RRIF Minimum Withdrawal Calculator
This RRIF calculator works out the minimum you must withdraw from a registered retirement income fund this year: the RRIF’s value on January 1 multiplied by the factor for your age at the start of the year, such as 4.00% at 65, 5.28% at 71 or 6.82% at 80. It can use a younger spouse’s age if you elected it, and it projects your payments and balance year by year. No tax is withheld on the minimum; amounts above it are withheld at 10%, 20% or 30% outside Quebec. The full factor table and three worked examples follow the calculator.
Written by Sharad Gondaliya, CPA CPAChartered Professional Accountant, CPA Ontario No. 61040184
Financial reviewer: Neha Gupta, CFA CFA charterholderReview of this page scheduledAt a glance
What the calculator answers. The minimum RRIF payment for this year, the payments and balance in later years at a return you choose, and the withholding rules that apply if you take more than the minimum.
What you need to know first. Your RRIF’s fair market value on January 1, your age at the start of the year (or your spouse’s age if you made the younger-spouse election when the RRIF was set up), the return you want to assume and how many years to project.
The figures it uses. For ages 70 and under, the factor is 1 / (90 – age). From 71, the factors come from the Canada Revenue Agency’s chart: 5.28% at 71, 5.40% at 72, 6.82% at 80, 11.92% at 90 and 20.00% at 95 and over.
Timing. You must convert your RRSP by December 31 of the year you turn 71. No minimum is due in the year the RRIF is set up; the first one is due the next year.
Withholding. No tax is withheld on the minimum. Above it, withholding is 10% on an excess of $5,000 or less, 20% over $5,000 up to $15,000 and 30% over $15,000 outside Quebec; in Quebec, 5%, 10% or 15% federal plus 14% Quebec tax.
Enter your RRIF value on January 1 and your age (or your spouse’s, if elected) to see this year’s minimum and a projection.
1. How to Use the RRIF Calculator
RRIF value on January 1. Use the fair market value of the RRIF at the start of the year, from your December statement or your issuer’s January notice. The minimum for the whole year is fixed by this one number, so changes in value during the year do not change it.
Your age at the start of the year. The factor depends on your age on January 1, not the age you reach on your birthday later in the year. Someone born in 1955 is 71 at the start of 2027 and uses 5.28% for 2027, even though they turn 72 during that year.
Spouse’s age, if elected. If you chose to base the minimum on your spouse’s or common-law partner’s age when the RRIF was set up, enter their age at the start of the year instead. If you did not make that election when the plan was set up, use your own age.
Return assumption. The projection grows the balance at the yearly return you choose, after taking out each year’s minimum. The return is an assumption, not a forecast. Running the projection at two or three returns shows the range, and our compound interest calculator shows how returns compound before withdrawals start.
Extra withdrawals and province. The calculator works out the minimum only. If you plan to take more, the extra is withheld at lump-sum rates, which depend on whether you live in Quebec; section 7 sets them out. The tax actually owed is settled on your return, so treat withholding as a prepayment.
2. The Rules Behind the RRIF Calculator
The minimum formula. Minimum = fair market value of the RRIF at the start of the year x the prescribed factor. The factor uses your age at the start of the year, or your spouse’s if that election was made when the RRIF was set up.
Ages 70 and under. The factor is 1 divided by (90 minus age). At 60 that is 1 / 30 (3.33%), at 65 it is 1 / 25 (4.00%), and at 70 it is 1 / 20 (5.00%).
Ages 71 and over. The factors come from CRA’s chart of prescribed factors and rise every year: 5.28% at 71, 5.82% at 75, 6.82% at 80, 8.51% at 85, 11.92% at 90 and 20.00% from 95. CRA’s chart also has a column for older qualifying RRIFs, which shows 5.26% at 71.
