How much do I have to withdraw from my RRIF each year?
By Krystian Urbanski, CIM, CIWM, FCSI, PFP · Chief Retirement Strategist, RetirementIQUpdated · 3 min read
Your RRIF minimum each year is your RRIF’s value on January 1 multiplied by a factor for your age at the start of the year: 5.28% at 71, 6.82% at 80, 11.92% at 90 and 20% from 95. Under 71 the factor is 1 ÷ (90 − your age). No tax is withheld on the minimum, but it is all taxable.
The RRIF minimum withdrawal table
Use your age (or your spouse’s, if you chose it when the RRIF was opened) on January 1 of the year.
| Age | Minimum | Age | Minimum | Age | Minimum |
|---|---|---|---|---|---|
| 65 | 4.00% | 76 | 5.98% | 87 | 9.55% |
| 70 | 5.00% | 77 | 6.17% | 88 | 10.21% |
| 71 | 5.28% | 78 | 6.36% | 89 | 10.99% |
| 72 | 5.40% | 79 | 6.58% | 90 | 11.92% |
| 73 | 5.53% | 80 | 6.82% | 91 | 13.06% |
| 74 | 5.67% | 81 | 7.08% | 92 | 14.49% |
| 75 | 5.82% | 82 | 7.38% | 93 | 16.34% |
| 83 | 7.71% | 94 | 18.79% | ||
| 84 | 8.08% | 95+ | 20.00% | ||
| 85 | 8.51% | ||||
| 86 | 8.99% |
Under 71 the factor is 1 ÷ (90 − age): 4.00% at 65, 5.00% at 70.
Timing and tax
- No minimum in the first year. The first minimum is due in the calendar year after you open the RRIF.
- No withholding on the minimum. The financial institution does not withhold tax on the minimum, but it is fully taxable; you may owe tax in April or need instalments.
- Withholding above the minimum (outside Quebec): 10% if the amount above the minimum is $5,000 or less, 20% if it is over $5,000 up to $15,000, and 30% if it is over $15,000. This is a prepayment, not the final tax.
- You can always take more than the minimum, but never less.
Paul is 74 on January 1 and his RRIF is worth $400,000. His minimum this year is 5.67% × $400,000 = $22,680. If he takes $30,000 instead, the extra $7,320 has 20% withheld ($1,464) as a prepayment of tax.
What to do next
- Check your RRIF’s January 1 value and multiply by your factor.
- Ask your institution to withhold some tax on the minimum if you want to avoid a bill in April.
- Consider using a younger spouse’s age when opening a RRIF.
- From 65, consider splitting RRIF income with your spouse.
Free tools that help
Related questions
Can I take my RRIF minimum in one lump sum?
Yes. You can take it monthly, quarterly, annually or as one payment, as long as the total for the year is at least the minimum.
What if I take more than the minimum one year?
The extra does not count toward future years. Next year’s minimum is calculated fresh from the January 1 value.
Can I move RRIF withdrawals into my TFSA?
Yes, if you have TFSA room. The withdrawal is still taxable, but future growth inside the TFSA is tax-free. The TFSA limit is $7,000 for 2026.
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