RRIF Calculator — Plan Your Retirement Income Withdrawals
Calculate minimum RRIF withdrawals based on your age and account balance. Plan your retirement income to minimize tax and maximize your IF corpus longevity.
A Registered Retirement Income Fund is the natural successor to your RRSP. You must convert your RRSP to a RRIF by December 31 of the year you turn 71. Each year you must withdraw a minimum amount based on your age and the January 1 balance of your RRIF. The minimum withdrawal percentage starts at 5.28% at age 71 and increases annually. All RRIF withdrawals are taxable income.
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Key Information
| Parameter | Details |
|---|---|
| Conversion Deadline | December 31 of year you turn 71 |
| Minimum at Age 71 | 5.28% of January 1 balance |
| Minimum at Age 80 | 6.82% of January 1 balance |
| Minimum at Age 90 | 11.92% of January 1 balance |
Plan your RRIF withdrawals
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Use Calculator NowFrequently Asked Questions
How much must I withdraw from my RRIF?
The minimum withdrawal is a percentage of your RRIF balance on January 1 multiplied by the prescribed percentage for your age. At age 72 with a $500000 balance the minimum is $500000 x 5.40% = $27000. You can elect to use your younger spouse age for a lower minimum. You can always withdraw more than the minimum but cannot withdraw less.
Can I minimize tax on RRIF withdrawals?
Strategy 1: Use your younger spouse age to calculate lower minimums. Strategy 2: Withdraw only the minimum to keep more invested and growing tax-deferred. Strategy 3: Combine RRIF income with pension income splitting to reduce family tax. Strategy 4: Consider making charitable donations to offset RRIF income with tax credits.
What happens to my RRIF when I die?
Your RRIF can roll over tax-free to your surviving spouse or common-law partner who continues withdrawals. If no qualifying beneficiary exists the full remaining balance is included as income on your final tax return potentially creating a large tax bill. Naming your spouse as successor annuitant (not just beneficiary) ensures the smoothest transfer.
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Last updated: March 2026