A registered retirement income fund (RRIF) pays you back the savings you built in an RRSP, and the CRA sets a floor on how fast that happens. Each year from the year after the RRIF is opened, you must withdraw at least a set percentage of what the fund was worth on January 1. The percentage depends only on your age (or your spouse’s, if you chose that when the RRIF was set up). New to RRIFs? The guide to how a RRIF works and converting from an RRSP covers the basics first.
This page explains the rules; it is not tax or investment advice. Your RRIF carrier (the bank, credit union, brokerage or insurer holding the fund) calculates your exact minimum and shows it on your statement, and your T4RIF slip and CRA My Account show what was paid.
What are the RRIF minimum withdrawal rates for 2026?
From age 71, the minimum is a fixed percentage of the RRIF’s fair market value on January 1, read from the table below. The age that counts is your age at the start of the year. The same factors apply every year until the government changes them, so this table is valid for 2026 and later years unless the regulations are amended.
How to read this table: Find your age on January 1 of the year. Multiply the RRIF's value on that January 1 by the percentage. The last row applies at 95 and every age after. These are the factors for RRIFs set up today ('All other RRIFs' on the CRA chart).
| Age at January 1 | Minimum withdrawal (% of January 1 value) |
|---|---|
| 71 | 5.28% |
| 72 | 5.4% |
| 73 | 5.53% |
| 74 | 5.67% |
| 75 | 5.82% |
| 76 | 5.98% |
| 77 | 6.17% |
| 78 | 6.36% |
| 79 | 6.58% |
| 80 | 6.82% |
| 81 | 7.08% |
| 82 | 7.38% |
| 83 | 7.71% |
| 84 | 8.08% |
| 85 | 8.51% |
| 86 | 8.99% |
| 87 | 9.55% |
| 88 | 10.21% |
| 89 | 10.99% |
| 90 | 11.92% |
| 91 | 13.06% |
| 92 | 14.49% |
| 93 | 16.34% |
| 94 | 18.79% |
| 95 | 20% |
Source: Chart – Prescribed factors (RRIF) — Canada.ca; Minimum amount from a RRIF — Canada.ca; Income Tax Regulations, C.R.C., c. 945, section 7308 — Justice Laws Website; Economic Action Plan 2015 Act, No. 1 (S.C. 2015, c. 36), section 23 — Justice Laws Website. In effect from January 1, 2015; checked September 29, 2026.
A small number of RRIFs set up before 1993 (CRA calls them “qualifying RRIFs”) use a slightly different factor at age 71 only, and very old RRIFs set up before March 1986 and never amended use a separate column on the CRA chart. If your RRIF dates from before 1993, ask the carrier which column it uses.
How is the RRIF minimum calculated if you are under 71?
Before 71 there is no table value. The factor is 1 ÷ (90 − age), using your age at the start of the year. That makes the minimum smaller the younger you are, which matters for anyone who converts an RRSP early, for example to start drawing income at 65. The table below applies the formula; the percentages are rounded to two decimals, and the dollar column shows the minimum on a hypothetical $100,000 RRIF.
| Age at January 1 | Formula | Minimum rate | Minimum on $100,000 |
|---|---|---|---|
| 55 | 1 ÷ 35 | 2.86% | $2,857 |
| 56 | 1 ÷ 34 | 2.94% | $2,941 |
| 57 | 1 ÷ 33 | 3.03% | $3,030 |
| 58 | 1 ÷ 32 | 3.13% | $3,125 |
| 59 | 1 ÷ 31 | 3.23% | $3,226 |
| 60 | 1 ÷ 30 | 3.33% | $3,333 |
| 61 | 1 ÷ 29 | 3.45% | $3,448 |
| 62 | 1 ÷ 28 | 3.57% | $3,571 |
| 63 | 1 ÷ 27 | 3.70% | $3,704 |
| 64 | 1 ÷ 26 | 3.85% | $3,846 |
| 65 | 1 ÷ 25 | 4.00% | $4,000 |
| 66 | 1 ÷ 24 | 4.17% | $4,167 |
| 67 | 1 ÷ 23 | 4.35% | $4,348 |
| 68 | 1 ÷ 22 | 4.55% | $4,545 |
| 69 | 1 ÷ 21 | 4.76% | $4,762 |
| 70 | 1 ÷ 20 | 5.00% | $5,000 |
How much must you withdraw from a $100,000 RRIF at each age?
