Investing › RIF-Retirement Income Options › Annual Minimum Payment Schedule
Annual Minimum Payment Schedule
The federal government requires that holders of retirement income funds withdraw a minimum amount of retirement income from their RIFs each year, according to the following schedule:
| Your age — or your spouse's (the choice is yours)1 | Annual minimum withdrawal %2 |
|---|---|
| 55 | 2.86 |
| 56 | 2.94 |
| 57 | 3.03 |
| 58 | 3.13 |
| 59 | 3.23 |
| 60 | 3.33 |
| 61 | 3.45 |
| 62 | 3.57 |
| 63 | 3.70 |
| 64 | 3.85 |
| 65 | 4.00 |
| 66 | 4.17 |
| 67 | 4.35 |
| 68 | 4.55 |
| 69 | 4.76 |
| 70 | 5.00 |
| 71 | 5.28 |
| 72 | 5.40 |
| 73 | 5.53 |
| 74 | 5.67 |
| Your age — or your spouse's (the choice is yours)1 | Annual minimum withdrawal %2 |
|---|---|
| 75 | 5.82 |
| 76 | 5.98 |
| 77 | 6.17 |
| 78 | 6.36 |
| 79 | 6.58 |
| 80 | 6.82 |
| 81 | 7.08 |
| 82 | 7.38 |
| 83 | 7.71 |
| 84 | 8.08 |
| 85 | 8.51 |
| 86 | 8.99 |
| 87 | 9.55 |
| 88 | 10.21 |
| 89 | 10.99 |
| 90 | 11.92 |
| 91 | 13.06 |
| 92 | 14.49 |
| 93 | 16.34 |
| 94 | 18.79 |
| 95+ | 20.00 |
1For customers under 71 years of age, Annual Minimum Payment for non-qualifying RIF is calculated as follows:
| AMP = (value of RIF at beginning of the year) X | 1 |
| (90 - planholder's or spouse's age) |
2Minimum withdrawal percentages are subject to change.