RRIF minimum in 2026: how it works, with a worked example

Questions people ask

What is the RRIF minimum withdrawal at 71?

5.28% of the balance at the start of the year, for RRIFs set up after 1992. At 72 it is 5.40%, at 75 5.82%, at 80 6.82%, at 85 8.51%, at 90 11.92%, and 20% every year from 95. The minimum applies from the year after the RRIF is opened.

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

By December 31 of the year you turn 71. You can convert earlier; below 71 the minimum factor is 1 ÷ (90 − age), so a 65-year-old's minimum is 4%. There is no minimum in the year of conversion.

Can I use my spouse's age?

Yes, if your spouse or common-law partner is younger. The election must be made when the RRIF is set up, before the first payment, and it then applies for the life of that RRIF even if your spouse dies or you separate. It lowers every year's minimum.

Is tax withheld on RRIF withdrawals?

Not on the minimum. On amounts above it, 10% up to $5,000, 20% from $5,001 to $15,000 and 30% above that outside Quebec; in Quebec the federal part is 5%, 10% and 15% plus 14% provincial. Withholding is only a prepayment; the whole withdrawal is taxable on your return.

Can I withdraw more than the minimum?

Any amount, any time. The minimum is a floor, not a ceiling. Withdrawing more than you need in a high-income year is usually a mistake; withdrawing more in a low-income year before minimums ramp up can save tax later.

Do RRIF withdrawals qualify for the pension income credit?

From age 65, the first $2,000 of RRIF income a year qualifies for the federal pension income amount (worth about $300) and matching provincial credits, and RRIF income can be split up to 50% with a spouse on the return.

What happens to the RRIF when I die?

It can roll tax-free to a spouse or financially dependent child; otherwise the full value is included in your final return's income and taxed in one year.

How much tax will I pay on my RRIF withdrawal?

The whole withdrawal is taxable income, added to your CPP, OAS and pension. Nothing is withheld on the minimum, so the tax is due when you file. Enter your other income and the calculator shows the tax the withdrawal adds and what you will owe in April.

Should I use my spouse's age for the minimum?

If your spouse is younger, electing their age lowers the minimum every year, which keeps more sheltered and can reduce OAS clawback. The election is made when the RRIF is opened and cannot be changed later, and it does not prevent you from taking more than the minimum.

Will my RRIF withdrawal cause an OAS clawback?

OAS is reduced by 15 cents for every dollar of net income above the threshold ($93,454 for 2026 income). The calculator adds your withdrawal to your other income and shows how much room you have under the line, or how far over you are.

Can I take out more than the minimum?

Yes, any amount. Amounts above the minimum have tax withheld at 10%, 20% or 30% depending on size (different in Quebec) and are still reconciled on your return. Taking more in low-income years is a common strategy to shrink the RRIF before larger minimums arrive.