Percentages are easier to use as dollars. The table below turns the official factors for 71 and older into the yearly and monthly minimum on a hypothetical $100,000 balance on January 1. For another balance, scale it: a $250,000 RRIF needs two and a half times these amounts. The RRIF withdrawal calculator does this for your own balance and projects the next years.
| Age at January 1 | Yearly minimum on $100,000 | Monthly equivalent |
|---|---|---|
| 71 | $5,280 | $440 |
| 72 | $5,400 | $450 |
| 73 | $5,530 | $461 |
| 74 | $5,670 | $473 |
| 75 | $5,820 | $485 |
| 76 | $5,980 | $498 |
| 77 | $6,170 | $514 |
| 78 | $6,360 | $530 |
| 79 | $6,580 | $548 |
| 80 | $6,820 | $568 |
| 81 | $7,080 | $590 |
| 82 | $7,380 | $615 |
| 83 | $7,710 | $643 |
| 84 | $8,080 | $673 |
| 85 | $8,510 | $709 |
| 86 | $8,990 | $749 |
| 87 | $9,550 | $796 |
| 88 | $10,210 | $851 |
| 89 | $10,990 | $916 |
| 90 | $11,920 | $993 |
| 91 | $13,060 | $1,088 |
| 92 | $14,490 | $1,208 |
| 93 | $16,340 | $1,362 |
| 94 | $18,790 | $1,566 |
| 95 or older | $20,000 | $1,667 |
The monthly column is the yearly minimum divided by 12. It is not a separate rule: carriers let you take the minimum monthly, quarterly, once a year or in any pattern, as long as the full amount is paid by December 31.
Worked example: what does a real RRIF minimum look like?
Take a retiree who is 72 on January 1, 2026, with a RRIF worth $250,000 that day. The factor at 72 is 5.4%, so the minimum for 2026 is $13,500, or $1,125 a month if paid monthly. No tax is withheld on that minimum, but it is added to taxable income for 2026.
Now suppose the same person also asks for a one-time extra $10,000 in June to pay for a roof. The CRA treats that as a separate request from the regular minimum payments; it is above the minimum and falls in the “over $5,000, up to $15,000” band, so the carrier withholds 20%: $2,000 goes to the CRA and $8,000 arrives in the bank account. Whether $2,000 is too much or too little tax depends on total income for the year, which is settled on the return.
The spouse’s-age option. Had this person set up the RRIF using a spouse who was 64 on January 1, the factor would be 1 ÷ 26, and the 2026 minimum on the same balance would drop to about $9,615. That is roughly $3,885 less forced taxable income for the year, while still allowing extra withdrawals whenever needed.
Which age counts: yours or your spouse’s?
By default the minimum uses the RRIF holder’s age at the start of each year. When the RRIF is set up, the holder can instead elect to use the age of a spouse or common-law partner. Choosing the younger person’s age lowers every future minimum, because the factor is smaller at younger ages. The election is made with the carrier at set-up; if you transfer a RRIF to a new carrier, check the new paperwork carries the same choice.
RRIF withdrawal rules: when do withdrawals have to start?
An RRSP generally has to mature by the last day of the year you turn 71: the money moves to a RRIF, buys an annuity, or comes out as taxable income. No minimum applies in the year the RRIF is set up, so converting in the year you turn 71 means the first required payment comes the next year, at the factor for your age on that January 1 (usually 71). You can also convert earlier, and the under-71 formula then applies. If you are still weighing the RRSP side, the RRSP explainer covers contributions and the conversion deadline, and the annuity rates comparison shows the other option at 71.
Is tax withheld on RRIF withdrawals?
