ExampleRRSP balance $500,000 · Conversion at 71 · 5% return · 25-year projection

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📉RRIF Minimum Withdrawal CalculatorCRA Prescribed Rates
Year 1: $26,400Total withdrawn: $801,978Lasts: age 95+
RRSP → RRIF Withdrawal Schedule
🏦RRIF Details
RRSP / RRIF Balance?
$
Conversion Age?
yrs
Expected Return?
%
Projection Years?
yrs
Year 1 min. rate5.28%
Balance at end$143,211
Total withdrawn$801,978
✓ Funds last through age 95
Year 1 Withdrawal
$26,400
5.28% of balance
Total Withdrawn
$801,978
over 25 years
Balance Remaining
$143,211
at period end
Starting Balance
$500,000
converted at 71
📈Balance & Withdrawals Over Time
📅Year-by-Year Schedule▼
📋RRIF Rules
▸Mandatory conversion: RRSP must be converted to RRIF by Dec 31 of the year you turn 71.
▸Minimum withdrawal: set by CRA each year based on your age. Starts at 5.28% at age 71.
▸Fully taxable: all withdrawals count as regular income. May trigger OAS clawback.
▸Spouse's age: you can use your younger spouse's age to calculate minimums - a lower rate means slower depletion.
▸Early conversion: you can convert before 71 - useful for RRSP meltdown strategies before CPP/OAS starts.
CRA – RRIF overview ↗
🔗⚠ RRIF & OAS Clawback▲
▸Every dollar withdrawn from your RRIF counts as taxable income - including the mandatory minimum.
▸If total income exceeds $93,454 (2025 threshold), your OAS is clawed back at 15¢ per $1 over the threshold.
▸Strategy: consider drawing down RRSP/RRIF before CPP and OAS begin (ages 60–65) to reduce future mandatory minimums.
Calculate your OAS clawback →
📊CRA Minimum Rates by Age▼
🔗Retirement Calculators▼

What's Next?

OAS Clawback CalculatorSee exactly how much OAS you'll lose to the recovery tax based on your RRIF withdrawalsCPP & OAS TimingChoose the right start age for CPP and OAS to maximize lifetime incomeAccount OptimizerRRSP vs TFSA drawdown strategy - TFSA withdrawals don't trigger clawbackSalary & TaxModel how RRIF income is taxed alongside CPP, OAS, and other sources

CRA prescribed RRIF minimum rates. Must convert RRSP to RRIF by Dec 31 of the year you turn 71. All withdrawals are taxable income. Withdrawals exceeding $93,454 (2025 income) may trigger OAS clawback at 15%. Consult a financial advisor. Not financial advice.

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About this calculator

Updated April 2026

You must close your RRSP and convert it to a RRIF (or annuity) by December 31 of the year you turn 71, with mandatory minimum withdrawals starting the following year. This calculator projects your RRIF balance over a 30-year retirement, shows required minimums by age, and models longer-life scenarios so you don't run out of money in your 90s.

What you can do with it

  • Project your RRIF balance from age 72 through 95 at your chosen return rate.
  • Compare using your age vs your younger spouse's age to lower minimums.
  • Model a 'melt-down' strategy - drawing RRSP before 71 at a lower bracket.
  • See the tax cost of minimum RRIF withdrawals combined with CPP and OAS.

How the math works

Minimum withdrawal percentages are set by CRA and begin at 5.28% at age 71 (if converted at 71) and rise each year, reaching 20% at age 95+. The calculator compounds the remaining balance at your chosen return rate, subtracts the minimum each year, and taxes withdrawals at your marginal rate (with optional OAS clawback overlay).

Canadian context - 2026

Converting to RRIF at 65 instead of 71 can reduce your minimum withdrawal rate (4.00% vs 5.28%) and let you use the $2,000 pension income credit. Using your spouse's age if they're younger further lowers your minimum - a 72-year-old with a 67-year-old spouse has a minimum of 4.35%, not 5.40%.

Frequently asked questions

When must I convert my RRSP to a RRIF?

You must close your RRSP and convert to a RRIF (or purchase an annuity) by December 31 of the year you turn 71. You can convert earlier voluntarily. RRIF withdrawals are fully taxable as income in the year received.

What is the RRIF minimum withdrawal percentage?

The minimum withdrawal percentage is based on your age (or your younger spouse's age if you elect that). It starts at about 5.28% at age 71 and rises each year, reaching 20% at age 95+. There is no maximum. Minimums are set by CRA regulation and were temporarily reduced in 2020.

How can I minimize tax on RRIF withdrawals?

Strategies include: (1) using your younger spouse's age to lower minimums; (2) making RRIF withdrawals before 71 (melt-down strategy) to reduce future mandatory amounts; (3) splitting up to 50% of eligible pension income with a spouse after age 65; (4) coordinating RRIF income with OAS clawback and CPP timing.

Go deeper - related guides

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