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2013 RRIF Interest Rates

 

List of 24 of the Best RRIF Interest Rates in Canada.

 

View RRIF Interest Rates

RRIF Minimum Payment

The government specifies a minimum amount you have to withdraw from your RRIF each year to provide an increasing income until you reach age 94 when it levels out at 20% of your plan value. The reference guide below shows the minimum payment for RRIFs issued after 1993.

 

Infographic: RRIF Minimum Withdrawal Reference Guide View Infographic: RRIF Minimum Withdrawal Reference Guide

 

You can also base the minimum RRIF payment on your spouse if your spouse is younger. This will result in lower payments than if you used your own age and more money being left in your plan to accumulate tax-sheltered.

 

 

 

RRIF Withdrawal Reference Guide

 

Age RRIF Minimum Payment
60 3.33%
61 3.45%
62 3.57%
63 3.70%
64 3.85%
65 4.00%
66 4.17%
67 4.35%
68 4.55%
69 4.76%
70 5.00%
71 7.38% (5.26%)*
72 7.48% (5.56%)*
73 7.59% (5.88%)*
74 7.71% (6.25%)*
75 7.85% (6.67%)*
76 7.99% (7.14%)*
77 8.15% (7.69%)*
78 8.33%
79 8.53%
80 8.99%
81 8.99%
82 9.27%
83 9.58%
84 9.93%
85 10.33%
86 10.79%
87 11.33%
88 11.96%
89 12.71%
90 13.62%
91 14.73%
92 16.12%
93 17.92%
94+ 20.00%

 

(* if RRIF was established before 1993)

 

Registered Retirement Income Fund (RRIF)

 

A registered retirement income fund (RRIF) allows you to continue making investment in GICs and investment funds , while paying you an annual income.

 

The value of your plan and how long your income will last, depends on what kind of investments you choose, as well as how much income you plan to withdraw beyond the specified minimum.

 

 

Minimum Payment Formulas

There are two formulas to be used to calculate the RRIF minimum payments

 

1. 90 Age Formula

 

Minimum amount = Market value of RRIF as at Dec. 31 divided by 90 - the plan holder's age (as of Dec. 31)

 

2. Percentage Formula

 

Minimum amount = % based on age x RRIF value on Jan. 1 (see guide above)

 

For more information please see our RRIF Withdrawal Schedule 2013

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