The minimum itself has no tax withheld. The CRA’s rule is that only the part of a payment above the minimum has tax withheld at source, at lump-sum rates based on the size of that excess:
How to read this table: The rate depends on the size of the excess amount requested (the whole amount takes that band's rate; it is not a bracket). Quebec residents also have Quebec provincial tax withheld on top of the federal part shown.
| Amount above the minimum | Withheld (outside Quebec) | Federal part withheld in Quebec |
|---|---|---|
| Up to $5,000 | 10% | 5% |
| Over $5,000, up to $15,000 | 20% | 10% |
| Over $15,000 | 30% | 15% |
Source: Tax rates on withdrawals — Canada.ca; Tax rates on withdrawals — Canada.ca (non-residents); Registered Retirement Savings Plans and Registered Retirement Income Funds (RRSPs/RRIFs) — Q&A for plan administrators, section 7 Withholding tax on payments from a RRIF; Registered Retirement Savings Plans and Registered Retirement Income Funds (RRSPs/RRIFs) — Q&A for plan administrators (tax on the minimum); Registered Retirement Savings Plans and Registered Retirement Income Funds (RRSPs/RRIFs) — Q&A for plan administrators (instalments, A7.1); Receiving income from a RRIF — Canada.ca; Receiving income from a RRIF — Canada.ca (pension income amount); Guide T4040, RRSPs and Other Registered Plans for Retirement — Canada.ca; Setting up a RRIF — Canada.ca. In effect from August 1, 2014; checked September 29, 2026.
Three details catch people out:
- Instalments of one request are rated on the total. If you ask for an extra $1,500 a month on top of the minimum as one standing request, that is $18,000 for the year, so the CRA’s position is that the 30% rate applies to each instalment ($450 a month), not 10%.
- Withholding is not the final tax. The minimum has nothing withheld, and the lump-sum rates are estimates. Any tax still owing is due by April 30 of the following year. A retiree can ask the carrier to withhold more by filing Form TD1 with it.
- Non-residents are different. Payments to non-residents generally have 25% withheld unless a tax treaty lowers it.
Every dollar out of a RRIF, minimum or not, is taxable income. That can push net income past the OAS recovery-tax threshold; the OAS clawback thresholds page shows where that starts. If you are 65 or older on December 31, RRIF income also qualifies for the pension income amount and may be shared through pension income splitting, and the RRSP withdrawal tax calculator estimates the tax on a lump sum.
What are the LIF withdrawal rates?
A life income fund (LIF) is the locked-in version of a RRIF, holding money that came from a registered pension plan (often via a LIRA). It has the same minimum as a RRIF, but pension law also caps how much can come out each year, so the balance lasts. Who sets the cap depends on where the pension was regulated:
- Federally regulated pensions (plans under the Pension Benefits Standards Act, 1985): the maximum comes from the Pension Benefits Standards Regulations, 1985, and OSFI publishes a table each year. For 2026 it uses the November 2025 long-term Government of Canada bond yield (3.49%) for the first 15 years and 6% after that.
- Provincially regulated pensions: the province’s pension law sets the maximum, and the formulas and tables differ between provinces. Check your LIF statement, ask the LIF carrier, or look up your province’s pension regulator (in Ontario, the Financial Services Regulatory Authority).
How to read this table: Use your age on December 31, 2025 and multiply the balance on January 1, 2026 by the percentage. In the year a LIF is opened the maximum is prorated by the months left in the year. If the RRIF minimum is ever higher than this maximum, the maximum becomes the minimum. Provincially regulated LIFs use different rules.
