What is the minimum RRIF withdrawal at age 72?

At age 72, the minimum RRIF withdrawal is 5.40% of your RRIF balance as of January 1. For a $500,000 RRIF, the minimum withdrawal would be $27,000 for the year.

Can I base RRIF minimum on my younger spouse age?

Yes, you can elect to use your younger spouse or common-law partner age to calculate minimums when you set up your RRIF. This results in lower mandatory withdrawals.

What happens if I do not withdraw the RRIF minimum?

If you fail to withdraw the minimum, the shortfall is added to your income and subject to a penalty tax of 1% per month (12% per year) on the amount not withdrawn.

Can I withdraw more than the RRIF minimum?

Yes. You can withdraw any amount above the minimum at any time. However, amounts above the minimum are subject to withholding tax (10% up to $5,000, 20% on $5,001–$15,000, 30% over $15,000 in most provinces). The minimum withdrawal has no withholding tax.

How do I reduce taxes on RRIF withdrawals?

Key strategies: (1) Use the younger spouse election to lower minimums, (2) Draw down your RRSP early (in your 60s at lower tax brackets) before converting to RRIF, (3) Split RRIF income with your spouse after age 65, (4) Keep total income below the OAS clawback threshold ($90,997 in 2026), (5) Contribute excess to a TFSA for tax-free growth.

RRIF Minimum Withdrawal 2026: Rates by Age, Calculator & Tax Strategies

RRIF Minimum Withdrawal Rates

2026 Prescribed Minimums

Age at Year Start	Minimum %	Example ($500K)
65	4.00%	$20,000
66	4.17%	$20,850
67	4.35%	$21,750
68	4.55%	$22,750
69	4.76%	$23,800
70	5.00%	$25,000
71	5.28%	$26,400
72	5.40%	$27,000
73	5.53%	$27,650
74	5.67%	$28,350
75	5.82%	$29,100

Ages 76-95+

Age	Minimum %	Age	Minimum %
76	5.98%	86	8.99%
77	6.17%	87	9.55%
78	6.36%	88	10.21%
79	6.58%	89	10.99%
80	6.82%	90	11.92%
81	7.08%	91	13.06%
82	7.38%	92	14.49%
83	7.71%	93	16.34%
84	8.08%	94	18.79%
85	8.51%	95+	20.00%

How to Calculate Your Minimum

If you want to run the full calculation instead of using the table, use the RRIF calculator.

Basic Formula

Step	Calculation
1	Determine age at Jan 1
2	Find percentage for age
3	Multiply by Jan 1 balance
4	= Minimum for year

Example Calculation

Factor	Amount
Jan 1 RRIF balance	$400,000
Age at Jan 1	75
Minimum percentage	5.82%
Required withdrawal	$23,280

First Year Rules

Year You Open RRIF

Rule	Details
When opened	Affects minimum
Mid-year opening	Pro-rated minimum
Year of conversion	No minimum if late in year

Example: RRIF Opened July 1

Factor	Amount
Balance at opening	$300,000
Age	72 (5.40%)
Full-year minimum	$16,200
Months remaining	6/12
Pro-rated minimum	$8,100

Younger Spouse Election

How It Works

Rule	Benefit
Use spouse’s age	Lower percentage
One-time election	At RRIF creation
Irrevocable	Can’t change later
Spouse must exist	At time of election

Example: Younger Spouse

Scenario	Your Age	Spouse Age	Rate
Without election	75	65	5.82%
With election	75	65	4.00%
On $500,000
Without			$29,100
With election			$20,000
Savings			$9,100/yr

When to Elect Younger Spouse Age

Consider If	Reason
Spouse 5+ years younger	Significant tax savings
Don’t need money	Reduce forced withdrawals
Estate planning	Keep more growing

This decision usually belongs in your broader RRSP to RRIF conversion plan.

When NOT to Elect

Consider If	Reason
Need the income	Want higher withdrawals
Health concerns	May want more now
Similar ages	Minimal benefit

RRIF Withdrawal Strategies

Minimize Tax Strategy

Approach	Details
Withdraw only minimum	Keep growing tax-deferred
Use younger spouse age	Lower minimums
Strategic timing	Withdraw in low-income years

Income Smoothing Strategy

Year	Income Before RRIF	RRIF Withdrawal	Total
Low income year	$30,000	$30,000 extra	$60,000
High income year	$80,000	Minimum only	$90,000

Deplete RRIF Strategy

Approach	When to Consider
Withdraw more than minimum	Want to reduce future OAS clawback
Target age 75-80 depletion	Maximize lower-bracket years
Convert to TFSA	Pay tax now, grow tax-free

Tax Implications

RRIF Withdrawals Are Income

Factor	Impact
Added to income	Fully taxable
Federal + provincial tax	Combined rate
OAS clawback possible	If income >$90,997 (2025)
No withholding on minimum	But tax owed at filing

Withholding Tax Rates

Withdrawal Above Minimum	Withholding
Up to $5,000	10%
$5,001-$15,000	20%
Over $15,000	30%

Quebec rates are different (5%/10%/15% + ~15% provincial).

OAS Clawback

Income Level (2025)	Impact
Under $90,997	No clawback
$90,997-$148,451	15% clawback
Over $148,451	Full clawback

Use the OAS clawback calculator if you are trying to keep withdrawals under the recovery-tax threshold.

RRIF vs LIF

Comparison

Feature	RRIF	LIF
Minimum withdrawal	Yes	Yes
Maximum withdrawal	No	Yes
Source	RRSP	Locked-in pension
Flexibility	More	Less

LIF Maximum Rates (Ontario)

Age	Maximum %
65	6.27%
70	7.38%
75	8.96%
80	11.46%

Multiple RRIFs

Rules

Situation	What Happens
Multiple RRIFs	Each has separate minimum
Consolidate?	Simpler tracking
Different purposes	One RRIF can fund another’s minimum

Example

RRIF	Balance	Minimum
RRIF A	$200,000	$10,800
RRIF B	$300,000	$16,200
Total	$500,000	$27,000

You can withdraw $27,000 from either RRIF or split.

Payment Scheduling

Withdrawal Frequency

Option	Benefit
Monthly	Regular income
Quarterly	Less admin
Annually	Maximize growth
Custom	Match expenses

Timing Strategy

Timing	When Best
Early in year	Need income now
Late in year	Maximize growth
Spread out	Income smoothing

Estate Planning

On Death

Situation	Tax Treatment
Spouse beneficiary	Rollover tax-free
Non-spouse beneficiary	Full amount taxable
Estate is beneficiary	Taxable in estate

Strategies

Strategy	Purpose
Name spouse beneficiary	Tax-free transfer
Consider excess withdrawals	Pay tax while alive
TFSA conversion	Tax-free for heirs