The RRIF
Registered Retirement Income Fund
What your becomes in retirement: the money stays invested and tax-sheltered, but you must take out a minimum every year.
The 2026 numbers
- 71
- Age by which the RRSP must be converted
- 5.4%
- Minimum withdrawal at 72, as % of the balance
- 20%
- Minimum withdrawal at 95 and older
Numbers checked against the official sources on September 29, 2026.
What it’s for
- Turning RRSP savings into a steady retirement income.
- Keeping your investments tax-sheltered while you withdraw.
Who it’s for
- Anyone with an RRSP: it must be converted by the end of the year you turn 71. You can convert earlier.
How it works
The minimum is a percentage of the January 1 balance: 1 ÷ (90 − your age) before 71 (4% at 65), then from a table: 5.28% at 71, 6.82% at 80, 20% from 95.
Every withdrawal is added to your taxable income. You can take out more than the minimum, never less.
At 65 and older, RRIF withdrawals qualify for the pension income credit (on $2,000 federally) and can be split with a spouse.
An example
A $100,000 RRIF on January 1
The minimum to take out that year, by age.
- At 65 (4%)
- $4,000
- At 72 (5.4%)
- $5,400
The percentage rises with age: a RRIF is designed to wind down gradually.
Fictional example, round numbers.
Common mistakes
- Taking it all out at once: the whole amount is taxed in one year, often at a higher rate.
- Forgetting the effect on and : withdrawals count as income.
- Waiting until the last year with no plan: withdrawing a bit earlier, before OAS, could lower your lifetime tax.
In Huard & Co
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General information to help you understand, not personalized advice. Rules change: every number links to its official source.