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Calculators > RRIF calculator

RRIF calculator

Will calculate:

	minimum withdrawals for your RRIF, as specified by the Income Tax Act
	how long your RRIF will last using a fixed annual withdrawal adjusted for inflation
	the maximum annual withdrawals that can be made for your investments to last a specified number of years

As per 2008 Federal Economic and Fiscal Statement, the 2008 minimum withdrawal is reduced by 25% in this calculator.

The calculator also waives the minimum withdrawal in 2008 for taxpayers who turned 70 in 2007.

If you turned 70 in 2007, and are using the age of a spouse or common-law partner to determine the prescribed factor for your minimum withdrawals, you will have to use the RRIF calculator in 2 stages if you want to take advantage of the minimum withdrawal being waived in 2008.

	First, input your age and other information, with 2008 as the current year, and Calculate.
	Use the calculated ending balance from 2008 as the beginning balance for the next calculation.
	Change the current year to 2009.
	Input your spouse's age at Dec 31, 2008, and Calculate

If you have not yet converted your RRSP to a RRIF, see the RRSP/RRIF calculator, which can only be used for RRIFs which were set up after 1992. The RRSP/RRIF calculator allows input of many more variables, such as different rates of return or withdrawals in any particular year. It will also waive the minimum withdrawal in 2008 for RRIF owners who turned 70 in 2007.

If you have a locked-in account such as a LIF or LRIF, see the article "LIF and LRIF minimum and maximum withdrawals" for help in determining your maximum withdrawal amount. See also our articles on conversion of RRSPs to RRIFs, and RRIF minimum annual withdrawals, on the RRSP/RRIF page. Check out our other calculators. Revised: January 28, 2012

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