First year and no maximum. No minimum is required in the year the RRIF is set up. There is no maximum on a RRIF, so you can always take more; only locked-in funds such as LIFs have a yearly cap. For other retirement and tax tools, see all our investing and tax calculators or our investment accounts guide.
| Rule | Detail |
|---|---|
| Minimum | January 1 value x factor |
| Age used | Age at the start of the year (or spouse’s, if elected at setup) |
| Factor, age 70 and under | 1 / (90 – age) |
| Factor, age 71 and over | CRA chart, 5.28% at 71 rising to 20.00% at 95 and over |
| First minimum | The year after the RRIF is set up |
| Conversion deadline | December 31 of the year you turn 71 |
| Maximum | None for a RRIF |
| Withholding on the minimum | None |
| Withholding above the minimum, outside Quebec | 10%, 20% or 30% by size of the excess |
3. Worked Examples: Three Retirees
This example is hypothetical. Each case shows one year’s figures for 2027.
- Anita, 65 on January 1, 2027, RRIF worth $200,000. She moved part of her RRSP to a RRIF in 2026, so 2027 is her first minimum year. Factor: 1 / (90 – 65) = 1 / 25 = 4.00%. Minimum: $200,000 / 25 = $8,000. Because she is 65, $2,000 of that income qualifies for the federal pension income amount, worth $2,000 x 14% = $280 of federal tax.
- Robert, 72 on January 1, 2027, RRIF worth $500,000, lives in Ontario. Factor 5.40%. Minimum: $500,000 x 5.40% = $27,000. He wants $35,000 this year, so $8,000 is above the minimum. That excess falls in the over $5,000 up to $15,000 band, so $8,000 x 20% = $1,600 is withheld. He receives $35,000 – $1,600 = $33,400. If he lived in Quebec, $8,000 x 10% = $800 federal and $8,000 x 14% = $1,120 Quebec tax would be withheld, $1,920 in total.
- Lucie, 78 on January 1, 2027, RRIF worth $350,000, elected her husband’s age at setup. Her husband is 70 at the start of 2027, so the factor is 1 / 20 = 5.00%. Minimum: $350,000 x 5.00% = $17,500. Using her own age, 6.36%, it would be $350,000 x 6.36% = $22,260. The election lowers her required payment by $4,760 this year.
| Retiree | RRIF on January 1 | Age used | Factor | Minimum | Withheld |
|---|---|---|---|---|---|
| Anita | $200,000 | 65 (own) | 4.00% | $8,000 | $0 |
| Robert (takes $35,000) | $500,000 | 72 (own) | 5.40% | $27,000 | $1,600 on the $8,000 excess |
| Lucie | $350,000 | 70 (spouse) | 5.00% | $17,500 | $0 |
Check your own number now: enter your January 1 balance and age in the RRIF calculator, then read the full rules in our guide.
4. RRIF Minimum Calculator Reference Table: Factors, Ages 55 to 95 and Over
How to use the table. Find your age on January 1 (or your spouse’s, if elected), then read across for the factor and the minimum on three sample balances. For a different balance, multiply your January 1 value by the factor. For ages 70 and under, the dollar columns use the exact formula 1 / (90 – age), so they can differ slightly from the rounded percentage.
What the table tells you. The factor rises slowly through the 70s, faster through the 80s and sharply after 90. At 80, a $500,000 RRIF must pay $34,100; at 90, the same balance must pay $59,600; from 95, $100,000. Planning which years to take extra money depends on this curve.
