiplied by the factor for your age at that date, so on a fund of $100,000 a 72-year-old must take out at least $5,400 during the year. No minimum applies in the year the fund is set up. If you elect it before the first payment, the factor can follow the age of your spouse or common-law partner instead of yours, which lowers the minimum when that person is younger. You can always withdraw more than the minimum.
Minimum withdrawal this year
$13,500
5.4 % of the January 1 value
| Factor at 72 | 5.4 % |
| Factor at 73 | 5.53 % |
| Factor at 74 | 5.67 % |
| Factor at 75 | 5.82 % |
| Factor at 76 | 5.98 % |
Factors from section 7308 of the Income Tax Regulations; before 71, 1 ÷ (90 − age). No minimum is required in the year the RRIF is opened.
What the calculator computes
You enter the fair market value of the fund on January 1 and your age, in whole years, on that date. The tool multiplies the two using the factor for that age and shows the factor for the next five years, so you can see how the required share climbs. If you elected to use your spouse’s or common-law partner’s age, enter their age instead.
The full table of factors
| Age on January 1 | Factor | Minimum on $100,000 |
|---|---|---|
| 60 | 3.33 % | $3,333 |
| 61 | 3.45 % | $3,448 |
| 62 | 3.57 % | $3,571 |
| 63 | 3.70 % | $3,704 |
| 64 | 3.85 % | $3,846 |
| 65 | 4.00 % | $4,000 |
| 66 | 4.17 % | $4,167 |
| 67 | 4.35 % | $4,348 |
| 68 | 4.55 % | $4,545 |
| 69 | 4.76 % | $4,762 |
| 70 | 5.00 % | $5,000 |
| 71 | 5.28 % | $5,280 |
| 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 or older | 20.00 % | $20,000 |
The share climbs slowly through the seventies and steeply after 90, until it stops at 20 % from 95. Because the minimum is a share of a value that moves with the markets, the dollar amount can fall in a year when the factor rises.
What it does not do
The tool does not handle RRIFs set up before 1993 under older rules, and it does not compute tax withheld. It does not track withdrawals already made or the value of the fund at year end. Every dollar taken out is income for the year under subsection 146.3(5) of the Income Tax Act, which matters for the Guaranteed Income Supplement and the OAS recovery tax: the guide on RRIF withdrawals and benefits shows the effect, and the clawback calculator gives the repayment.