RRIF Minimum Withdrawal Calculator 2026
The RRIF minimum withdrawal percentage for your age (or a younger spouse's), the dollar minimum, withholding on extra withdrawals, income tax in your province, the OAS clawback effect, projected minimums and balance over 20 years and the saving from pension income splitting.
| Prescribed factor | — |
|---|---|
| Using your spouse\'s age instead | — |
| Withdrawal chosen | — |
| Withholding tax at source | — |
| Income tax on the withdrawal | — |
| OAS clawback effect | — |
| Projected minimums (next years) | — |
| Balance after the projection | — |
| Pension income splitting | — |
In short
A RRIF must pay out a minimum each year from the year after conversion (due by the end of the year you turn 71): 5.28% of the 1 January balance at 71, 5.40% at 72, 6.82% at 80, 8.51% at 85 and 20% from 95 (1 ÷ (90 − age) before 71), with no withholding on the minimum and 10–30% withheld on extra amounts; $600,000 at 71 means a $31,680 minimum, or $25,000 using a 66-year-old spouse's age.
Who this is for: Retirees approaching 71 and RRIF holders planning withdrawals, tax and OAS exposure with a spouse.
RRIF minimum withdrawals: the table, the tax and the planning levers
By 31 December of the year you turn 71 an RRSP must become a RRIF (or an annuity), and from the following year a minimum percentage of the 1 January balance must be withdrawn and taxed as income: 5.28% at 71, 5.40% at 72, rising each year to 6.82% at 80, 8.51% at 85, 11.92% at 90 and 20% from 95. Before 71 the factor is 1 ÷ (90 − age) — 5% at 70, 4% at 65.
- No withholding on the minimum: tax is only withheld (10% / 20% / 30%) on amounts above it, so set aside money for the April bill or ask the institution to withhold more.
- Younger spouse election: basing the minimum on a younger spouse's age lowers the forced withdrawal — it must be chosen when the RRIF is set up.
- Income splitting: from 65, up to half of RRIF income can be allocated to a spouse's return, and $2,000 qualifies for the pension income credit.
- OAS clawback: RRIF withdrawals are net income, so large balances push retirees over the $95,323 threshold — drawing down earlier (60–70) at lower rates, or holding more in a TFSA, often reduces lifetime tax.
- Estate: a RRIF rolls to a surviving spouse tax-free; otherwise the full balance is income in the year of death, taxed at the top rate for large plans.
Assumptions
- Minimum = balance × factor (1 ÷ (90 − age) under 71; prescribed table 71–94; 20% at 95+); spouse election uses the younger age.
- Withholding 10% / 20% / 30% on the amount above the minimum; income tax = tax at (other income + withdrawal) − tax at other income.
- Projection withdraws each year's minimum and grows the remainder at the return entered; OAS effect uses the $95,323 threshold and the 65–74 maximum.
Worked example
Factor 5.28% → minimum $31,680 this year (no withholding); based on the 66-year-old spouse (1 ÷ 24 = 4.17%) it would be $25,000. Tax on the $31,680 stacked on $35,000 is about $7,390 (23.3%). Minimums rise to about $32,200 in year 2, $33,900 in year 5 and $36,800 in year 10 as the factor climbs; at a 5% return the balance is about $528,500 after 10 years and $333,200 after 20. Splitting half with a spouse with no other income saves roughly $3,900.
Frequently asked questions
What is the RRIF minimum withdrawal at 71?
5.28% of the 1 January balance — $26,400 on $500,000 — in the year you turn 72 (the year after conversion); there is no minimum in the year the RRIF is opened.
What are the RRIF withdrawal percentages by age?
1 ÷ (90 − age) before 71 (4% at 65, 5% at 70), then 5.28% at 71, 5.40% at 72, 5.53% at 73, 5.67% at 74, 5.82% at 75, 6.82% at 80, 8.51% at 85, 11.92% at 90 and 20% at 95 and over.
Is tax withheld on RRIF withdrawals?
Not on the minimum amount; 10% is withheld on excess amounts up to $5,000, 20% to $15,000 and 30% above (Quebec: 5/10/15% federal plus provincial). The full withdrawal is taxable at filing regardless.
Can I withdraw more than the minimum?
Yes, any amount at any time, subject to withholding and tax; many retirees withdraw more in the years before OAS or CPP start to smooth their tax brackets.
Can I use my spouse's age for the RRIF minimum?
Yes — electing a younger spouse's age when the RRIF is opened reduces the minimum (1 ÷ (90 − spouse's age) or the table at their age); the election cannot be changed later.
What happens to a RRIF when I die?
It transfers tax-free to a spouse or common-law partner (or financially dependent child); otherwise the entire balance is included in your final return — often taxed at the top rate — unless a charity is the beneficiary.
Is there a maximum RRIF withdrawal?
No — only locked-in plans (LIFs) from pensions have maximums; a RRIF can be drawn down entirely at any time, with tax and withholding.
Can I convert part of my RRSP to a RRIF early?
Yes, at any age — some people convert $12,000–$14,000 at 65 to create $2,000 a year of pension income for the pension income credit and splitting.
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