| Age on January 1 | Factor | Source of factor | Minimum on $100,000 | Minimum on $250,000 | Minimum on $500,000 |
|---|---|---|---|---|---|
| 55 | 2.86% | 1 / 35 | $2,857.14 | $7,142.86 | $14,285.71 |
| 56 | 2.94% | 1 / 34 | $2,941.18 | $7,352.94 | $14,705.88 |
| 57 | 3.03% | 1 / 33 | $3,030.30 | $7,575.76 | $15,151.52 |
| 58 | 3.13% | 1 / 32 | $3,125.00 | $7,812.50 | $15,625.00 |
| 59 | 3.23% | 1 / 31 | $3,225.81 | $8,064.52 | $16,129.03 |
| 60 | 3.33% | 1 / 30 | $3,333.33 | $8,333.33 | $16,666.67 |
| 61 | 3.45% | 1 / 29 | $3,448.28 | $8,620.69 | $17,241.38 |
| 62 | 3.57% | 1 / 28 | $3,571.43 | $8,928.57 | $17,857.14 |
| 63 | 3.70% | 1 / 27 | $3,703.70 | $9,259.26 | $18,518.52 |
| 64 | 3.85% | 1 / 26 | $3,846.15 | $9,615.38 | $19,230.77 |
| 65 | 4.00% | 1 / 25 | $4,000.00 | $10,000.00 | $20,000.00 |
| 66 | 4.17% | 1 / 24 | $4,166.67 | $10,416.67 | $20,833.33 |
| 67 | 4.35% | 1 / 23 | $4,347.83 | $10,869.57 | $21,739.13 |
| 68 | 4.55% | 1 / 22 | $4,545.45 | $11,363.64 | $22,727.27 |
| 69 | 4.76% | 1 / 21 | $4,761.90 | $11,904.76 | $23,809.52 |
| 70 | 5.00% | 1 / 20 | $5,000.00 | $12,500.00 | $25,000.00 |
| 71 | 5.28% | CRA chart | $5,280.00 | $13,200.00 | $26,400.00 |
| 72 | 5.40% | CRA chart | $5,400.00 | $13,500.00 | $27,000.00 |
| 73 | 5.53% | CRA chart | $5,530.00 | $13,825.00 | $27,650.00 |
| 74 | 5.67% | CRA chart | $5,670.00 | $14,175.00 | $28,350.00 |
| 75 | 5.82% | CRA chart | $5,820.00 | $14,550.00 | $29,100.00 |
| 76 | 5.98% | CRA chart | $5,980.00 | $14,950.00 | $29,900.00 |
| 77 | 6.17% | CRA chart | $6,170.00 | $15,425.00 | $30,850.00 |
| 78 | 6.36% | CRA chart | $6,360.00 | $15,900.00 | $31,800.00 |
| 79 | 6.58% | CRA chart | $6,580.00 | $16,450.00 | $32,900.00 |
| 80 | 6.82% | CRA chart | $6,820.00 | $17,050.00 | $34,100.00 |
| 81 | 7.08% | CRA chart | $7,080.00 | $17,700.00 | $35,400.00 |
| 82 | 7.38% | CRA chart | $7,380.00 | $18,450.00 | $36,900.00 |
| 83 | 7.71% | CRA chart | $7,710.00 | $19,275.00 | $38,550.00 |
| 84 | 8.08% | CRA chart | $8,080.00 | $20,200.00 | $40,400.00 |
| 85 | 8.51% | CRA chart | $8,510.00 | $21,275.00 | $42,550.00 |
| 86 | 8.99% | CRA chart | $8,990.00 | $22,475.00 | $44,950.00 |
| 87 | 9.55% | CRA chart | $9,550.00 | $23,875.00 | $47,750.00 |
| 88 | 10.21% | CRA chart | $10,210.00 | $25,525.00 | $51,050.00 |
| 89 | 10.99% | CRA chart | $10,990.00 | $27,475.00 | $54,950.00 |
| 90 | 11.92% | CRA chart | $11,920.00 | $29,800.00 | $59,600.00 |
| 91 | 13.06% | CRA chart | $13,060.00 | $32,650.00 | $65,300.00 |
| 92 | 14.49% | CRA chart | $14,490.00 | $36,225.00 | $72,450.00 |
| 93 | 16.34% | CRA chart | $16,340.00 | $40,850.00 | $81,700.00 |
| 94 | 18.79% | CRA chart | $18,790.00 | $46,975.00 | $93,950.00 |
| 95 and over | 20.00% | CRA chart | $20,000.00 | $50,000.00 | $100,000.00 |
5. RRIF Timing: Convert by 71, First Minimum the Next Year
The deadline. Your RRSP must be converted to a RRIF, used to buy an annuity or withdrawn by December 31 of the year you turn 71. That date is also the last day to contribute to your own RRSP. A direct transfer from RRSP to RRIF has no tax withheld. Our RRSP guide covers the options at 71, and our guide to transferring an investment account explains moves between institutions.
The first minimum. No minimum is due in the year the RRIF is set up. For someone who converts at the deadline, the first minimum is due in the year they turn 72, and it uses the age-71 factor of 5.28% because they are 71 on January 1 of that year.
