Once your RRSP becomes a RRIF, the CRA requires a minimum withdrawal every year (starting the year after the RRIF opens). The percentages are fixed by regulation. Here is the complete table, with the dollar minimum on a $500,000 RRIF as a working example.
Before age 71: the formula
Under 71, the minimum is 1 ÷ (90 − your age). At 65 that's 1 ÷ 25 = 4.00%; at 60, 1 ÷ 30 = 3.33%. From 71 onward the regulated factors below apply.
The official table (age on January 1)
| Age | Minimum % | On a $500,000 RRIF |
|---|
| 65 | 4.00% | $20,000 |
| 66 | 4.17% | $20,850 |
| 67 | 4.35% | $21,750 |
| 68 | 4.55% | $22,750 |
| 69 | 4.76% | $23,800 |
| 70 | 5.00% | $25,000 |
| 71 | 5.28% | $26,400 |
| 72 | 5.40% | $27,000 |
| 73 | 5.53% | $27,650 |
| 74 | 5.67% | $28,350 |
| 75 | 5.82% | $29,100 |
| 76 | 5.98% | $29,900 |
| 77 | 6.17% | $30,850 |
| 78 | 6.36% | $31,800 |
| 79 | 6.58% | $32,900 |
| 80 | 6.82% | $34,100 |
| 81 | 7.08% | $35,400 |
| 82 | 7.38% | $36,900 |
| 83 | 7.71% | $38,550 |
| 84 | 8.08% | $40,400 |
| 85 | 8.51% | $42,550 |
| 86 | 8.99% | $44,950 |
| 87 | 9.55% | $47,750 |
| 88 | 10.21% | $51,050 |
| 89 | 10.99% | $54,950 |
| 90 | 11.92% | $59,600 |
| 91 | 13.06% | $65,300 |
| 92 | 14.49% | $72,450 |
| 93 | 16.34% | $81,700 |
| 94 | 18.79% | $93,950 |
| 95 and over | 20.00% | $100,000 |
The rules around the table
- Younger spouse's age. You may elect your spouse's age for the calculation — permanently lower minimums. The election must be made before the first payment.
- No withholding on the minimum. Tax is withheld only on amounts above the minimum (10/20/30%; Quebec differs). The minimum itself is still fully taxable at filing — plan instalments accordingly.
- Conversion deadline. Your RRSP must become a RRIF (or annuity) by December 31 of the year you turn 71; the first forced minimum applies the following year.
- In-kind withdrawals count. You can move shares out without selling — the market value that day satisfies the minimum.
- Pension credit & splitting. RRIF withdrawals from 65 qualify for the pension income credit and for splitting up to 50% with your spouse — a key OAS-clawback defence.
FAQ
What happens if I withdraw less than the minimum?
The shortfall is subject to a penalty tax (1% per month under the RRIF rules' excess provisions) — in practice your financial institution automatically pays out at least the minimum, so shortfalls are rare.
Can I withdraw more than the minimum?
Always — a RRIF has no maximum (unlike some locked-in funds). Amounts above the minimum face withholding at source, and everything is taxable income.
Do these percentages change?
They're set by regulation and have been stable since the 2015 reduction. Only Parliament changes them (2020's one-time 25% COVID reduction was the exception, not a pattern).
Is the minimum based on this year's balance?
No — on the RRIF's market value on January 1 of the year, multiplied by the factor for your age on that date.
Sources: Canada Revenue Agency (prescribed RRIF factors, Income Tax Regulations), Income Tax Act (conversion age, spousal election) · Updated August 2026.
