Registered Retirement Income Fund (RRIF)
Description
A RRIF allows an investor to convert his or her retirement savings into retirement income. Any time before the end of the year you turn 71, RRSPs must be converted to RRIFs. There is a minimum annual withdrawal required each year based on the value of the RRIF and the plan holder's age (or spouse's age) at the beginning of the year the withdrawal takes place. The payments made to you from your RRIF are taxable, but the investment in a RRIF continues to grow tax-deferred until they are withdrawn.
How Much May I Withdraw From My RRIF Each Year?
Subject to the government's minimum annual requirements, you may withdraw as much - or as little - as you want from your RRIF, whenever you want. You can also make a complete withdrawal at any time if needed. The minimum amount that must be withdrawn each year is equal to the market value of the RRIF at the beginning of the year, multiplied by a specific percentage.
| Age at Start of Year | Minimum Withdrawal (%) |
| 69 | 4.76 |
| 70 | 5.00 |
| 71 | 7.38 |
| 72 | 7.48 |
| 73 | 7.59 |
| 74 | 7.71 |
| 75 | 7.85 |
| 76 | 7.99 |
| 77 | 8.15 |
| 78 | 8.33 |
| 79 | 8.53 |
| 80 | 8.75 |
| 81 | 8.99 |
| 82 | 9.27 |
| 83 | 9.58 |
| 84 | 9.93 |
| 85 | 10.33 |
| 86 | 10.79 |
| 87 | 11.33 |
| 88 | 11.96 |
| 89 | 12.71 |
| 90 | 13.62 |
| 91 | 14.73 |
| 92 | 16.12 |
| 93 | 17.92 |
| 94+ | 20.00 |
In the year the RRIF was established, there is not a minimum withdrawal required.
Edward Jones Self-Directed RRIF
Edward Jones can help you set up a self-directed RRIF. You will be able to withdraw money or deregister the plan at any time and choose the investments you want in your portfolio. Your RRIF can even be rolled over to your spouse, tax free, without delay in the event of your death.
For more information, please contact your Edward Jones financial advisor*.
