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Prescribed Factors for Minimum Annual Withdrawal From a RRIF

Income 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.

Rounding of RRIF Factors

Use of Age of Spouse For RRIF Factors

RRIF Factors Up To Age 70

RRIF Factors For Age 71+

RRSP/RRIF Withdrawal Calculator

Rounding of RRIF Factors

Note that, although we now show the RRIF factors for the formula 1/(90-age) 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/(90-age) x RRIF market value, and the result would be rounded to 2 decimals. The difference between using 1/(90-age) 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 Factors

In 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/(90-age). 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 70

The 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/(90-age). "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/(90-age). There is no minimum age for converting an RRSP to a RRIF, but there is usually no benefit to doing so before age 65.

Table of RRIF Factors
Age prior Dec 31	RRIF Factor
55	0.028571
56	0.029412
57	0.030303
58	0.031250
59	0.032258
60	0.033333
61	0.034483
62	0.035714
63	0.037037
64	0.038462
65	0.040000
66	0.041667
67	0.043478
68	0.045455
69	0.047619
70	0.050000

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.

Table of RRIF Factors
Age prior Dec 31	RRIF Factor
71	0.0528
72	0.0540
73	0.0553
74	0.0567
75	0.0582
76	0.0598
77	0.0617
78	0.0636
79	0.0658
80	0.0682
81	0.0708
82	0.0738
83	0.0771
84	0.0808
85	0.0851
86	0.0899
87	0.0955
88	0.1021
89	0.1099
90	0.1192
91	0.1306
92	0.1449
93	0.1634
94	0.1879
95+	0.2000

Canada Revenue Agency (CRA) Resources

CRA Chart - Prescribed factors

RRSP/RRIF Withdrawal Calculator

The 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