Converting early. You can set up a RRIF at any age. The calculator’s formula for ages 70 and under covers early conversions. Someone who is 61 at the start of their first minimum year uses 1 / 29 (3.45%), and someone who is 65 uses 1 / 25 (4.00%).
| Born in | Year you turn 71 | Convert by | First minimum year | Age on January 1 of that year | First factor |
|---|---|---|---|---|---|
| 1955 | 2026 | December 31, 2026 | 2027 | 71 | 5.28% |
| 1956 | 2027 | December 31, 2027 | 2028 | 71 | 5.28% |
| 1957 | 2028 | December 31, 2028 | 2029 | 71 | 5.28% |
| 1958 | 2029 | December 31, 2029 | 2030 | 71 | 5.28% |
| 1959 | 2030 | December 31, 2030 | 2031 | 71 | 5.28% |
| 1960 | 2031 | December 31, 2031 | 2032 | 71 | 5.28% |
6. The Younger-Spouse Election
What it does. When you set up a RRIF, you can elect to base the minimum on your spouse’s or common-law partner’s age. A younger spouse means a lower factor, a lower required payment and more money left to grow tax-deferred. You can still take more than the minimum in any year.
When to decide. The election is made when the RRIF is set up. Please raise it with the issuer before you sign the application, because the calculator can only use a spouse’s age if the plan was set up that way.
The effect on a $300,000 RRIF. At 71, your own factor of 5.28% gives a minimum of $15,840. With a spouse aged 66 at the start of the year, the factor is 1 / 24 and the minimum is $12,500, which is $3,340 less. With a spouse aged 61, it is 1 / 29, or $10,344.83, which is $5,495.17 less.
| Age used | Factor | Minimum | Reduction |
|---|---|---|---|
| Own age, 71 | 5.28% | $15,840.00 | $0.00 |
| Spouse aged 66 | 1 / 24 (4.17%) | $12,500.00 | $3,340.00 |
| Spouse aged 61 | 1 / 29 (3.45%) | $10,344.83 | $5,495.17 |
7. Withholding Above the Minimum: RRIF Withdrawal Calculator Results
The minimum has none. The issuer withholds no income tax from the minimum amount, in every province including Quebec. The minimum is still taxable income, so you may owe tax when you file unless you ask the issuer to withhold some voluntarily.
The excess has lump-sum withholding. The part of a RRIF payment above the minimum is withheld like a lump-sum withdrawal. Outside Quebec: 10% on an excess of $5,000 or less, 20% on an excess over $5,000 up to $15,000, and 30% on an excess over $15,000. In Quebec: 5%, 10% or 15% federal on the same bands, plus 14% Quebec tax.
Withholding is a prepayment. Your final tax depends on your total income, your province and your credits. The same marginal rates drive our RRSP tax refund calculator, and our TFSA vs RRSP comparison shows why the rate at withdrawal matters. Use the income tax calculator below to estimate the tax on your total retirement income, including RRIF payments, for 2026.
| Part of the payment | Outside Quebec | Quebec federal | Quebec provincial |
|---|---|---|---|
| Up to the minimum | 0% | 0% | 0% |
| Excess of $5,000 or less | 10% | 5% | 14% |
| Excess over $5,000, up to $15,000 | 20% | 10% | 14% |
| Excess over $15,000 | 30% | 15% | 14% |
The calculator below estimates 2026 federal and provincial income tax and your marginal rate.
See how RRIF payments, withholding and the OAS threshold fit together in our full guide, or compare where to hold your RRIF.
8. Tax, Pension Credit and OAS on Your RRIF Payments
Pension income amount. From 65, RRIF payments count as eligible pension income, so you can claim the federal pension income amount on the lesser of $2,000 and your eligible pension income. At the 2026 federal rate of 14%, that is worth up to $280.
Pension income splitting. If you are 65 or older at the end of the year, you can allocate up to 50% of your RRIF payments to your spouse or common-law partner by filing a joint Form T1032. Both of you must be Canadian residents on December 31. Splitting can lower the household’s tax and your OAS recovery tax.
OAS recovery tax. For the 2026 income year, OAS recovery tax is 15% of net income above $95,323, repaid from OAS payments from July 2027 to June 2028. For example (hypothetical), Robert from section 3 has CPP of $14,000, OAS of $9,150 (12 x $762.50, the October to December 2026 maximum for ages 65 to 74), his $35,000 RRIF withdrawal and a $40,000 company pension: $98,150 in total. The excess over $95,323 is $2,827, so his OAS recovery is $2,827 x 15% = $424.05.