| Age on December 31, 2025 | Maximum for 2026 (% of January 1, 2026 balance) |
|---|---|
| 50 | 4.9931% |
| 51 | 5.0302% |
| 52 | 5.0701% |
| 53 | 5.1131% |
| 54 | 5.1595% |
| 55 | 5.2096% |
| 56 | 5.2637% |
| 57 | 5.3224% |
| 58 | 5.3861% |
| 59 | 5.4552% |
| 60 | 5.5304% |
| 61 | 5.6125% |
| 62 | 5.7022% |
| 63 | 5.8005% |
| 64 | 5.9084% |
| 65 | 6.0272% |
| 66 | 6.1586% |
| 67 | 6.3042% |
| 68 | 6.4662% |
| 69 | 6.6474% |
| 70 | 6.8508% |
| 71 | 7.0804% |
| 72 | 7.3413% |
| 73 | 7.6397% |
| 74 | 7.9836% |
| 75 | 8.3837% |
| 76 | 8.8423% |
| 77 | 9.3729% |
| 78 | 9.9935% |
| 79 | 10.7287% |
| 80 | 11.6128% |
| 81 | 12.6955% |
| 82 | 14.0512% |
| 83 | 15.7970% |
| 84 | 18.1280% |
| 85 | 21.3952% |
| 86 | 26.3008% |
| 87 | 34.4831% |
| 88 | 50.8575% |
| 89 | 100.0000% |
Source: Life Income Funds, Restricted Life Income Funds, and Variable Benefits Accounts — OSFI (Table 1, 2026); Life Income Funds, Restricted Life Income Funds, and Variable Benefits Accounts — OSFI (Table 1 age basis); Life Income Funds, Restricted Life Income Funds, and Variable Benefits Accounts — OSFI (Table 1 values); Life Income Funds, Restricted Life Income Funds, and Variable Benefits Accounts — OSFI (minimum and maximum); Life Income Funds, Restricted Life Income Funds, and Variable Benefits Accounts — OSFI (Table note 1). In effect from January 1, 2026 to December 31, 2026; checked September 29, 2026.
Reading the two tables together: at every age from 50 to 89 the federal LIF maximum for 2026 sits above the RRIF minimum, so a LIF holder chooses an amount somewhere between the two. By 89 the federal maximum reaches the whole balance. Money moved into a federal LIF during the year does not raise that year’s maximum, because it is based on the January 1 balance.
Common RRIF withdrawal mistakes
- Using the wrong age. The factor is based on age at the start of the year (or the spouse’s age if elected at set-up), not the age reached later in the year.
- Forgetting that the minimum is taxable. Nothing is withheld on it, so a retiree with other income (CPP, OAS, a workplace pension) can face a balance owing in April.
- Splitting a big request into monthly payments to get the 10% rate. The CRA looks at the total of a single request, and treats a series of requests made close together (or on the same day) as one.
- Missing the spouse’s-age election. It is chosen when the RRIF is set up, so it is easy to overlook in the rush to convert at 71.
- Treating a LIF like a RRIF. A LIF has a maximum; a RRIF does not.
- Withdrawing only the minimum out of habit. Sometimes taking more in lower-income years, before OAS and CPP start, smooths tax over retirement. The retirement income optimizer models that order of withdrawals.
What if your RRIF payment looks wrong or late?
The carrier calculates the minimum and pays it, so start there: ask it to show the January 1 value, the age and factor it used, and whether a spouse’s-age election is on file. The full minimum has to be paid out by December 31, so raise a missing payment with the carrier before year end, not after. For tax, the carrier issues a T4RIF slip showing RRIF income and any tax withheld, and the same figures appear in CRA My Account. If the slip is wrong, ask the carrier for an amended slip; the CRA can then reassess.
Will the RRIF withdrawal rates change?
The RRIF factors sit in section 7308 of the Income Tax Regulations. They last changed for the 2015 tax year, when the federal government lowered the factors for ages 71 to 94; the CRA’s chart was last modified on October 1, 2025 and still matches them. That change was made through the Economic Action Plan 2015 Act, No. 1, a budget implementation law. Any future change would need a new amendment to the regulations, and this page will be updated when that happens. Federal LIF maximums are different: they are recalculated every year from the previous November’s long-term bond yield, so the 2027 table will use the November 2026 yield.
Where can you hold a self-directed RRIF?
RRIFs are offered by banks, credit unions, trust companies, insurers and brokerages, and the minimum rules are identical everywhere. The choice is really about what the RRIF holds and what it costs. A self-directed RRIF at a brokerage lets you pick your own ETFs, stocks or GICs; for example, Wealthsimple’s self-directed account types are TFSA, RRSP, FHSA, RESP, LIRA, RRIF, non-registered (cash and margin), and corporate accounts, and it accepts transfers of non-registered (individual and joint), TFSA, RRSP, spousal RRSP, FHSA, RRIF, spousal RRIF, LIRA, LIF, pension, RESP, business, and margin accounts. If moving an RRSP or RRIF to a self-directed account is the next step for you, Wealthsimple's self-directed RRIF is one option to compare with your current carrier’s fees. The Wealthsimple RRSP page covers how its registered accounts work before conversion.