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RRIF Withdrawal Calculator

"Plan your mandatory minimum withdrawals through retirement and understand how to preserve your capital."

Updated: March 7, 2026•Source: CRA / Service Canada

The Transition to Income

By age 71, you must convert your RRSP to a RRIF. The government then requires you to withdraw a minimum percentage each year, which increases as you get older. This tool helps you see how your balance will shrink over time.

📝 How to use

  • 1Enter your current RRIF (or RRSP) balance and your current age.
  • 2Set an expected annual investment return for the money remaining in the RRIF.
  • 3Review the annual withdrawal schedule and see how long the money lasts.

🎯 Real-World Scenarios

The Age 71 Rule

The mandatory rate starts at 5.28% at age 71 and climbs over 20% by age 95.

Depletion Risk

Higher mandatory withdrawals in later years can sometimes empty the account faster than you expect. Planning ahead is key.

Frequently Asked Questions

What is the minimum RRIF withdrawal?▼
The government sets a minimum percentage you must withdraw each year based on your age. For example, at age 71 it is roughly 5.28%, and it increases every year.
Can I use my younger spouse's age?▼
Yes! If you have a younger spouse, you can use their age to calculate your minimum withdrawal. This results in simpler (smaller) mandatory withdrawals, keeping more money tax-deferred for longer.
Is RRIF income taxable?▼
Yes, RRIF withdrawals are fully taxable as income at your marginal tax rate, just like employment income or RRSP withdrawals.

⚙️ Settings

65 yrs
$
CAD
5 %
Next 5 Years
Age 65Rate: 4.00%
$20,000End Balance: $500,000
Age 66Rate: 4.17%
$21,017End Balance: $504,000
Age 67Rate: 4.35%
$22,060End Balance: $507,132
Age 68Rate: 4.55%
$23,174End Balance: $509,326
Age 69Rate: 4.76%
$24,298End Balance: $510,459

What This Calculator Solves

This engine evaluates the required minimum withdrawals from your Registered Retirement Income Fund (RRIF) based on current CRA tables. It helps you visualize how your portfolio will deplete over time and ensures you are prepared for the increasing percentage of mandatory annual withdrawals as you age.

The 'Spouse-Age Election' Strategy

When you convert your RRSP to a RRIF (latest by age 71), you must select an age to base your mandatory minimum withdrawals on. Most people use their own age, but if you have a younger spouse, you have a powerful tax-deferral option.

Lowering the Minimum: By electing to use your younger spouse's age, your mandatory minimum withdrawal will be lower. For example, if you are 71 (5.28% minimum) but your spouse is 65 (4.00% minimum), you can leave more money in the tax-sheltered RRIF for longer.

Total Flexibility: You can always withdraw more than the minimum if you need the cash, but you can never withdraw less. Using a younger spouse's age gives you the greatest amount of control over your taxable income, helping you avoid unnecessary tax spikes and preserving your OAS benefits.

Methodology & Data Sources

We use the official CRA RRIF minimum withdrawal table to calculate annual factors. Projections assume withdrawals are made at the start of each year, and the remaining balance grows at your specified 'Expected Return'. Calculations are shown in 'nominal' (non-inflation adjusted) dollars to match how RRIF payments are actually received.

* Calculations are for educational purposes only.

Frequently Asked Questions

What is the minimum RRIF withdrawal?
The government sets a minimum percentage you must withdraw each year based on your age. For example, at age 71 it is roughly 5.28%, and it increases every year.
Can I use my younger spouse's age?
Yes! If you have a younger spouse, you can use their age to calculate your minimum withdrawal. This results in simpler (smaller) mandatory withdrawals, keeping more money tax-deferred for longer.
Is RRIF income taxable?
Yes, RRIF withdrawals are fully taxable as income at your marginal tax rate, just like employment income or RRSP withdrawals.
Can I withdraw more than the minimum?
Yes, you can always withdraw more than the annual minimum. However, keep in mind that every dollar withdrawn is taxed as ordinary income. Additionally, withdrawals *above* the minimum amount are subject to immediate withholding tax at source (10-30% depending on the amount).
What is the 'Spouse-Age Election'?
This is a powerful strategy for couples with an age gap. When you set up your RRIF, you can elect to use your younger spouse's age to calculate your minimum withdrawals. This results in a lower mandatory withdrawal rate, allowing more of your money to remain in the tax-sheltered RRIF environment for longer.
How is the RRIF factor determined?
The factor is essentially '1 divided by (90 minus your age)' for those under 71, and follows a specific government table for those 71 and older. The goal of the table is to ensure the account is gradually depleted over your lifetime while providing a steady stream of income.
Is there withholding tax on the minimum withdrawal?
No. Federal rules state there is no mandatory withholding tax on the minimum RRIF withdrawal amount. However, you can voluntarily ask your financial institution to withhold tax if you want to avoid a large bill at tax time.

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