RRIF payment schedule

Example:

You turn 69 and open a RRIF by the end of the year. Your plan balance at January 1st of the next year is $100,000. In order to find your withdrawal amount, take your plan balance and multiply it by the minimum withdrawal percentage in the schedule below: $100,000 x 4.76% = $4,760. This is the amount you must withdraw during the year.  You can use the same method to calculate your minimum withdrawal up until you are 94 years old.

The next year, you will be 70 on January 1st and as such, the mandatory minimum redemption amount will be 5.0% of your RRIF's value on January 1st.

* For RRIFs that were already in existence in 1992, use the applicable rate listed under "Old Schedule". At age 78 you will then switch to the "New Schedule".
Any RRIF opened in 1993 and beyond will automatically use the "New Schedule" rates.