Enter your expected net income to see how much OAS you would repay.
Our RRIF minimum withdrawal guide works through a full pension-splitting example, and the CPP and OAS payment dates page lists 2026 deposit dates.
9. LIF Note: Minimums and Maximums
The minimum is the same. For a life income fund under federal pension law, the yearly minimum is the RRIF minimum, so the calculator’s result applies to a federal LIF too.
LIFs also have a maximum. Federal LIFs cap yearly payments before age 90 using a formula that divides the balance by an annuity factor. From the year the holder turns 90, there is no cap. This calculator is built for minimums, so your issuer is the place to get a LIF maximum.
Provincial LIFs. Many LIFs hold pension money regulated by a province, and the maximum and other rules follow that province’s pension law. Please ask your issuer for this year’s LIF maximum. Our list of the best LIRA accounts covers where locked-in savings can be held before they become a LIF.
10. RRIF Payment Calculator Projection: How Long the Money Lasts
How the projection works. Each year, the minimum is the January 1 value times the factor. The projection takes out the minimum, then grows what is left at your assumed return to get next January’s value. Taking more than the minimum shortens the projection; a higher return lengthens it.
A hypothetical projection. A RRIF worth $250,000 at the start of the year its owner is 65, taking only the minimum and earning an assumed 4% a year: the first minimum is $10,000 ($250,000 / 25). Payments rise from $10,000 at 65 to $14,348.33 at 90, while the balance falls to $120,371.87 at the start of 90. Over 31 years (ages 65 to 95), the owner receives $408,468.48 in minimums, and $54,207.11 remains on the next January 1 after the age-95 payment.
| Age on January 1 | Value on January 1 | Factor | Minimum for the year | Value next January 1 |
|---|---|---|---|---|
| 65 | $250,000.00 | 4.00% | $10,000.00 | $249,600.00 |
| 70 | $243,330.58 | 5.00% | $12,166.53 | $240,410.61 |
| 75 | $224,576.12 | 5.82% | $13,070.33 | $219,966.02 |
| 80 | $198,587.63 | 6.82% | $13,543.68 | $192,445.71 |
| 85 | $164,369.12 | 8.51% | $13,987.81 | $156,396.56 |
| 90 | $120,371.87 | 11.92% | $14,348.33 | $110,264.48 |
| 95 | $65,152.78 | 20.00% | $13,030.56 | $54,207.11 |
Reading the result. At 65, the 4.00% minimum comes out before the year’s 4% growth, so the balance dips only slightly, to $249,600. From 66 the factor passes 4% and the balance falls faster each year. A RRIF never runs out under minimum-only withdrawals, because each payment is a percentage of what is left, but the payments eventually shrink.
8 Ways to Use Your RRIF Calculator Result
1. Budget from the minimum
Your minimum is fixed on January 1. Combine it with CPP, OAS and any pension to see your guaranteed income for the year before deciding on extras.
2. Set aside tax
No tax is withheld on the minimum. Ask for voluntary withholding or put a share of each payment aside so the April bill is not a surprise.
3. Time extra withdrawals
An excess of $5,000 or less is withheld at 10%; over $15,000, at 30%. Withholding is a prepayment, but smaller extras mean less cash held back until you file.
4. Use the spouse election at setup
If you are opening a RRIF, compare the minimum at your age and your younger spouse’s age before you sign.
5. Keep next year’s minimum in cash
Use the projection to see next year’s payment, and hold that amount in cash or a short GIC. See current GIC rates.
6. Check the OAS line
If net income will land near $95,323 (2026 income year), consider splitting with your spouse or shifting extra withdrawals to another year.
7. Move surplus to a TFSA
If you do not need the whole minimum, the after-tax amount can go into a TFSA if you have TFSA room, where growth is tax-free.
8. Review costs once a year
Fees reduce what each payment can be. Compare issuers on our best RRIF accounts page, read reviews such as Questrade and Wealthsimple, and see how we are paid in our advertiser disclosure.
RRIF Calculator FAQ
How does the RRIF calculator work out my minimum?
