A Registered Retirement Income Fund (RRIF) is a investment vehicle used in retirement. Once funded, you can make periodic withdrawals while the remaining balance remains tax deferred. This calculator is designed to help you calculate different payment options from your RRIF. You can find out your minimum required payments, how long you can draw funds based on your desired monthly payment or what your payment would be based on a fixed number of years to withdraw.

Start date

This is the date that you open your RRIF.

Age on start date

Your age as of the start date. Your age is used to determine your minimum annual payments.

Initial investment amount

The initial investment you placed in your RRIF.

Interest rate

Annual rate of return on your RRIF. For example, the long-term rate of return for the TSE is about 11% over the last 20 years. Savings accounts at a bank or credit union pay as little as 2% or less.

Payment calculations

This calculator allows you to find your RRIF payment in one of three ways. If you choose "Minimum required payments" it will calculate only your minimum required payment. Your required minimum payment will change each year as you grow older. The "Maximum payment for a fixed number of years" calculates your monthly and annual payment based on a fixed number your years that you enter. Finally, a "Fixed monthly payment" allows you to select a fixed monthly payment and calculate how low your RRIF will last.

Start payments in the first year

You may elect to take a payment in the first year when you set up your RRIF, but you are not required to. Check this box if you would like payments to begin in the first year.