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Canada Sunday, July 23, 2017

 

RRIF Minimum Withdrawal Calculator

Calculate the new minimum withdrawal factors for your registered retirement income funds.

 

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

 

The minimum amount must be paid to you in the year after the year the RRIF is established. Earnings in a RRIF are tax-free, and amounts paid out of a RRIF are taxable when you receive them.

 

To determine your required minimum withdrawal, please use the RRIF minimum withdrawal calculator below.

 

The RRIF calculator takes into effect the Conservative government's new 2015 budget that changes the rules. Canadian seniors are now living longer and that is why the changes were made.

 

 

RRIF minimum withdrawal calculator

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DISCLAIMER

This information and content are provided for your general guidance, based on information we believe to be accurate, but without a guarantee of accuracy or completeness. This calculator is not intended to constitute financial or tax advice.

The Hughes Trustco Group Ltd makes no warranties, expressed or implied, as to the accuracy or completeness of the information contained herein. It shall not be liable for any losses or damages arising from any errors or omissions in such information or results, or any advice or decision made by you in reliance on any information or results.

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