Quick Contact
Ottawa office
466 Tremblay Road
Ottawa, ON K1G 3R1

Tel: 613-231-2266
Fax: 613-231-2345
Toll Free: 1-888-613-1234
Winnipeg office

Mailing address:
P.O. Box 764
Winnipeg, MB R3C 2L4

Street address:
Unit 1391,
1403 Kenaston Blvd.
Winnipeg, MB R3P 2T5

Tel: (204) 942-4438
Fax: (204) 943-5998
Toll Free: 1-888-204-1234


October 21, 2015
Changes to RRIF for 2015 Tax Year

The 2015 Federal Budget introduced a reduction to the minimum amount that must be withdrawn from a Registered Retirement Income Fund (RRIF) for seniors aged 71 and older. Mandatory withdrawal factors were lowered which reduced the amount of RRIF assets that seniors must withdraw for tax purposes. The legislation for this change received Royal Assent on June 23, 2015 and the reduced RRIF minimum withdrawal factors are effective for the 2015 tax year.

The table below shows the new factors for ages 71 to 94 years old. Prior to the 2015 Federal Budget change to RRIF, plans that were set up prior to 1993 had lower RRIF factors than plans that were set up after 1992. Starting in 2015, all plans use the new factors.


employee benefits specialists
Personal financial programs for you and your family.