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How much can my client take from their RRIF?

To determine the required minimum withdrawal, CRA will apply a percentage factor corresponding to the RRIF holder’s age at the beginning of the year to the value of the RRIF assets at the beginning of the year. When the RRIF is established, the holder also has the option to base the minimum withdrawals on the age of their spouse or common-law partner.

On a RRIF, there is no maximum. However, there is an annual minimum determined by the CRA calculation, following:

 

Minimum withdrawal factors for Registered Retirement Income Funds (RRIFs)


Age

(at start of year)

Previous factor

%

New factor

%

71

7.38

5.28

72

7.48

5.40

73

7.59

5.53

74

7.71

5.67

75

7.85

5.82

76

7.99

5.98

77

8.15

6.17

78

8.33

6.36

79

8.53

6.58

80

8.75

6.82

81

8.99

7.08

82

9.27

7.38

83

9.58

7.71

84

9.93

8.08

85

10.33

8.51

86

10.79

8.99

87

11.33

9.55

88

11.96

10.21

89

12.71

10.99

90

13.62

11.92

91

14.73

13.06

92

16.12

14.49

93

17.92

16.34

94

20

18.79

95 and over

20

20

 

Source:  CRA 2015-07-15