RRIF Minimum Withdrawal Rates

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The table below shows the RRIF minimum payout percentages for different ages. As you can see, the annual percentage payouts gradually increase to age 95.

70 and under ​Calculated as 1/(90 – age)

For example, at age 65:
1/(90 – 65) = 4.00%

Age At Start Of Year RRIFs Set Up After The End Of 1992
65 4.00%
66 4.17%
67 4.35%
68 4.55%
69 4.76%
70 5.00%
71 5.28%
72 5.40%
73 5.53%
74 5.67%
75 5.82%
76 5.98%
77 6.17%
78 6.36%
79 6.58%
80 6.82%

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Age At Start Of Year RRIFs Set Up After The End Of 1992
81 7.08%
82 7.38%
83 7.71%
84 8.08%
85 8.51%
86 8.99%
87 9.55%
88 10.21%
89 10.99%
90 11.92%
91 13.06%
92 14.49%
93 16.34%
94 18.79%
95 and older 20.00%

You have to start withdrawing money from your RRIF in the year after you open it. The federal government sets the minimum amount you must take out of your RRIF every year. It’s based on a percentage of the value of your RRIF.

Here’s how it works:

  • The minimum amount increases as you get older.
  • If your spouse is younger than you, you can use their age to calculate your minimum amount. The lower the age, the lower the minimum amount and the less income tax you’ll pay on the withdrawals.
  • You can choose to make regular monthly, quarterly, semi-annual or annual withdrawals.
  • All withdrawals are fully taxable.

* Keep in mind that different rules apply for RRIFs that were set up before the end of 1992.