RRIF annual withdrawal schedule
A registered retirement income fund (RRIF) is an account registered with the federal government. You can convert your RRSP to a RRIF any time, as long as you do so by December 31 of the year you turn 71.
RRIF withdrawal rules
In the calendar year after you open a RRIF, you have to start withdrawing money from it. The minimum amount is based on your age and a percentage of the value of your RRIF on January 1.
On March 18, 2020, the federal government announced it would reduce mandatory RRIF withdrawal rates by 25% for 2020 as a response to the COVID-19 pandemic.
RRIF minimum withdrawal chart
| Age | 2020 RRIF Factors |
|---|---|
| 55 | 2.15% |
| 56 | 2.21% |
| 57 | 2.27% |
| 58 | 2.35% |
| 59 | 2.42% |
| 60 | 2.50% |
| 61 | 2.59% |
| 62 | 2.68% |
| 63 | 2.78% |
| 64 | 2.89% |
| Age | 2020 RRIF Factors |
|---|---|
| 65 | 3.00% |
| 66 | 3.13% |
| 67 | 3.26% |
| 68 | 3.41% |
| 69 | 3.57% |
| 70 | 3.75% |
| 71 | 3.96% |
| 72 | 4.05% |
| 73 | 4.15% |
| 74 | 4.25% |
| Age | 2020 RRIF Factors |
|---|---|
| 75 | 4.37% |
| 76 | 4.49% |
| 77 | 4.63% |
| 78 | 4.77% |
| 79 | 4.94% |
| 80 | 5.12% |
| 81 | 5.31% |
| 82 | 5.54% |
| 83 | 5.78% |
| 84 | 6.06% |
| Age | 2020 RRIF Factors |
|---|---|
| 85 | 6.38% |
| 86 | 6.74% |
| 87 | 7.16% |
| 88 | 7.66% |
| 89 | 8.24% |
| 90 | 8.94% |
| 91 | 9.80% |
| 92 | 10.87% |
| 93 | 12.26% |
| 94 | 14.09% |
| 95+ | 15.00% |
| Age | RRIF Factors |
|---|---|
| 55 | 2.86% |
| 56 | 2.94% |
| 57 | 3.03% |
| 58 | 3.13% |
| 59 | 3.23% |
| 60 | 3.33% |
| 61 | 3.45% |
| 62 | 3.57% |
| 63 | 3.70% |
| 64 | 3.85% |
| Age | RRIF Factors |
|---|---|
| 65 | 4.00% |
| 66 | 4.17% |
| 67 | 4.35% |
| 68 | 4.55% |
| 69 | 4.76% |
| 70 | 5.00% |
| 71 | 5.28% |
| 72 | 5.40% |
| 73 | 5.53% |
| 74 | 5.67% |
| Age | RRIF Factors |
|---|---|
| 75 | 5.82% |
| 76 | 5.98% |
| 77 | 6.17% |
| 78 | 6.36% |
| 79 | 6.58% |
| 80 | 6.82% |
| 81 | 7.08% |
| 82 | 7.38% |
| 83 | 7.71% |
| 84 | 8.08% |
| Age | RRIF Factors |
|---|---|
| 85 | 8.51% |
| 86 | 8.99% |
| 87 | 9.55% |
| 88 | 10.21% |
| 89 | 10.99% |
| 90 | 11.92% |
| 91 | 13.06% |
| 92 | 14.49% |
| 93 | 16.34% |
| 94 | 18.79% |
| 95+ | 20.00% |
Do you have questions about your RRIF?
For more information please contact your MD Advisor.*
* MD Advisor refers to an MD Management Limited Financial Consultant or Investment Advisor (in Quebec).
MD Financial Management includes MD Financial Management Inc., MD Management Limited, MD Private Trust Company, MD Life Insurance Company and MD Insurance Agency Limited.