RRIF Withdrawal Rules
RRIF minimum withdrawal factors by age, withholding on extra withdrawals, the spouse-age election, splitting and what happens at death.
The short version
- Each year after the first, you must take at least a minimum: the RRIF's January 1 value times a factor for your age. Under 71 it's 1 ÷ (90 – age); at 71 it's 5.28%, at 80 6.82%, and from 95 on 20%.
- No tax is withheld from the minimum, but all of it is taxable. Anything over the minimum has 10%, 20% or 30% withheld, depending on the amount.
- You can base the minimum on a younger spouse's age, if you choose it before the first payment. It can't be changed later.
- There's no maximum for a regular RRIF (a LIF has one). Taking more than the minimum is allowed; it's just taxed.
- From 65, RRIF income qualifies for the pension income amount and pension splitting.
RRIF Withdrawal Rules
A RRIF is an RRSP that has switched from saving to spending, with a government-issued spending schedule. The schedule only sets a floor. How much above it you take, when in the year, and in whose age you calculate it are your decisions, and each one changes the tax bill for the next twenty years. Here are the rules, then the decisions.
Minimum Withdrawal Factors
| Age on Jan 1 | Factor | Minimum on $300,000 | Age on Jan 1 | Factor |
|---|---|---|---|---|
| 65 | 4.00% | $12,000 | 81 | 7.08% |
| 70 | 5.00% | $15,000 | 82 | 7.38% |
| 71 | 5.28% | $15,840 | 83 | 7.71% |
| 72 | 5.40% | $16,200 | 84 | 8.08% |
| 73 | 5.53% | $16,590 | 85 | 8.51% |
| 74 | 5.67% | $17,010 | 86 | 8.99% |
| 75 | 5.82% | $17,460 | 87 | 9.55% |
| 76 | 5.98% | $17,940 | 88 | 10.21% |
| 77 | 6.17% | $18,510 | 89 | 10.99% |
| 78 | 6.36% | $19,080 | 90 | 11.92% |
| 79 | 6.58% | $19,740 | 91 to 94 | 13.06% to 18.79% |
| 80 | 6.82% | $20,460 | 95 and over | 20.00% |
Your own minimum and a ten-year projection are in the RRIF minimum withdrawal calculator.
How much should you take out this year?
Give the assistant your RRIF balance, age, other income, your spouse's income and province. It compares the minimum with larger withdrawals, including the tax, the OAS clawback and pension splitting.
Tax Withheld on RRIF Payments
| Amount over the minimum | Withheld (outside Quebec) |
|---|---|
| The minimum itself | Nothing, unless you ask |
| Up to $5,000 | 10% |
| $5,000.01 to $15,000 | 20% |
| Over $15,000 | 30% |
Example: a 72-year-old with $400,000 on January 1 has a minimum of $21,600 and takes $35,000. The extra $13,400 has 20% ($2,680) withheld. The minimum has none, which is why many retirees owe in April. Ask the RRIF provider to withhold from the minimum too, or see tax instalments if CRA starts sending reminders.
The Decisions That Save Tax
- Younger spouse's age. At 72 with a 65-year-old spouse, the factor drops from 5.40% to 4.00%. Choose it before the first payment; it's permanent.
- Split it. From 65, up to half of RRIF income can go on a spouse's return; see pension income splitting.
- Fill the low brackets. If your income is low in some years, taking more than the minimum then can mean less tax over a lifetime than being forced to take large minimums at 85.
- Mind the OAS line. Every RRIF dollar counts toward the OAS clawback.
- Take it late in the year if you don't need it monthly. The money stays sheltered longer.
- Withdraw in kind. You can take shares out instead of cash to meet the minimum, then move them to a TFSA if you have room.
At Death
With your spouse named as successor annuitant, the RRIF simply continues in their name. Otherwise the full value is generally income on your final return, which can be a very large tax bill; see the final return. Setting up the RRIF in the first place is covered on converting an RRSP to a RRIF, and the total tax on your retirement income in the retirement income tax calculator.
RRIF Withdrawal Questions
How is the RRIF minimum withdrawal calculated?
Multiply the RRIF’s fair market value on January 1 by the prescribed factor for your age on that date. Under 71 the factor is 1 divided by (90 minus your age); from 71 it comes from a table, rising from 5.28% at 71 to 20% at 95 and over.
Is tax withheld on RRIF minimum withdrawals?
No, not on the minimum, unless you ask for it. Amounts above the minimum have 10%, 20% or 30% withheld, depending on the size of the excess. All RRIF withdrawals are taxable income.
Is there a minimum withdrawal in the first year of a RRIF?
No. The first minimum applies in the calendar year after the RRIF is set up.
Can I base my RRIF minimum on my spouse’s age?
Yes, if you elect it before receiving any payment from the RRIF. Using a younger spouse’s age lowers the minimum, and the election cannot be changed later.
Can I withdraw more than the minimum from a RRIF?
Yes. A regular RRIF has no maximum. Amounts over the minimum have tax withheld and are taxable. A LIF, which holds locked-in pension money, has a yearly maximum.
Sources: CRA, IC78-18R7, Registered Retirement Income Funds; Guide T4040. Checked October 2026. A one-year 25% cut to RRIF minimums was promised in the 2025 federal election campaign but was not in Budget 2025; we know of no change to the minimums for 2026, and will update if one is passed. Quebec withholding rates differ.
Last reviewed October 5, 2026 against CRA and Government of Canada sources. How we check our facts.