Registered Retirement Income Fund (RRIF)

A RRIF allows an investor to convert his or her retirement savings into retirement income. Any time before the end of the year you turn 71, RRSPs must be converted to RRIFs. There is a minimum annual withdrawal required each year based on the value of the RRIF and the plan holder's age (or spouse's age) at the beginning of the year the withdrawal takes place. The payments made to you from your RRIF are taxable, but the investment in a RRIF continues to grow tax-deferred until they are withdrawn.

Withdrawing From the RRIF

You are required by law to withdraw a minimum annual amount from your RRIF which corresponds to a percentage of the value of the fund on January 1 of each year. All withdrawals are taxable. There is no minimum withdrawal, you control your RRIF.

Table of RRIF Minimum Withdrawals
Age Withdrawal Age Withdrawal
65 4.00% 83 9.58%
66 4.17% 84 9.93%
67 4.35% 85 10.33%
68 4.55% 86 10.79%
69 4.76% 87 11.33%
70 5.00% 88 11.96%
71 7.38% 89 12.71%
72 7.48% 90 13.62%
73 7.59% 91 14.73%
74 7.71% 92 16.12%
75 7.85% 93 17.92%
76 7.99% 94 20.00%
77 8.15% 95 20.00%
78 8.33% 96 20.00%
79 8.53% 97 20.00%
80 8.75% 98 20.00%
81 8.99% 99 20.00%
82 9.27% 100 20.00%
Get More Information