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What is the RRIF minimum withdrawal?

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Quick Answer

The RRIF minimum withdrawal ranges from 4 to 20 percent depending on age, states Wood Gundy. Different minimum withdrawal rules apply for RRIF accounts created before 1993.

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Full Answer

The RRIF minimum withdrawal starts at 4 percent for people aged 65 years old at the start of the year. It rises at a steady exponential rate, and stops at 20 percent for people aged 95 and older at the start of the year, says Wood Gundy. Examples of RRIF minimum withdrawal amounts based on age include 5 percent for people aged 70 years old at the start of the year and 11.92 percent for people aged 90 at the start of the year.

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