RRIF Minimum Withdrawal Calculator
By the end of the year you turn 71, your RRSP must become a RRIF (or annuity) — and every year you must withdraw at least the CRA minimum. Enter your balance and age to see yours.
How to use this calculator
- Enter account value on January 1.
- Enter your age this year.
- Your results appear instantly below and update as you change the numbers.
How this calculator works
A RRIF is the retirement version of an RRSP: the money keeps growing tax-deferred, but each year you must withdraw at least the prescribed minimum, based on your age on January 1 (or your younger spouse's age, if you choose). The factors come from the official CRA chart: 5.28% at 71, 5.40% at 72, rising to 6.36% by 78, 10.21% by 88, and 20% at 95 and older. Withdrawals are fully taxable as income. Worked example: a $500,000 RRIF at age 71 requires a minimum withdrawal of about $26,400 a year — roughly $2,200 a month — and that minimum percentage climbs each year as you age. Taking the minimum is usually the right call if you don't need the money: the account keeps earning, and the OAS clawback is triggered only if your income is high enough.
Frequently asked questions
When must I convert my RRSP to a RRIF?
By the end of the year you turn 71. You can convert earlier — many people convert in their 60s to start the minimum withdrawals (you can withdraw from an RRSP directly before 71, but it's often better to convert deliberately). After conversion, the first minimum withdrawal is due in the year after the RRIF is opened.
Can I base the minimum on my spouse's age?
Yes. If your spouse or common-law partner is younger, you can elect to use their age for the minimum factor, which lowers your required withdrawal and lets the account grow longer. The election must be made in writing and applies from the start of the year.
What happens if I withdraw more than the minimum?
Nothing special — you can withdraw any amount above the minimum, subject to withholding tax on amounts over the minimum (the minimum itself has no withholding). Larger withdrawals are simply taxable income in that year. Note that RRIF withdrawals count as income for the OAS clawback, which starts at $91,310 of income in 2026.
Disclaimer: Results are estimates for general information only and do not constitute financial, tax, or legal advice. Figures reflect the current tax year and may change. Always confirm current limits and consult a qualified professional before making decisions. Official figures: canada.ca tax rates · CPP rates · CMHC mortgage insurance.