It multiplies your RRIF’s value on January 1 by the prescribed factor for your age at the start of the year, or your spouse’s age if you elected it when the RRIF was set up. For 70 and under, the factor is 1 / (90 – age); from 71 it follows CRA’s chart, from 5.28% at 71 to 20% at 95 and over.
What value should I enter for my RRIF?
Enter the fair market value on January 1 of the year, from your December statement or your issuer’s notice. The minimum is fixed by that value for the whole year. Market moves later in the year change next year’s minimum, not this year’s.
Which age does the RRIF calculator use?
Your age at the start of the year, not the age you reach on your birthday later. Someone born in 1955 is 71 on January 1, 2027, and uses the 5.28% factor for 2027. If you made the younger-spouse election, use your spouse’s age at the start of the year instead.
Do I need to take a minimum in the year I open my RRIF?
No. No minimum is due in the calendar year the RRIF is set up. The first minimum is due the following year. If you convert at the deadline, December 31 of the year you turn 71, your first minimum is due the next year at the age-71 factor of 5.28%.
How much tax is withheld on a RRIF withdrawal?
None on the minimum. On the part above the minimum, outside Quebec, 10% is withheld on an excess of $5,000 or less, 20% over $5,000 up to $15,000, and 30% over $15,000. Quebec residents have 5%, 10% or 15% federal plus 14% Quebec tax withheld on the excess.
Can I take less than the RRIF minimum?
No. The minimum must be paid out by December 31 each year once the first minimum year arrives. The only way to lower it is the younger-spouse election, which must be made when the RRIF is set up. You can always take more than the minimum.
Is the RRIF calculator result the same for a LIF?
For a federally regulated LIF, yes: its minimum is the same as the RRIF minimum. A LIF also has a yearly maximum, set by formula before age 90 for federal plans, and provincial LIFs follow provincial rules. Your LIF issuer can tell you this year’s maximum.
Will my RRIF run out if I take only the minimum?
Not entirely, because each minimum is a percentage of what is left. But from 95 the factor is 20% a year, so the balance shrinks quickly unless returns are high. In our hypothetical $250,000 projection at 4%, $54,207.11 remains after the age-95 payment.
Does RRIF income count toward the OAS clawback?
Yes. Every RRIF payment, minimum or extra, is part of net income. For the 2026 income year, OAS recovery tax is 15% of net income above $95,323, repaid from OAS payments from July 2027 to June 2028. Pension income splitting with a spouse, from 65, can reduce the income counted against you.
How accurate is the RRIF calculator?
The minimum is exact for the January 1 value and age you enter, because the factors are set by law. Projections for later years depend on the return you assume, which is not a forecast. Our editorial standards explain how we check the factors and tax figures.
Run the RRIF calculator each January with your new balance, then plan any extra withdrawals around withholding and the OAS threshold.
Figures on this page were checked against Canada Revenue Agency, Service Canada and Revenu Quebec publications and federal pension regulations on October 22, 2026. We update this page when a figure changes.
Meet the Experts Behind WealthScale
Sharad is a CPA Ontario member (No. 61040184) and a Certified Public Accountant licensed in Washington and Montana, with more than 15 years in accounting and tax, a Diploma in Banking and Finance and a Certificate in Small Business Finance. He checks WealthScale content against primary sources. WealthScale is independent of his firm, Gondaliya CPA Professional Corporation, and provides general information only, not personal financial, investment, tax or legal advice.
- Chartered Professional Accountant, CPA Ontario
- Certified Public Accountant, Washington (No. 57629) and Montana (No. PAC-CPAP-LIC-033176)
- Writing on tax and registered accounts since 2021
- Reader’s Choice Award 2025 Winner, Best Accountant (Toronto)
Neha Gupta is a CFA charterholder based in Winnipeg who has worked in financial markets since December 2005. She has published more than 2,600 investment articles and is Head of Operations and Finance at Whiteland Real Estate. She reviews WealthScale’s investing pages for accuracy.
- CFA charter, CFA Institute (awarded 2023)
- Post Graduate Diploma in Business Administration (Finance), 2008
- In financial markets since December 2005
- More than 2,600 published investment articles
General information only. Not financial, investment, tax or legal advice. WealthScale is independent and is published by WealthScale Media Inc., 55 Queen St E, Suite 1205, Toronto, ON M5C 1R6. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.