Fixed Annual Withdrawal

Type amounts into yellow cells. Amounts are recalculated automatically when you click elsewhere with the mouse or click "Calculate".
Withdrawals are assumed to be made at the end of each year.

A "desired withdrawal" amount (enter as positive amount) can be entered in any year to override the fixed annual withdrawal.
Desired withdrawal of zero will only work if minimum withdrawal is zero.
Inflation factor will not be applied to amounts entered in desired withdrawal column.

A revised estimated rate of return can be entered in any year. This revised rate of return will be used until a different estimated rate of return is entered for a subsequent year.

Balance in RRSP at beginning of year
Age at Dec 31 prior year end
Current year
Convert to RRIF in year in which you turn (or turned) max age is 71
Estimated rate of return
What amount would you like to withdraw annually?
What inflation amount would you like to apply to your annual withdrawal?
This tool does not work for RRIFs started prior to 1993.
Minimum withdrawal will be used if it exceeds desired withdrawal once RRSP is converted to a RRIF.
For locked-in RRIFs maximum withdrawals are governed by federal or provincial legislation and are not part of these calculations.
Age prior
Dec 31 		RRIF
factor 		Estimated
rate of
return 		Rate of
return
used 		Return on
investments 		Desired
withdrawal 		Minimum
withdrawal 		Actual
withdrawal 		Ending
balance

Maximum Withdrawal for X Years

Type amounts into yellow cells. Amounts are recalculated automatically when you hit enter, tab out of a cell, click elsewhere with the mouse, or click the Calculate button (bottom of screen).
Withdrawals are assumed to be made at the end of each year.

A revised estimated rate of return can be entered in any year. This revised rate of return will be used until a different estimated rate of return is entered for a subsequent year.

Balance in RRSP at beginning of year
Age at Dec 31 prior year end
Current year
Convert to RRIF in year in which you turn (or turned) max age is 71
Estimated rate of return
Show the maximum withdrawal for the money to last years
What inflation amount would you like to apply to your annual withdrawal?
This calculator does not work for RRIFs started in 1992 or earlier.
Minimum withdrawal will be used if it exceeds desired withdrawal, once RRSP is converted to a RRIF.
This will reduce the # of years the money will last.
For locked-in RRIFs, maximum withdrawals are governed by federal or provincial legislation, and are not part of these calculations.
Age prior
Dec 31 		RRIF
factor 		Estimated
rate of
return 		Rate of
return
used 		Return on
investments 		Minimum
withdrawal 		Actual
withdrawal 		Ending
balance

RRSP/RRIF Withdrawal Calculator - Help

This tool has 2 separate calculators which can be chosen by selecting the tab for Fixed or Max Withdrawl.

Income tax
RRSP and RRIF withdrawals are taxable. The withdrawals shown are before-tax amounts.
Starting balance in RRSP
This should be the amount in the RRSP at December 31 of the prior year.
Age
Age is the age of the annuitant (owner) of the RRSP at December 31 of the prior year.
  If the annuitant plans to elect to use the age of a younger spouse to calculate minimum withdrawals, then the age of the younger spouse can be used in the calculator.
Convert to RRIF at age
  The latest that an RRSP can be converted to a RRIF is the year in which the taxpayer turns 71.  If a higher age than 71 is entered, age 71 will be used. There is no minimum withdrawal in the year the RRIF is started.

If the RRSP has already been converted to a RRIF, enter the age at which this was done, or the younger spouse's age at that time.
Minimum annual withdrawals
  There is no withdrawal necessary in the year a RRIF (Registered Retirement Income Fund) is set up, but there are minimum amounts that must be withdrawn annually starting in the year after setup.  Unless certain types of annuities are held in the RRIF, the minimum withdrawal amount is calculated by multiplying the market value of the RRIF holdings at the beginning of the year by a "prescribed factor". Locked-in Retirement Accounts (LIRAs) are subject to the same minimum withdrawals as RRIFs. LIRAs are also subject to maximum allowable withdrawals, governed by either federal or provincial legislation.
  For a RRIF started in 1993 or later, the prescribed factor for minimum withdrawals is 1/(90-age), but only while the annuitant is under 71 years old.
  This calculator does not apply to RRIFs started prior to 1993 - use the RRIF Calculator instead.
Estimated rate of return
  The estimated rate of return can be changed to show the effect on minimum withdrawals and how long the RRSP/RRIF investment will last.
Fixed annual withdrawal
  A desired annual withdrawal amount can be entered, but if it is less than the minimum required withdrawal, the minimum required withdrawal will be used in the calculator.
The desired withdrawal can be set to zero each year to eliminate withdrawals before the minimum annual withdrawals start.
 
Inflation rate
  An estimated inflation factor can be used, and the annual withdrawal will be increased by this factor each year. The inflation factor can also be set to zero if desired.
Maximum withdrawal for X years
  This calculator allows you to specify how many years you want your RRSP/RRIF to last. It will calculate the maximum payment per year in order for your RRSP/RRIF to last the specified number of years.
  If the period specified causes the payments to be lower than the minimum annual withdrawals, then the minimum annual withdrawals will be used. This will reduce the number of years that the money will last.
  If your RRIF is locked-in, the maximum amount you may withdraw is governed by either federal or provincial legislation. The maximum withdrawals in the calculator may exceed the maximums allowed by legislation.

These calculators are for educational purposes only. You should not rely on the results as an indication of your financial needs and we recommend that you seek out your own legal, accounting, tax or professional advice. Any information is neither intended to be, or should be construed to be, investment or legal advice or an endorsement of any particular method of investing.