RRIF Minimum
Withdrawal Calculator
Enter your age and the value of your RRIF on December 31. The calculator applies the government minimum factor for your age and shows what you must take out this year.
Your RRIF minimum
Figures use the CRA prescribed factors and are estimates. Your RRIF issuer calculates your official minimum. Not tax advice. Terms →
Projected minimum withdrawals by age
Each year the minimum is the factor for that age times the balance at the start of the year. The table assumes the minimum is taken in January and the rest grows at the rate you entered, so it shows how the minimum changes, not what you will actually have.
| Age | Factor | Balance at start | Minimum | Balance after |
|---|
How the RRIF minimum is calculated
A registered retirement income fund has to pay out a minimum amount every year after the year it is opened. The minimum is the value of the plan on December 31 of the previous year, multiplied by a factor set by the government that depends on age. The age is your age on January 1, or a younger spouse or common-law partner's age if you based the plan on theirs.
Up to age 70 the factor is 1 divided by (90 minus your age). From 71 the factor comes from a fixed table that rises with age, reaching 20% at 95 and older. Qualifying RRIFs, which were opened before 1993, use 5.26% at age 71 and the same factors as other plans after that.
| Age at January 1 | Minimum factor |
|---|---|
| 71 | 5.28% |
| 72 | 5.40% |
| 73 | 5.53% |
| 74 | 5.67% |
| 75 | 5.82% |
| 76 | 5.98% |
| 77 | 6.17% |
| 78 | 6.36% |
| 79 | 6.58% |
| 80 | 6.82% |
| 81 | 7.08% |
| 82 | 7.38% |
| 83 | 7.71% |
| 84 | 8.08% |
| 85 | 8.51% |
| 86 | 8.99% |
| 87 | 9.55% |
| 88 | 10.21% |
| 89 | 10.99% |
| 90 | 11.92% |
| 91 | 13.06% |
| 92 | 14.49% |
| 93 | 16.34% |
| 94 | 18.79% |
| 95 or older | 20.00% |
Source: Canada Revenue Agency, "Chart: Prescribed factors" (page modified October 1, 2025). Age 71 is 5.28% for most RRIFs and 5.26% for qualifying RRIFs.
Tax withheld on RRIF withdrawals
Your issuer does not have to withhold tax on the minimum amount. Anything you take above the minimum is subject to withholding at source. Outside Quebec the federal rates are 10% on amounts up to $5,000, 20% from $5,001 to $15,000 and 30% above $15,000. Quebec has its own rules, so check with your issuer or Revenu Québec if you live there.
Withholding is only a prepayment. All RRIF income is taxable and is added to your other income when you file, so the tax you owe can be higher or lower than what was withheld.
What this calculator does not do
It does not work out your income tax, pension income credit, pension splitting or any effect on income-tested benefits such as Old Age Security. It does not apply the first-year rule beyond setting the minimum to zero, and it assumes your plan balance at the start of last year matches the figure you enter. Your issuer calculates your official minimum, and its figure is the one that counts.
- Canada Revenue Agency: Chart, prescribed factors (factors and the age 71 difference).
- Canada Revenue Agency (withholding on amounts above the minimum).
Frequently asked questions
When do I have to open a RRIF?
An RRSP has to be closed, converted or collapsed by the end of the year you turn 71. Most people convert it to a RRIF by December 31 of that year. You can open one earlier.
Do I have to take money out in the year I open it?
No. There is no minimum in the year the RRIF is opened. The first required minimum is the following year.
Which value is the minimum based on?
The value of the plan on December 31 of the previous year. Your issuer uses that figure, so the market value today does not change this year's minimum.
Can I use my spouse's age?
You can base the minimum on a younger spouse or common-law partner's age, which gives a lower minimum. That choice is generally made when the plan is opened, so ask your issuer whether it applies to your plan.
Is tax withheld on the minimum?
No withholding is required on the minimum. Amounts above the minimum are subject to withholding at source. Either way, the full amount is taxable income for the year.
Can I withdraw more than the minimum?
Yes. There is no maximum. The extra amount is taxed as income and has tax withheld at source, and a larger income can affect benefits that depend on income.