What is the RRIF minimum withdrawal?
Once you convert an RRSP to a Registered Retirement Income Fund (RRIF), the government requires you to withdraw a minimum amount every year so the money is gradually drawn down and taxed. There's no maximum — you can always take more — but you can't take less than the minimum.
How it's calculated
The minimum is your RRIF's fair market value on January 1 multiplied by a prescribed factor for your age at the start of that year:
- Age 70 or younger: factor = 1 ÷ (90 − your age). For example, at 65 that's 1 ÷ 25 = 4.00%.
- Age 71 and up: a fixed CRA schedule, rising from 5.28% at 71 to 20% at 95 and over.
RRIF minimum withdrawal factors by age
| Age | Factor |
|---|---|
| 65 | 4.00% |
| 66 | 4.17% |
| 67 | 4.35% |
| 68 | 4.55% |
| 69 | 4.76% |
| 70 | 5.00% |
| 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% |
| Age | Factor |
|---|---|
| 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+ | 20.00% |
Three things worth knowing
- Use the younger spouse's age to lower it. If your spouse is younger, you can base the minimum on their age — a smaller factor, a smaller forced withdrawal. The choice is made when the RRIF is set up and is permanent.
- No minimum the first year. There's no required withdrawal in the calendar year you open the RRIF; it starts the following year.
- Withholding only on the excess. The minimum has no tax withheld (but is taxable). Anything above the minimum has 10–30% withheld depending on the amount.
Should you take only the minimum?
Not always — RRIF timing affects your tax bracket, OAS clawback, and (for cross-border clients) U.S. tax. A complimentary call can model the right drawdown for you.
Book a complimentary call →Frequently asked questions
How is the RRIF minimum calculated?
RRIF value on January 1 × the CRA factor for your age at the start of the year. Under 71 the factor is 1 ÷ (90 − age); from 71 it's a fixed schedule up to 20% at 95+.
What's the minimum at age 71 and 72?
5.28% at 71 and 5.40% at 72, applied to the January 1 value.
Is there a minimum in the first year?
No — there's no required withdrawal in the year you open the RRIF. It begins the year after.
Can I reduce the minimum?
Yes, if your spouse is younger you can elect to use their age for a lower factor. It must be chosen at RRIF setup.
Is tax withheld on the minimum?
No withholding on the minimum (though it's taxable). Amounts above the minimum are withheld at 10–30%.
Educational information only — not tax or financial advice. This calculator uses the CRA prescribed RRIF minimum factors and your inputs to estimate the required minimum; your plan administrator's January 1 valuation governs the official figure. Confirm with the CRA or a qualified advisor before acting.