Calculators are made available to you as tools for independent use and are not intended to provide advice. We cannot and do not guarantee their applicability or accuracy. All examples are hypothetical and are for illustrative purposes only. Please visit your branch to seek personalized advice from qualified professionals for all personal finance issues.
RRIF Calculator
See your minimum RRIF withdrawals and how long your savings could last.
Minimum withdrawals
What must you withdraw each year?
The CRA sets a minimum withdrawal for every year of a RRIF — a percentage of your balance that rises with age. See your schedule and how the balance holds up.
Fixed payments
How long will your RRIF last?
Choose the annual amount you'd like to withdraw and see how many years your savings support it. Years where the CRA minimum is higher pay the minimum instead.
Set timeframe
What can you withdraw each year?
Pick how long your RRIF should last and see the level annual payment that empties it right on schedule.
Your RRIF
Age at first withdrawal
Your age in the first year you draw from the RRIF. RRSPs must convert to a RRIF by the end of the year you turn 71.
RRIF balance
The amount in your RRIF at the first withdrawal year — or the amount you'll convert from your RRSP.
Rate of return
Expected annual growth of the investments inside your RRIF.
Base minimums on
CRA lets you elect your YOUNGER spouse's age for the minimum-withdrawal factors — lower mandatory withdrawals keep more money growing tax-deferred.
Spouse’s age
Only a YOUNGER spouse's age lowers the minimums; an older spouse's age is ignored.
Annual payment
What you'd like to withdraw each year. Years where the CRA minimum is higher pay the minimum instead.
Years to draw on funds
How long the RRIF should last. The payment is levelled so the balance reaches $0 in the final year, rising only where CRA minimums force it. Capped so the schedule ends by age 100 — the calculator's wind-up age; CRA itself sets no end age, minimums just continue for life.
First-year minimum withdrawal
per year
That's
of your balance — using your spouse's age of
.
The percentage rises every year.
Your RRIF will last
years
Final payment at age .
The CRA minimum exceeds your chosen payment, so withdrawals follow the minimum schedule —
final payment at age .
Your annual payment
per year
Level payments that empty the RRIF at age
,
rising only in years where the CRA minimum is higher.
CRA minimums outpace this level payment, emptying the RRIF in
— at age —
instead of your requested .
Total withdrawals
Total return earned
Final payment at age
First-year minimum
The CRA prescribed minimum for the first year, regardless of mode — you can always withdraw more, never less.
Over time
RRIF balance
Annual payment
RRIF report
Year by year| Age | Payment | Return | Minimum The CRA prescribed minimum for that year — the percentage of the opening balance you must withdraw. Payments can exceed it, never fall below it. | Balance |
|---|---|---|---|---|