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