2020 RRIF Withdrawal Rates

IMPORTANT NEWS: The federal government is reducing the minimum withdrawal rate from RRIFs in 2020 by 25%.

rrif withdrawal calculator
RRIF Withdrawal Calculator

RRIF Withdrawal Calculator

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2020 RRIF Minimum Withdrawal Rate Table

Age
(at start of year)
Normal Factor
(%)
Reduced by 25%
For 2020
55 2.86% 2.145%
56 2.94% 2.205%
57 3.03% 2.2725%
58 3.13% 2.3475%
59 3.23% 2.4225%
60 3.33% 2.4975%
61 3.45% 2.5875%
62 3.57% 2.6775%
63 3.70% 2.775%
64 3.85% 2.8875%
65 4.00% 3.00%
66 4.17% 3.1275%
67 4.35% 3.2625%
68 4.55% 3.4125%
69 4.76% 3.57%
70 5.00% 3.75%
71 5.28% 3.96%
72 5.40% 4.05%
73 5.53% 4.1475%
74 5.67% 4.2525%
75 5.82% 4.365%
76 5.98% 4.485%
77 6.17% 4.6275%
78 6.36% 4.77%
79 6.58% 4.935%
80 6.82% 5.115%
81 7.08% 5.31%
82 7.38% 5.535%
83 7.71% 5.7825%
84 8.08% 6.06%
85 8.51% 6.3825%
86 8.99% 6.7425%
87 9.55% 7.1625%
88 10.21% 7.6575%
89 10.99% 8.2425%
90 11.92% 8.94%
91 13.06% 9.795%
92 14.49% 10.8675%
93 16.34% 12.255%
94+ 18.79% 14.0925%
95 & over 20.00% 15.00%

What are the Minimum RRIF Withdrawal Rates?

Under the law, Canadians aged 71 must convert their RRSP into a RRIF or an annuity. Above are the minimum percentages Canadian seniors must draw down their RRIFs annually commencing no later than age of 71.

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