
Home > RRSPs RRIFs and TFSAs > RRIF Minimum Annual Withdrawals > RRIF minimum withdrawal factorsPrescribed Factors for Minimum Annual Withdrawal From a RRIFIncome Tax Act s. 146.3(1), Regulations s. 7308(3), (4)See the RRIF Minimum Annual Withdrawals article for all the rules around minimum withdrawals. The tables below show the prescribed factors for minimum annual withdrawals. Use of Age of Spouse For RRIF Factors RRSP/RRIF Withdrawal Calculator Rounding of RRIF FactorsNote that, although we now show the RRIF factors for the formula 1/(90age) rounded to 6 decimals, no rounding is specified in the Income Tax Act or Regulations. Thus, to calculate the annual minimum withdrawal, the formula should be 1/(90age) x RRIF market value, and the result would be rounded to 2 decimals. The difference between using 1/(90age) and the RRIF factor rounded to 6 decimals is less than 10 cents per year when the RRIF market value is $200,000. Use of Age of Spouse For RRIF FactorsIn all these tables, if the annuitant has elected to use the spouse's age to calculate the RRIF factor, then the spouse's age should be used as the age in these tables, instead of the age of the annuitant. If the age of the spouse is lower than 55, use the formula 1/(90age). If the age of the spouse is used, it does not change the timing of when withdrawals must be made from a RRIF  see RRIF Minimum Annual Withdrawals. RRIF Factors Up To Age 70The first table is for all RRIFs, LIFs, and LRIFs, up to age 70. These factors did not change based on the Federal 2015 Budget, because they are calculated as 1/(90age). "Age" refers to the age of the annuitant (or spouse if so elected) at the beginning of the calendar year  that is, the annuitant's age on December 31st of the prior calendar year. The factor is multiplied by the market value of the RRIF holdings at the beginning of the year. This table shows factors starting at age 55. Factors at an age before age 55 would have to be calculated using 1/(90age). There is no minimum age for converting an RRSP to a RRIF, but there is usually no benefit to doing so before age 65.
RRIF Factors For Age 71+The next table shows the factors for age 71+ for RRIFs, LIFs and LRIFs. Prior to changes from the Federal 2015 Budget, plans that were set up prior to 1993 had lower RRIF factors than plans that were set up after 1992. Starting in 2015, all plans use the new factors. "Age" refers to the age of the annuitant at the beginning of the calendar year  that is, the annuitant's age (or spouse's age) on December 31st of the prior calendar year. The factor is multiplied by the market value of the RRIF holdings at the beginning of the year.
Canada Revenue Agency (CRA) ResourcesCRA Chart  Prescribed factors RRSP/RRIF Withdrawal CalculatorThe RRSP/RRIF Withdrawal Calculator uses the new factors. Tax Tip: Use our RRSP/RRIF calculator to help you project your RRIF withdrawals for the next 40 years.
Revised: September 20, 2024

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