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RRIF minimum payment

What this is

Mandatory RRIF withdrawals + year-by-year balance trajectory.

RRSPs must convert to a RRIF by Dec 31 of the year you turn 71. Each year you must withdraw at least the prescribed minimum (a percentage that rises with age). All RRIF withdrawals are taxed as ordinary income.

  • ·At 71: minimum 5.28%. At 80: 6.82%. At 90: 11.92%. At 95+: 20%.
  • ·Spousal-age basis: use the younger spouse's age to lower the minimum each year.
  • ·Above-minimum withdrawals are subject to withholding tax (5/20/30% depending on amount).

Year 1 minimum

$26,400

Year 1 monthly

$2,200

Year 1 actual draw

$26,400

RRIF balance trajectory by age

$0$124K$249K$373K$497K048111519End-of-year balance (CAD)Years out
AgeStart balanceMinActualEnd balance
71$500,000$26,400$26,400$497,280
72$497,280$26,853$26,853$493,948
73$493,948$27,315$27,315$489,965
74$489,965$27,781$27,781$485,293
75$485,293$28,244$28,244$479,901
76$479,901$28,698$28,698$473,763
77$473,763$29,231$29,231$466,759
78$466,759$29,686$29,686$458,926
79$458,926$30,197$30,197$450,165
80$450,165$30,701$30,701$440,437
81$440,437$31,183$31,183$429,717
82$429,717$31,713$31,713$417,904
83$417,904$32,220$32,220$404,968
84$404,968$32,721$32,721$390,859
85$390,859$33,262$33,262$375,477
86$375,477$33,755$33,755$358,807
87$358,807$34,266$34,266$340,768
88$340,768$34,792$34,792$321,275
89$321,275$35,308$35,308$300,265
90$300,265$35,792$35,792$277,697

2026 Canadian RRIF minimum-withdrawal factors. The first $2,000/yr qualifies for the federal pension-income credit if you're 65+ — RRIF income counts.

Disclaimer

Educational, not financial advice. Output is generated by an AI assistant using simplified assumptions. Tax rates, contribution limits, and benefit amounts change annually; confirm with a CFP, CPA, or the relevant Canadian regulator (CRA, FSRA, OSC, IIROC) before acting.