RRIF Minimum Withdrawal Calculator

Once an RRSP becomes a RRIF, Ottawa sets a minimum you must withdraw every year, rising from about 5% in your early 70s to a flat 20% at 95. See what that does to a real balance.

Reading This Tool

How To Use This Calculator

Enter your RRIF balance, current age, and expected return, and add any extra withdrawal beyond the required minimum.

Before 71, the minimum is simply 1 divided by (90 minus your age). At 71 it switches to a fixed, prescribed percentage table that climbs every year, whether the account is growing or not, the mandatory withdrawal keeps rising.

Your Inputs

Current RRIF Balance $500,000

Current Age 71

Expected Annual Return 5.0%

Projection Length 20 yrs

Additional Annual Withdrawal Beyond Minimum $0

Withdrawals are modeled at the start of each year, calculated on that year's opening balance, with the remainder growing at your expected return for the rest of the year, the standard convention.

This Year's Withdrawal

Required Minimum Withdrawal, This Year

Balance At End Of Projection

Total Withdrawn Over Projection

RRIF Balance & Annual Withdrawal Over Time

RRIF Balance (Left Axis Scale) Annual Withdrawal

Uses the standard post-1992 prescribed RRIF withdrawal factors. A spousal age election (using a younger spouse's age to reduce the minimum) isn't modeled here. Withdrawals are fully taxable as income in the year received.

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