Retirement Income Plans
Registered Retirement Income Fund (RRIF)
A registered retirement income fund (RRIF) acts as an extension of a registered retirement savings plan (RRSP). It allows you to advantageously utilize the amounts you accumulated throughout your working life: you periodically withdraw a portion of your savings and continue to accumulate tax-sheltered income.
Who Should Consider a RRIF?
- Retirees who wish or need to use their RRSPs as a source of income.
- Persons wanting to retain a certain amount of autonomy in the management of their investments.
You are required by law to withdraw a minimum annual amount from your RRIF. Over and above that amount, all periodic and lump sum withdrawals are taxable. No maximum withdrawal applies.
| Table of RRIF Minimum Withdrawals | Age | Withdrawal | Age | Withdrawal |
|---|---|---|---|
| 65 | 4.00% | 83 | 9.58% |
| 66 | 4.17% | 84 | 9.93% |
| 67 | 4.35% | 85 | 10.33% |
| 68 | 4.35% | 86 | 10.79% |
| 69 | 4.76% | 87 | 11.33% |
| 70 | 5.00% | 88 | 11.96% |
| 71 | 7.38% | 89 | 12.71% |
| 72 | 7.48% | 90 | 13.62% |
| 73 | 7.59% | 91 | 14.73% |
| 74 | 7.71% | 92 | 16.12% |
| 75 | 7.85% | 93 | 17.92% |
| 76 | 7.99% | 94 | 20.00% |
| 77 | 8.15% | 95 | 20.00% |
| 78 | 8.33% | 96 | 20.00% |
| 79 | 8.53% | 97 | 20.00% |
| 80 | 8.75% | 98 | 20.00% |
| 81 | 8.99% | 99 | 20.00% |
| 82 | 9.27% | 100 | 20.00% |
