RRIF Minimum Withdrawal Calculator Canada

What the RRIF minimum withdrawal calculator does

A Registered Retirement Income Fund is the account most Canadians use to draw income from RRSP savings, and once it is running you must withdraw at least a minimum each year. The calculator gives that minimum from your age and the balance at the start of the year. RRIF withdrawals are taxable and the required amount rises with age, so knowing it helps you plan your tax.

How the minimum is worked out

Each age has a prescribed factor, and the year’s minimum is that factor times your start-of-year balance; the monthly figure is that divided by twelve. Before 71 the factor is 1 ÷ (90 − your age), which spreads the fund over the remaining years to 90. From 71 a fixed schedule applies, climbing each year to 20% at 95 and over. Because the balance is fixed at the start of the year, the minimum is known from day one, however the market moves.

A worked example

At 71 with $200,000 in the RRIF at the start of the year, the factor is 5.28%, so the minimum is $10,560, about $880 a month, leaving $189,440.

With the same $200,000 at 81, the factor is 7.08% and the minimum about $14,160, roughly $1,180 a month. That is about $3,600 more in required income from the same balance purely because of age, which is why the minimum tends to rise over retirement even when the balance is flat or falling.

Why the rising factor matters for tax

Every dollar withdrawn is taxable in the year you take it. As the factor climbs, required income can push you into a higher bracket or reduce income-tested benefits, including through the OAS recovery tax. Some retirees withdraw more than the minimum in early RRIF years, when the factor is low, to shrink the larger forced withdrawals later; others coordinate RRIF income with other sources to keep taxable income steady.

Withdrawing above the minimum

You can withdraw more at any time. Amounts above the minimum have tax withheld at source, while the minimum itself has none withheld but is still taxable when you file. Money that leaves a RRIF loses its tax-deferred growth, so withdrawing more than you need just to move it out is rarely efficient.

Using a younger spouse’s age

When you set up a RRIF you can elect to use a younger spouse’s or common-law partner’s age to set the factor. A younger age carries a lower factor, reducing the minimum every year, which can keep you in a lower bracket and protect benefits such as Old Age Security, at the cost of drawing the fund down more slowly. The election is made when the RRIF is established and generally cannot be changed later. To see the effect, enter your partner’s age here in place of your own and compare.

Provincial tax and withholding

Provincial income tax applies on top of federal tax on RRIF income, based on where you live on December 31, so the same minimum leaves different net amounts in different provinces. Quebec residents have separate Quebec withholding on amounts above the minimum and file a separate provincial return.

Forms and where to confirm

Your financial institution reports RRIF income on a T4RIF slip, which goes on your T1 return. Confirm your exact minimum, any withholding and the rules for the year the RRIF is opened with your institution, and check tax decisions with a qualified professional. Factors and rules can change over time.

This is general information, not financial advice.

About This RRIF Minimum Withdrawal Calculator

Use this RRIF minimum withdrawal calculator to get an instant, accurate estimate. The figures follow official CRA guidance and every rate and threshold is kept up to date for 2026. Adjust the inputs above to match your situation, or browse all our calculators to plan your next step.