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New 2015 RRIF Minimum Withdrawal Table
RRIF Payout Schedule.
The Conservative government's new 2015 budget changes the rules that require retirees to start withdrawing cash from their registered income funds (RRIF's). Canadian seniors are now living longer and that is why the changes were made.
Under the law, Canadians aged 71 must convert their RRSP into a RRIF or an annuity. Below are the minumum percentages Canadian seniors must draw down their RRIFs annually commencing no later than age of 71.
2015 RRIF Minimum Withdrawal Table
| Age at start of year |
New Factor (%) 2015 and later |
Previous Factor (%) 1992 to 2015 |
Previous Factor (%) pre 1992 |
|---|---|---|---|
| 60 | 3.33% | 3.33% | 3.33% |
| 61 | 3.45% | 3.45% | 3.45% |
| 62 | 3.57% | 3.57% | 3.57% |
| 63 | 3.70% | 3.70% | 3.70% |
| 64 | 3.85% | 3.85% | 3.85% |
| 65 | 4.00% | 4.00% | 4.00% |
| 66 | 4.17% | 4.17% | 4.17% |
| 67 | 4.35% | 4.35% | 4.35% |
| 68 | 4.55% | 4.55% | 4.55% |
| 69 | 4.76% | 4.76% | 4.76% |
| 70 | 5.00% | 5.00% | 5.00% |
| 71 | 5.28% | 7.38% | 5.26% |
| 72 | 5.40% | 7.48% | 5.56% |
| 73 | 5.53% | 7.59% | 5.88% |
| 74 | 5.67% | 7.71% | 6.25% |
| 75 | 5.82% | 7.85% | 6.67% |
| 76 | 5.98% | 7.99% | 7.14% |
| 77 | 6.17% | 8.15% | 7.69% |
| 78 | 6.36% | 8.33% | 8.33% |
| 79 | 6.58% | 8.53% | 8.53% |
| 80 | 6.82% | 8.75% | 8.75% |
| 81 | 7.08% | 8.99% | 8.99% |
| 82 | 7.38% | 9.27% | 9.27% |
| 83 | 7.71% | 9.58% | 9.58% |
| 84 | 8.08% | 9.93% | 9.93% |
| 85 | 8.51% | 10.33% | 10.33% |
| 86 | 8.99% | 10.79% | 10.79% |
| 87 | 9.55% | 11.33% | 11.33% |
| 88 | 10.21% | 11.96% | 11.96% |
| 89 | 10.99% | 12.71% | 12.71% |
| 90 | 11.92% | 13.62% | 13.62% |
| 91 | 13.06% | 14.73% | 14.73% |
| 92 | 14.49% | 16.12% | 16.12% |
| 93 | 16.34% | 17.92% | 17.92% |
| 94+ | 18.79% | 20.00% | 20.00% |
| 95 & over | 20.00% | 20.00% | 20.00% |
RRIF Withdrawal Chart
