By Jason Heath, CFP on April 2, 2026 Estimated reading time: 4 minutes

When to consider extra RRIF withdrawals

By Jason Heath, CFP on April 2, 2026 Estimated reading time: 4 minutes

Robert has been taking RRIF withdrawals beyond the minimum required amount to gift to his kids and to reinvest in his taxable account. Should he continue to do so?

I am in my 91st year and for my age, in reasonably good health. I drew down a significant extra sum in 2025 from my RRIF. Fortunately, due to some good earlier decisions, my RRIF remains with a very strong market value. I use this drawdown for two purposes: to reinvest in my non-registered accounts, and also to pass money to my three adult children (tax free in their hands). My TFSA is maximized and my income is such that I no longer qualify for OAS.

Would you please comment on this strategy?

A lot of people hope to say they are reasonably healthy at age 81, let alone 91, Robert. I should trade you my financial advice for your longevity advice. I can address some of the considerations here for you and for other readers. 

Minimum RRIF withdrawals 

There are minimum required withdrawals from a registered retirement income fund (RRIF) each year. If you convert your registered retirement savings plan (RRSP) to a RRIF at age 71, for example, your withdrawals at age 72 must be at least 5.28% of the year-end balance for the previous year. 

In your 91st year, Robert, you will be required to take a minimum of 11.92%. The........

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