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RRIF Minimum Withdrawal Calculator

Once an RRSP converts to a RRIF, the government sets a real minimum you have to withdraw every year — and that percentage climbs every year you age, whether you want the income or not.

RRIF balance (start of year)

Your age (start of year)

Assumed growth rate, %/yr

Want to withdraw more than the minimum?

The minimum is a floor, not a ceiling — plenty of retirees need more income than that in a given year. Set what you'd actually withdraw to see how it changes things.

Actual annual withdrawal, $

How the minimum climbs as you age

Withdraws the minimum each year, then grows what's left at your assumed rate — a more realistic picture than assuming the money just sits still, since most RRIF holders stay invested through retirement, not just holding cash.

This isn't optional. Once you're required to withdraw, the minimum comes out whether you need the income or not — and it's taxed as regular income in the year it's withdrawn, same as any RRSP withdrawal. There's no way to leave it in past the required amount once RRIF minimums apply.

Where the percentages actually come from

Before age 71, there's no RRIF requirement at all — this only applies once a RRIF is set up (an RRSP must convert to a RRIF, or be cashed out, by the end of the year you turn 71). From 71 onward, the CRA publishes a specific percentage by age, rising from 5.28% at 71 to a flat 20% for anyone 95 or older. Under 71, if you've converted early, the formula is 1 ÷ (90 − your age).

Want this connected to your real retirement drawdown — how long your money actually lasts, not just this year's minimum?

Try the full retirement tool →

See how your RRSP grows before this point: RRSP Growth & Refund Calculator →