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Calculators > RRIF calculator

RRIF Withdrawal Calculator

Click the above link to open the calculator in a new window.

Note:  best viewed in Chrome or Firefox.  If using IE, use compatibility view for the calculators to work properly.

This calculator uses only the old RRIF factors, not the factors brought in by the Federal 2015 Budget, which received Royal Assent on June 23, 2015 so are now in effect.  Use the RRSP/RRIF Withdrawal Calculator for the new factors.  The RRIF Withdrawal Calculator is no longer needed, so will eventually be removed.  However, we felt that some people might still use it for a while, since the 2015 withdrawals were originally calculated using the old factors.

The RRIF calculator will calculate:

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

This calculator uses only the old RRIF factors, not the factors proposed by the Federal 2015 Budget.  Use the RRSP/RRIF Withdrawal Calculator if you want to use the new factors.

The RRIF Calculator does not consider taxes in the calculation.  The amount of any withdrawals will be included in your taxable income when you file your tax return for the year.  There may be withholding tax deducted from your RRIF withdrawals, depending on how much you withdraw.

If you are 65 or older, your RRIF withdrawals will be eligible for the pension amount tax credit.

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, which is not calculated by the RRSP/RRIF calculator.

See also our articles on conversion of RRSPs to RRIFs, and RRIF minimum annual withdrawals, on the RRSP/RRIF page.

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.

Check out our other calculators.

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.

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


Revised: August 09, 2015


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