What is the RRIF minimum withdrawal for 2025?

RRIF minimum withdrawal rates are set by the federal government and increase with age. At age 72 the minimum is 5.40% of the January 1 balance, rising to 20% at age 95 and older. For ages 71 and younger, the formula is 1/(90 minus age). The minimum amount must be withdrawn each year and is fully taxable as income.

When do I have to convert my RRSP to a RRIF?

You must convert your RRSP to a RRIF by December 31 of the year you turn 71. You can convert earlier if you wish. Once converted, you must withdraw at least the minimum amount each year. There is no maximum withdrawal limit.

Can I use my spouse's age for RRIF minimum withdrawals?

Yes. If your spouse or common-law partner is younger, you can elect to use their age to calculate your minimum withdrawal. This results in a lower minimum percentage, keeping more money tax-deferred inside the RRIF. This election must be made when the RRIF is established and is irrevocable.

Do RRIF withdrawals affect my OAS?

Yes. RRIF withdrawals are included in your net income and can trigger the OAS clawback. For 2025, if your net income exceeds $93,454, you begin to lose OAS benefits at a rate of 15 cents per dollar above the threshold. Strategic withdrawal planning can help minimize the OAS clawback impact.

RRIF Calculator Canada 2025

Q: Is there withholding tax on RRIF withdrawals?

There is no withholding tax on the minimum withdrawal amount. For amounts above the minimum, withholding tax applies: 10% on the first $5,000, 20% on $5,001 to $15,000, and 30% on amounts above $15,000. In Quebec, rates differ slightly. Withholding tax is not a final tax — the actual tax is determined when you file your return.

Calculate your minimum withdrawals, compare using your spouse's age, and check if your RRIF will last through retirement.

RRIF minimum withdrawals are mandatory each year. You must convert your RRSP to a RRIF by December 31 of the year you turn 71. Minimum withdrawal rates increase with age.

RRIF balance

Current market value of your RRIF

Current age

Your age at the start of the year (71\u201395+)

Province

Used for provincial tax estimate

Other annual income

Pension, OAS, CPP, employment — for marginal rate

Expected annual return

Assumed return on RRIF investments

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Estimates use federal + provincial rates. Actual taxes depend on total income and credits. Not financial advice.

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How to Use This Calculator

Tab "Minimum Withdrawal Schedule"

Enter your RRIF balance (current market value), current age, and province. Optionally add your other income (pension, OAS, CPP, employment) to get an accurate marginal tax rate. The calculator shows your minimum withdrawal amount, estimated tax, and a full year-by-year schedule projecting your RRIF balance over time.

Tab "Use Spouse's Age"

Enter your RRIF balance, your age, and your spouse's age. The calculator compares the minimum withdrawal using your age versus your spouse's younger age, showing the annual savings, tax savings, and how much more remains in your RRIF over 10 years. This election is irrevocable and must be made when the RRIF is set up.

Tab "Longevity Check"

Enter your RRIF balance, age, expected return rate, and desired withdrawal rate. The calculator projects whether your RRIF will last to age 90, 95, or 100, and shows the exact depletion age if applicable. A visual trajectory bar shows the balance declining over time.

The Formulas

Minimum withdrawal rate (age 71 or younger):
Rate = 1 / (90 - age) as a percentage

Minimum withdrawal rate (ages 72-94):
Prescribed percentages from Income Tax Regulations, Schedule VII:
72: 5.40% | 73: 5.53% | 74: 5.67% | 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% | 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%

Minimum withdrawal amount:
Amount = RRIF balance on January 1 x Minimum rate for your age

Withholding tax on excess (above minimum):
First $5,000: 10% | $5,001-$15,000: 20% | Above $15,000: 30%

OAS clawback:
If net income > $93,454: OAS reduced by 15% of income above threshold

The minimum withdrawal is based on your RRIF balance at January 1 of the year. If you use your spouse's age, the lower rate applies for the life of the RRIF. No withholding tax is deducted on the minimum amount, but it is still fully taxable when you file your return.

Example

David — Retired engineer in Ontario, age 72, $500,000 RRIF

David converted his RRSP to a RRIF last year. He has $30,000 in other income (CPP + OAS). His RRIF balance on January 1 is $500,000.

RRIF balance (Jan 1)$500,000

Minimum rate at age 725.40%

Minimum withdrawal$27,000

Total income ($30K + $27K)$57,000

Estimated tax on withdrawal (ON)~$5,540

Net after tax~$21,460

If David's spouse is 65, using her age would reduce the minimum rate to 4.00% (1/(90-65)), lowering the forced withdrawal to $20,000 — saving $7,000 per year in withdrawn capital that continues to grow tax-deferred.

2025 RRIF Key Numbers

Item	Amount
RRSP to RRIF conversion deadline	Dec 31 of year turning 71
Minimum withdrawal at age 72	5.40%
Minimum withdrawal at age 80	6.82%
Minimum withdrawal at age 90	11.92%
Minimum withdrawal at age 95+	20.00%
Withholding on minimum	None
Withholding on excess: first $5K	10%
Withholding on excess: $5K-$15K	20%
Withholding on excess: above $15K	30%
OAS clawback threshold	$93,454
Spouse's age election	Irrevocable, set at RRIF creation

Frequently Asked Questions

What happens if I don't withdraw the minimum from my RRIF?▼

You are required to withdraw at least the minimum amount each year. If you fail to do so, the CRA considers the shortfall as not having been properly withdrawn, which means the RRIF may lose its registered status. Your financial institution will typically ensure the minimum is paid out by December 31. In the first year you set up a RRIF, no minimum is required if it was established after the beginning of the year.

Can I withdraw more than the minimum from my RRIF?▼

Yes, there is no maximum withdrawal limit. However, amounts above the minimum are subject to withholding tax at source: 10% on the first $5,000, 20% on $5,001 to $15,000, and 30% on amounts above $15,000. The withholding tax is not a final tax — the actual tax owed is determined when you file your annual return. Larger withdrawals increase your taxable income, which can affect OAS benefits and other income-tested credits.

Should I use my spouse's age for RRIF withdrawals?▼

If your spouse is younger, using their age results in a lower minimum withdrawal rate, keeping more money growing tax-deferred inside the RRIF. This is generally advantageous if you don't need the income and want to minimize taxes. However, the election is irrevocable — once you set up the RRIF with your spouse's age, you cannot change it. Consider your income needs, tax situation, and estate plans before deciding.

What happens to my RRIF when I die?▼

If your spouse is the sole beneficiary or successor annuitant, the RRIF can be transferred to them tax-free and continues as their RRIF. If the beneficiary is a financially dependent child or grandchild, the amount can be transferred to their RRSP or used to purchase an annuity. Otherwise, the full fair market value of the RRIF is included in your final tax return as income. Proper beneficiary designations can significantly reduce the tax impact on your estate.

How can I reduce taxes on RRIF withdrawals?▼

Strategies include: using your younger spouse's age for the minimum calculation, withdrawing only the minimum to keep taxable income below the OAS clawback threshold ($93,454 in 2025), splitting pension income with your spouse (RRIF withdrawals qualify for pension splitting after age 65), and considering larger withdrawals in low-income years. Some retirees deliberately draw down their RRIF faster in early retirement when their tax rate is lower, before CPP and OAS begin.

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