RRIFs provide tax-sheltered growth as individuals withdraw taxable amounts to fund retirement. Discover rules and minimum RRIF amounts table with this RRIF Planning infographic.
Starting in the year after the year you establish a RRIF, you have to be paid a yearly minimum amount. You can withdraw more, but not less than the minimum. The payout period under your RRIF is for your entire life. Your minimum amount based on your age at the beginning of each year, however, you can elect to have the payment based on your spouse or common-law partner’s age. Visit CRA for more details.