RRIF Minimum Withdrawal Calculator 2026

How the RRIF Minimum Withdrawal Works in Canada

A Registered Retirement Income Fund (RRIF) is the account that takes over from your RRSP once you enter the income phase of retirement. By December 31 of the year you turn 71, your Registered Retirement Savings Plan (RRSP) must be wound up and either fully withdrawn, used to buy an annuity, or — most commonly — converted into a RRIF. From that point forward, the Canada Revenue Agency (CRA) requires you to withdraw a minimum percentage of the prior-year-end balance every calendar year. The minimum percentage rises with age and is set out in the Income Tax Regulations. There is no maximum — you can always take more than the minimum, but you can never take less.

The RRIF minimum percentage formula was reset in 2015 and applies the same prescribed table to all post-2015 RRIFs. The minimum is calculated as: RRIF Balance on January 1 × Prescribed Percentage for your age. For ages below 71, the prescribed factor is 1 ÷ (90 − age). At age 71 the factor jumps to 5.28%, climbs gradually each year, and caps at 20.00% from age 95 onward. If you have a younger spouse or common-law partner, you may make a one-time, irrevocable election (typically when you set up the RRIF) to base your minimum on the younger spouse's age, which lowers your mandatory withdrawal and lets more money keep growing tax-deferred.

2026 RRIF Minimum Withdrawal Schedule (CRA)

The table below shows the official CRA RRIF minimum withdrawal percentages for ages 71 to 95+. These rates have not changed since the 2015 reform. The percentage applied is the one for your age on January 1 of the year — or, if you elected the spouse-age option, your younger spouse's age on that same date.

RRIF Tax Estimate, Withholding, and the T4RIF Slip

RRIF withdrawals are fully taxable as ordinary income in the year received and are reported on a T4RIF slip. The minimum amount itself is exempt from withholding tax — the financial institution sends you the gross figure and you settle up at tax time. Anything taken above the minimum is withheld at federal rates of 10% on the first $5,000, 20% on amounts between $5,001 and $15,000, and 30% on amounts above $15,000 (in Quebec the federal rates are halved to 5% / 10% / 15% and Quebec provincial withholding is added separately). The withholding is only a prepayment; your actual tax bill depends on your full marginal rate after every income source is added together.

This calculator estimates federal tax using the 2026 federal brackets — 15% up to $55,867, 20.5% to $111,733, 26% to $173,205, 29% to $246,752, and 33% above — and then layers a provincial estimate on top using 2026 provincial brackets for Ontario, BC, Quebec, and Alberta, with a national-average ~12% fallback for smaller provinces and the territories. The federal age amount, pension income credit, and basic personal amount are not modelled here, so most retirees will pay slightly less in practice. Treat the result as a planning estimate, not a tax filing.

Strategies to Reduce RRIF Tax in Retirement

Because RRIF income is fully taxable and can push retirees into OAS clawback territory ($93,454+ in 2026), planning the withdrawal sequence matters. Pension income splitting allows you to allocate up to 50% of your RRIF income to a lower-income spouse on the tax return, often saving thousands of dollars. Drawing down a TFSA in years where your RRIF income is high keeps net world income lower and protects OAS. Choosing the spouse-age option with a younger spouse keeps the minimum smaller and gives more years of tax-deferred growth. Some retirees also do strategic "RRIF meltdowns" before age 72 — voluntarily converting some RRSP into a RRIF early to use up low tax brackets while CPP and OAS are deferred. The right blend depends on your full retirement income picture.