RRIF Minimum Payment
The Canadian 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.
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.
| 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)