RRIF Minimum Withdrawal
Calculator Canada 2026

A Registered Retirement Income Fund (RRIF) is a tax-deferred income-paying account that holds the savings transferred from a Registered Retirement Savings Plan (RRSP). Canadians must convert their RRSP to a RRIF (or annuity) by 31 December of the year they turn 71. From the year after the RRIF is opened, the holder must withdraw at least the CRA-set minimum each year. RRIFs preserve tax-deferred growth on the remaining balance — withdrawals are fully taxable as income, but the funds inside continue to compound tax-free until withdrawn.

Income Tax Regulations section 7308 sets the minimum percentages (for RRIFs opened after 1992): age 71 = 5.28%; 72 = 5.40%; 73 = 5.53%; 74 = 5.67%; 75 = 5.82%; 80 = 6.82%; 85 = 8.51%; 90 = 11.92%; 95+ = 20%. Pre-71 minimums use the formula 1/(90 − age). The minimum is calculated on the RRIF's market value at 1 January each year, multiplied by the percentage corresponding to the holder's age at the start of the year (or younger spouse's age if elected at RRIF opening).

By 31 December of the year you turn 71. Three options exist: (1) convert to RRIF (most common — preserves tax deferral and investment flexibility), (2) buy an annuity (locks in a guaranteed lifetime income), (3) full lump-sum withdrawal (entire RRSP becomes immediately taxable as income — usually the worst option). You don't have to wait until 71 — you can convert earlier if you want regular RRIF income before then. From 71 onwards, you cannot contribute new money to a RRIF (or RRSP).

There's no withholding on the minimum required amount. Above the minimum, financial institutions must withhold federal income tax: 10% on the first $5,000 over minimum, 20% on $5,001-$15,000 over min, 30% on amounts over $15,000 over min. In Quebec the rates are 5%, 10%, 15% federal plus a flat 16% Quebec provincial — so combined 21%, 26%, 31%. Withholding is just an installment toward your final tax bill — actual tax owed depends on your total income for the year. Some provinces (including Ontario, BC) apply only the federal portion.

RRIF withdrawals are added to your taxable income for the year and taxed at your marginal rate (federal + provincial combined). Federal rates 2025-26: 15% to $55,867; 20.5% to $111,733; 26% to $173,205; 29% to $246,752; 33% above. Provincial rates vary widely — Ontario 5.05% to 13.16%, BC 5.06% to 20.5%, Alberta 10% flat to 15%, Quebec 14% to 25.75%. The RRIF holder receives a T4RIF slip annually for tax filing. Pension income splitting with a spouse is allowed for RRIF withdrawals from age 65, potentially reducing combined household tax.

Yes — there is no cap on RRIF withdrawals. You can withdraw any amount above the minimum, subject to withholding tax on the excess (10/20/30% federal). However, larger withdrawals push you into higher marginal tax brackets and may also reduce or eliminate income-tested benefits like Old Age Security (OAS clawback starts at $93,454 net income in 2025-26 with full clawback at $151,668).

Old Age Security recovery tax (commonly called the 'OAS clawback') applies when net income exceeds the threshold — $93,454 for 2025-26 (indexed annually). For each dollar above the threshold, OAS is reduced by $0.15. Full clawback (OAS = $0) occurs at approximately $151,668 in 2025-26. RRIF withdrawals contribute to the income that triggers clawback, so timing larger withdrawals in lower-income years can reduce the lifetime OAS reduction. The clawback applies to the OAS pension only, not to GIS (Guaranteed Income Supplement) or to spouse benefits.

Yes — if you have a younger spouse or common-law partner, you can elect at RRIF opening to use their age for the minimum withdrawal calculation. This permanently reduces the required minimums (since younger ages have lower percentages) and keeps more capital growing tax-deferred. The election must be made when the RRIF is opened — it cannot be added or changed later. Both spouses' RRIFs can use either spouse's age, but the election is per-RRIF, not joint.

No, generally not. Once funds are in a RRIF, they cannot be moved back to an RRSP. The exception: if you meet RRSP contribution criteria (you have unused contribution room AND you are under 71 or have a younger spouse with room), you can use RRIF withdrawals (after tax) as cash that you then contribute to an RRSP — but this involves taxation on the withdrawal first. RRIF-to-RRIF transfers are allowed (changing institutions/investments). Direct RRSP contributions stop the year you turn 71.

Same eligible investments as RRSPs: GICs, government and corporate bonds, mutual funds, index ETFs, individual stocks (Canadian and qualifying foreign exchanges), labour-sponsored funds, REITs. Qualifying foreign holdings: NYSE-, NASDAQ-, LSE-listed and other prescribed exchanges. Cryptocurrency cannot be held directly in a RRIF (no RRIF-eligible custodial structure as of 2025-26), though Bitcoin/Ethereum ETFs trading on the TSX are eligible. Concentration in a single holding above 50% is not prohibited but is generally avoided for prudent investment.