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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.

Annual Withdrawals

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.