RRIF Minimum Withdrawal कैलकुलेटर — RRIF Balance at January 1 (C$) ₹5,00,000

Name: RRIF Minimum Withdrawal कैलकुलेटर — RRIF Balance at January 1 (C$) ₹5,00,000
Creator: CalcHub

With rrif balance at january 1 (c$) of ₹5,00,000, the minimum annual withdrawal is CAD27,000.

Last updated: 7 April 2026·Source: CRA — RRIF Minimum Payments

RRIF Balance at January 1 (C$) (CAD)

Your Age on January 1

Use Spouse's Age to Minimize Withdrawals?

Spouse Age (if using spouse age)

CRA Prescribed Factor (%)

5.400%

Minimum Annual Withdrawal

CAD27,000

Monthly Equivalent

CAD2,250

Minimum RRIF withdrawal factors are prescribed by the CRA and based on January 1 balance and age. You may withdraw more than the minimum at any time, subject to withholding tax. RRIF withdrawals are fully taxable as income.

What is the RRIF Minimum Withdrawal Calculator?

When you convert your RRSP to a RRIF (mandatory by age 71), the government requires minimum annual withdrawals based on prescribed CRA factors applied to your January 1 balance. Withdrawals are fully taxable as income. Using your younger spouse's age can reduce the minimum withdrawal percentage, allowing more tax-deferred growth.

Formula

Minimum Withdrawal = RRIF Balance × Prescribed Factor%. The factor is set by CRA for each age — e.g., 5.40% at age 72.

B_Jan1: = RRIF balance on January 1
f_age: = CRA prescribed withdrawal factor for the holder's age

How to use the RRIF Minimum Withdrawal Calculator

1
Step 1
Enter your RRIF balance as of January 1.
2
Step 2
Enter your age on January 1.
3
Step 3
Optionally select to use your spouse's lower age.
4
Step 4
View your minimum withdrawal amount and monthly equivalent.

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Reviewed on 5 April 2026

Frequently asked questions

When must I convert RRSP to RRIF?

You must convert your RRSP to a RRIF (or annuity) by December 31 of the year you turn 71. Minimum withdrawals begin the following year.

Can I withdraw more than the RRIF minimum?

Yes, you can withdraw any amount above the minimum. Amounts above the minimum are subject to withholding tax (10–30%). All withdrawals are added to your taxable income.