RRIF Payment
Calculate your RRIF payment and how long your RRIF will last.
RRIF value (maximum value $5,000,000)
Start RRIF at age
End RRIF at age
Rate of return (maximum value 16%)
|
200,000
|
|
71
Start RRIF at age
You can start making withdrawals from a RRIF at any age but this calculator assumes age 50 is the earliest you can start. You must convert your RRSP to a RRIF in the year you turn 71. Minimum payments are required in the first calendar year following the establishment of the RRIF. |
|
90
|
|
Use spouse's age
If your spouse is younger than you, you can use their age to calculate your minimum amount. Enter the age that your spouse will be when you are age 71 in the field below. |
|
65
Younger spouse's age
Enter the age that your spouse will be when you are age 71.
Input Error: Younger spouse's age
Enter an age less than 71, the Start RRIF at age number. |
|
6.00%
Input Error: Rate of return
Enter a value between and %. |
|
Start payments in
You can start withdrawals in the first or second year of your RRIF. You can skip the first year withdrawal to allow more of your RRIF to grow in value. The latest you are allowed to take your first payment is December 31 of the year you turn 72. |
|
|
|
12,000
|
|
1.50%
Inflation rate
This inflation rate is used to index the annual fixed payment.
Input Error: Inflation rate
Enter a value between and %. |
Assumptions
Annual RRIF payments are made at the start of the year. Annual payments are before taxes.
Disclaimer
Annual RRIF payments are made at the start of the year. Annual payments are before taxes.
Disclaimer
