RRIF Minimum Withdrawal Calculator
See what the CRA forces you to withdraw from your RRIF each year, from the year you convert through age 95. Model minimum-only, a fixed dollar income, or a set percentage, and watch your balance, mandatory income, and tax drag play out year by year.
Rates & rules verified · July 2026Primary sources: CRA – Receiving income from a RRIF
Balance & withdrawals by age
Year-end RRIF balance (area) against the amount you take out each year (line). Watch where forced withdrawals overtake growth.
Minimum vs. what you withdraw
The CRA-mandated minimum (grey) against your actual withdrawal each year. Where they meet, you're taking only what you must.
Year-by-year schedule
Every year from your current age to 95. Highlighted rows: age 71 (RRIF start), 80 and 90.
| Age | Factor | Jan-1 balance | Minimum | Withdrawal | Year-end balance |
|---|
How this is calculated
The minimum-withdrawal formula
Each year the CRA sets a minimum you must withdraw from a RRIF: minimum = factor × balance on January 1. Below age 71 the prescribed factor is 1 ÷ (90 − age). From 71 the CRA table takes over, 5.28% at 71, 5.82% at 75, 6.82% at 80, 8.51% at 85, 11.92% at 90, and a flat 20% from age 95 on. There is no minimum in the year you first open the RRIF.
How this tool simulates each year
Starting from your current age, for every year to 95: the minimum is computed on the January-1 balance, your actual withdrawal is max(your chosen amount, the minimum), that amount comes out, and the remainder grows at your expected return to give the year-end (next January-1) balance. Because the minimum is a percentage of what's left, a minimum-only RRIF shrinks every year but never technically reaches zero, only over-withdrawing (a fixed dollar amount that outruns growth) can deplete it.
RRSP → RRIF deadline
You must wind up your RRSP by December 31 of the year you turn 71. Most people convert to a RRIF; you can also buy an annuity or take the cash (fully taxable). First mandatory RRIF withdrawal is the following year, the year you turn 72, though you may open a RRIF and start earlier.
Withholding tax only above the minimum
The full withdrawal is taxable income, but no tax is withheld on the minimum amount at source. On the portion above the minimum, the payer withholds 10% on the first $5,000, 20% from $5,001–$15,000, and 30% above $15,000 (higher in Quebec). Withholding is a prepayment, not the final tax, you settle up when you file.
Younger-spouse election
You can elect to base every future minimum on your younger spouse's or common-law partner's age, which uses a smaller factor and keeps more sheltered. The election is locked in at conversion, it must be made before your first payment and can't be changed afterward (it does carry on even if the spouse later dies).
Pension income credit at 65
RRIF income qualifies for the federal pension income amount (a credit on up to $2,000 of eligible pension income) once you're 65, and can be pension-income-split with a spouse, one reason some retirees convert a slice of RRSP to RRIF at 65 rather than waiting until 71.
What this doesn't model
Income tax on withdrawals, OAS clawback, pension splitting, in-kind withdrawals, multiple RRIFs, or fees. Pair it with the retirement calculator, CPP timing calculator and income tax calculator for the full picture. Factors and rules confirmed as of July 2026.
Common questions
How is the RRIF minimum withdrawal calculated in 2026?
Your minimum for the year is a CRA-prescribed factor multiplied by the RRIF's fair market value on January 1. Before age 71 the factor is 1 ÷ (90 − age); from 71 onward it follows the CRA table, 5.28% at 71, 5.82% at 75, 6.82% at 80, 11.92% at 90, and a flat 20% at 95 and older. There is no minimum in the year you open the RRIF.
When must I convert my RRSP to a RRIF?
You must wind up your RRSP by December 31 of the year you turn 71, usually by converting it to a RRIF, buying an annuity, or taking it as cash. Minimum RRIF withdrawals then begin the following calendar year (the year you turn 72), though you can start a RRIF earlier if you choose.
Is withholding tax charged on RRIF withdrawals?
No withholding tax is deducted on the annual minimum amount, but the minimum is still fully taxable income when you file. On any withdrawal above the minimum, the payer withholds 10% up to $5,000, 20% from $5,001 to $15,000, and 30% above $15,000 (rates are higher in Quebec).
Can I base my RRIF minimum on my younger spouse's age?
Yes. You may elect to calculate all future minimums using your younger spouse's or common-law partner's age, which lowers the factor and keeps more money growing tax-sheltered. The election must be made before the first payment and cannot be changed once the RRIF is set up, though it survives even if the spouse later passes away.
Can a RRIF ever run out of money?
On minimums alone, no, because each year's withdrawal is a percentage of what remains, the balance keeps shrinking but never technically hits zero. It can be depleted only if you withdraw more than the minimum, for example a fixed dollar amount that outpaces growth.