RRIF Guide
RRIF Minimum Withdrawals: The Full Table and How to Plan Around It
The year after you convert your RRSP to a RRIF, the government starts forcing money out — whether you need it or not. Here's exactly how much, and what you can do about it.
Last updated: 2026-07-29
How the RRIF minimum actually works
You must close your RRSP by December 31 of the year you turn 71. Most people convert it to a Registered Retirement Income Fund (RRIF), which keeps the money tax-sheltered — but with one crucial difference: starting the year after the RRIF is opened, you must withdraw a minimum percentage of the account every year, and every dollar withdrawn is taxable income.
The minimum for a given year is calculated as your RRIF's market value on January 1 multiplied by a percentage set by your age. Two details people miss:
- There is no withdrawal required in the year you open the RRIF. If you convert at 71, your first forced withdrawal happens in the year you turn 72.
- You can base the minimum on your spouse's age instead. If your spouse is younger, electing their age when you open the RRIF permanently lowers every year's minimum percentage. This election must be made when the RRIF is set up — it can't be added later.
The minimum withdrawal table
These factors are set by federal regulation and apply to RRIFs opened after 1992. The percentage applies to the account value at the start of each year:
| Age at Jan 1 | Minimum % | Age at Jan 1 | Minimum % |
|---|
| 65 | 4.00% | 81 | 7.08% |
| 66 | 4.17% | 82 | 7.38% |
| 67 | 4.35% | 83 | 7.71% |
| 68 | 4.55% | 84 | 8.08% |
| 69 | 4.76% | 85 | 8.51% |
| 70 | 5.00% | 86 | 8.99% |
| 71 | 5.28% | 87 | 9.55% |
| 72 | 5.40% | 88 | 10.21% |
| 73 | 5.53% | 89 | 10.99% |
| 74 | 5.67% | 90 | 11.92% |
| 75 | 5.82% | 91 | 13.06% |
| 76 | 5.98% | 92 | 14.49% |
| 77 | 6.17% | 93 | 16.34% |
| 78 | 6.36% | 94 | 18.79% |
| 79 | 6.58% | 95 and over | 20.00% |
| 80 | 6.82% | | |
Under 65, the formula is 1 ÷ (90 − age). A 60-year-old with a RRIF, for example, must withdraw 1/30 — about 3.33%.
A worked example: a $500,000 RRIF at age 72 forces a withdrawal of $27,000 that year (5.40%). At 85, the same account value would force $42,550 out. The percentages accelerate with age by design — the government deferred tax on this money for decades and wants it back during your lifetime.
The withholding-tax wrinkle
Withdrawals up to your annual minimum have no tax withheld at source — which does not mean they're tax-free. The full amount is still taxable income on your return; you may simply owe the tax at filing time instead. Amounts above the minimum face withholding of 10% (up to $5,000 over), 20% ($5,000–$15,000 over), or 30% (more than $15,000 over) everywhere except Quebec, which has its own rates.
A common surprise: retirees who take exactly the minimum all year, with no withholding, then discover at tax time that they owe thousands — and get put on CRA quarterly instalments for the following year. If your minimum withdrawal is large, ask your financial institution to withhold tax voluntarily on it.
Why forced withdrawals can cost more than the tax itself
RRIF withdrawals count in full as net income, which is the number the OAS recovery tax ("clawback") is tested against. In 2026 the clawback begins at $95,323 of net world income and removes 15 cents of OAS for every dollar above it. A large forced withdrawal can push you into the clawback band, effectively adding 15 percentage points to your marginal rate on those dollars.
The same net-income number also drives eligibility for the Guaranteed Income Supplement and several age-related credits. This is why RRIF planning isn't just about tax brackets — one forced withdrawal can ripple through three different programs at once. If you're near the threshold, run your numbers through our OAS Clawback Calculator before deciding how much to take beyond the minimum.
Five strategies worth knowing
1. Use the younger spouse's age
Electing a younger spouse's age at setup lowers every future minimum. A 71-year-old with a 65-year-old spouse starts at 4.00% instead of 5.28% — on a $500,000 RRIF, that's $6,400 less in forced taxable income in the first withdrawal year alone. You can always take more than the minimum in any year; the election only lowers the floor.
2. Consider an early "meltdown" before the clawback years
Some retirees deliberately withdraw from RRSPs in their 60s — before OAS starts, or while income is temporarily low — to shrink the account before mandatory minimums begin. This pays tax earlier at a lower rate in exchange for smaller forced withdrawals (and less clawback exposure) later. It's worth modelling carefully rather than assuming; the win depends on the rate spread between now and later.
3. Withdraw in kind if you don't need the cash
A minimum withdrawal doesn't have to be cash. You can transfer investments "in kind" from the RRIF to a TFSA (if you have room) or a non-registered account. Tax is still owed on the value withdrawn, but the money stays invested instead of sitting idle.
4. Convert a small slice at 65 for the pension income credit
From age 65, RRIF withdrawals qualify as eligible pension income for the federal pension income credit (on up to $2,000 a year) and for pension income splitting with a spouse. Some people convert a small portion of their RRSP to a RRIF at 65 specifically to generate $2,000 a year of withdrawals that soak up this credit — effectively low- or no-tax money if you have no other eligible pension income.
5. Split RRIF income with your spouse from 65
Up to 50% of RRIF withdrawals can be shifted to a spouse's return once you're 65. If your spouse is in a lower bracket — or you're near the OAS clawback threshold and they aren't — splitting can save meaningfully every single year. Details are in our OAS clawback guide.
Frequently asked questions
Can I withdraw more than the minimum?
Yes, any amount, any time — a RRIF has a floor but no ceiling. Amounts above the minimum face withholding tax at source, and everything is taxable income either way.
Can I skip a year if markets are down?
No. The minimum must come out every year regardless of performance (the government temporarily reduced minimums by 25% in 2020, but that was a one-time pandemic measure, not a standing rule). Withdrawing in kind at least avoids selling investments at depressed prices just to raise cash.
What happens to my RRIF when I die?
Left to a spouse or common-law partner (as successor annuitant or beneficiary), it rolls over tax-deferred. Left to anyone else, the full remaining value is generally taxable on your final return in one lump — often at the top bracket. This is a major reason estates owe more tax than families expect; see our probate planning guide for how the pieces fit together.
Do RRIF withdrawals affect OAS?
They count in full toward the net income the OAS recovery tax is tested against — see the section above, and check your own numbers with the OAS Clawback Calculator.
Official sources
Still in the contribution phase? The RRSP contribution limit calculator works out how much room you have and what a contribution returns.
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