What has to come out.
A percentage of the balance on 1 January, set by your age, withdrawn whether you need it or not. There is no maximum — only this floor.
The next twenty years
| Age | Factor | Opening balance | Minimum withdrawal |
|---|
The projection grows the balance at the rate entered and subtracts each year's minimum. A flat return is an illustration of the factor curve, not a forecast — real returns are not flat, and a fall in February does not reduce a minimum set on 1 January.
The deadline before any of this
An RRSP must be converted by 31 December of the year you turn 71 — to a RRIF, to an annuity, or withdrawn in cash. The year, not the birthday. The full explanation.
Using a spouse's age
The factor may be based on a younger spouse's or common-law partner's age instead, elected when the RRIF is established and irrevocable afterwards. A younger spouse means a smaller minimum for the life of the plan.
What it collides with
A RRIF withdrawal is net income, and net income is what the OAS recovery tax is measured against. Someone whose dividends already sit near the threshold can be pushed over it by a minimum they did not choose to take. What that costs.
Source
Prescribed factors transcribed 2026-08-21 from the CRA's published schedule. Below 71 the factor is formulaic rather than tabled.