Notification of your annual minimum and maximum RIF payments (also applies to LIF/LRIF) will be issued within the first 6 weeks of the new year. The minimum is based on the Market Value of the portfolio as of December 31 and includes accrued interest and any transactions processed in January with a value date of December 31.

A minimum annual payment is not required in the year the Plan opened. Any withdrawals made in the first year are subject to withholding tax.

It is the sole responsibility of the planholder to liquidate their holdings to meet their requested cash payment. Payments can also be made in the form of securities to a Direct Trading account.

The calculation of your annual minimum payment is based on the criteria for a Qualifying or Non-Qualifying RIF.
Below is the complete RRIF minimum amount withdrawal schedule:

RRIF Factors
Age Factor
(at start of year) %
65 4.00
66 4.17
67 4.35
68 4.55
69 4.76
70 5.00
71 5.28
72 5.40
73 5.53
74 5.67
75 5.82
76 5.98
77 6.17
78 6.36
79 6.58
80 6.82
81 7.08
82 7.38
83 7.71
84 8.08
85 8.51
86 8.99
87 9.55
88 10.21
89 10.99
90 11.92
91 13.06
92 14.49
93 16.34
94 18.79
95 & over 20.00

 

Article updated: 22-Jul-15