A registered retirement income fund (RRIF) is similar to a registered retirement savings plan (RRSP). The account contains your accumulated pension funds during your working life. The advantage with RRIF is you will periodically withdraw a portion of your savings to utilize and still continue receiving a reduced taxable income.

People to consider a RRIF;

  • Any retiree who wish to receive a retirement income from their RRSP
  • Any person who wish to retain a certain control over their investments

With a RRIF, you can withdraw a non-taxable minimum annual amount. Any higher amount you withdraw will be taxable.

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
77 8.15 95 20
78 8.33 96 20
79 8.53 97 20
80 8.75 98 20
81 8.99 99 20
82 9.27 100 20