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RRIF Illustration
Introduction
Background
This RRIF Calculator will give you an idea of how long funds in a Registered Retirement Income Fund (or RRIF) will last. In a nutshell,
a RRIF is a withdrawal plan in which proceeds from an RRSP are used to provide annual income. Investment earnings continue to accumulate
on a tax-sheltered basis.
Each year, there must be a minimum withdrawal, which depends on the age of the RRIF holder and the market value
of the account on December 31 of the preceding year.
You can select an annual withdrawal equal to the minimum amount, or specify another amount that is the same each year or increases annually
in line with the expected rate of inflation. If you select another amount and it is lower than the minimum in a future year,
the withdrawal will be increased to the minimum amount.
The annual minimum withdrawal of a RRIF depends on your age and on the market value of assets in the account at the beginning of each year.
Estimate Your RRIF Balance
Enter the market value of the RRIF at the beginning of the year and the type of withdrawal you want and the RRIF Calculator will project
the balance of the RRIF to age 100.
Data Input
To get a RRIF illustration, complete the information and click the Refresh button on the Actions menu.
Results
Illustration of possible outcomes with the RRIF
You must click the Refresh button on the Actions menu to update the calculations.
The following chart and table show the evolution of assets over time given the annual withdrawals and expected investment income.
- The RRIF payout schedule below is based on annual payments equal to the minimum withdrawal required under the Income Tax Act.
Year | Age | Minimum Percentage | Minimum Withdrawal | Market Value of RRIF | Investment Income | Annual Withdrawal | 2024 | 60 | 3.33% | 0 | 100,000 | 6,000 | 0 | 2025 | 61 | 3.45% | 3,655 | 106,000 | 6,141 | 3,655 | 2026 | 62 | 3.57% | 3,874 | 108,486 | 6,277 | 3,874 | 2027 | 63 | 3.70% | 4,107 | 110,889 | 6,407 | 4,107 | 2028 | 64 | 3.85% | 4,353 | 113,189 | 6,530 | 4,353 | 2029 | 65 | 4.00% | 4,615 | 115,366 | 6,645 | 4,615 | 2030 | 66 | 4.17% | 4,892 | 117,396 | 6,750 | 4,892 | 2031 | 67 | 4.35% | 5,185 | 119,254 | 6,844 | 5,185 | 2032 | 68 | 4.55% | 5,496 | 120,913 | 6,925 | 5,496 | 2033 | 69 | 4.76% | 5,826 | 122,342 | 6,991 | 5,826 | 2034 | 70 | 5.00% | 6,175 | 123,507 | 7,040 | 6,175 | 2035 | 71 | 5.28% | 6,567 | 124,372 | 7,068 | 6,567 | 2036 | 72 | 5.40% | 6,743 | 124,873 | 7,088 | 6,743 | 2037 | 73 | 5.53% | 6,925 | 125,218 | 7,098 | 6,925 | 2038 | 74 | 5.67% | 7,110 | 125,391 | 7,097 | 7,110 | 2039 | 75 | 5.82% | 7,297 | 125,378 | 7,085 | 7,297 | 2040 | 76 | 5.98% | 7,485 | 125,166 | 7,061 | 7,485 | 2041 | 77 | 6.17% | 7,697 | 124,742 | 7,023 | 7,697 | 2042 | 78 | 6.36% | 7,891 | 124,068 | 6,971 | 7,891 | 2043 | 79 | 6.58% | 8,103 | 123,148 | 6,903 | 8,103 | 2044 | 80 | 6.82% | 8,317 | 121,948 | 6,818 | 8,317 | 2045 | 81 | 7.08% | 8,528 | 120,449 | 6,715 | 8,528 | 2046 | 82 | 7.38% | 8,755 | 118,636 | 6,593 | 8,755 | 2047 | 83 | 7.71% | 8,980 | 116,474 | 6,450 | 8,980 | 2048 | 84 | 8.08% | 9,207 | 113,944 | 6,284 | 9,207 | 2049 | 85 | 8.51% | 9,448 | 111,021 | 6,094 | 9,448 | 2050 | 86 | 8.99% | 9,679 | 107,667 | 5,879 | 9,679 | 2051 | 87 | 9.55% | 9,919 | 103,867 | 5,637 | 9,919 | 2052 | 88 | 10.21% | 10,168 | 99,585 | 5,365 | 10,168 | 2053 | 89 | 10.99% | 10,417 | 94,782 | 5,062 | 10,417 | 2054 | 90 | 11.92% | 10,660 | 89,427 | 4,726 | 10,660 | 2055 | 91 | 13.06% | 10,904 | 83,493 | 4,355 | 10,904 | 2056 | 92 | 14.49% | 11,149 | 76,944 | 3,948 | 11,149 | 2057 | 93 | 16.34% | 11,396 | 69,743 | 3,501 | 11,396 | 2058 | 94 | 18.79% | 11,621 | 61,848 | 3,014 | 11,621 | 2059 | 95 | 20.00% | 10,648 | 53,241 | 2,556 | 10,648 | 2060 | 96 | 20.00% | 9,030 | 45,149 | 2,167 | 9,030 | 2061 | 97 | 20.00% | 7,657 | 38,286 | 1,838 | 7,657 | 2062 | 98 | 20.00% | 6,493 | 32,467 | 1,558 | 6,493 | 2063 | 99 | 20.00% | 5,506 | 27,532 | 1,322 | 5,506 |
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