# Registered Retirement Income Fund (RRIF)

> A RRIF is the account most Canadians move their RRSP into by the end of the year they turn 71, from which a minimum amount must be withdrawn every year and taxed as income.

Canonical page: https://find.wellspent.co/glossary/rrif/
Also called: RRIF, RIF, registered retirement income fund

You can convert earlier than 71. No minimum applies in the year the RRIF is opened. From the next year, the minimum is the account's value at the start of the year times a factor set by age: 5.28% at 71 for most RRIFs, rising each year after. Before 71 the factor is 1 divided by (90 minus your age).

You can base the minimum on a younger spouse's or common-law partner's age, which lowers it, but only if you choose that when you open the RRIF. The choice can't be changed later.

You can always take out more than the minimum. Every withdrawal counts as income, which matters for the OAS clawback, so the order in which you draw on a RRIF, a TFSA and taxable accounts is one of the main things a retirement plan works out.

## Sources

- [Canada Revenue Agency, Minimum amount from a RRIF (page modified January 7, 2026)](https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/completing-slips-summaries/t4rsp-t4rif-information-returns/payments/minimum-amount-a-rrif.html)
- [Canada Revenue Agency, Chart: prescribed factors for RRIF minimum amounts](https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/completing-slips-summaries/t4rsp-t4rif-information-returns/payments/chart-prescribed-factors.html)
- [Canada Revenue Agency, Options for your own RRSPs when you turn 71 (page modified January 3, 2025)](https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/rrsp-options-when-you-turn-71/options-your-rrsps.html)

## Related terms

- [Registered Retirement Savings Plan (RRSP)](https://find.wellspent.co/glossary/rrsp.md)
- [LIRA and LIF (locked-in accounts)](https://find.wellspent.co/glossary/lira-and-lif.md)
- [OAS clawback (OAS recovery tax)](https://find.wellspent.co/glossary/oas-clawback.md)
- [Tax-Free Savings Account (TFSA)](https://find.wellspent.co/glossary/tfsa.md)