The new RRIF factors will permit holders to preserve more of their savings in order to provide income during retirement while continuing to ensure that tax deferral is provided on their RRIF.
The new RRIF factors will apply for the 2015 and subsequent taxation years. To provide flexibility, RRIF holders who at any time in 2015 withdraw more than the reduced 2015 minimum amount will be permitted to re-contribute the excess (up to the amount of the reduction in the minimum withdrawal amount provided by this measure) to their RRIFs.
Re-contributions will be permitted until February 29, 2016 and will be deductible for the 2015 taxation year.
| Age (at start of year) |
Exixting RRIF Factor | New RRIF Factor |
| 71 | 7.38 | 5.28 |
| 72 | 7.48 | 5.40 |
| 73 | 7.59 | 5.53 |
| 74 | 7.71 | 5.67 |
| 75 | 7.85 | 5.82 |
| 76 | 7.99 | 5.98 |
| 77 | 8.15 | 6.17 |
| 78 | 8.33 | 6.36 |
| 79 | 8.53 | 6.58 |
| 80 | 8.75 | 6.82 |
| 81 | 8.99 | 7.08 |
| 82 | 9.27 | 7.38 |
| 83 | 9.58 | 7.71 |
| 84 | 9.93 | 8.08 |
| 85 | 10.33 | 8.51 |
| 86 | 10.79 | 8.99 |
| 87 | 11.33 | 9.55 |
| 88 | 11.96 | 10.21 |
| 89 | 12.71 | 10.99 |
| 90 | 13.62 | 11.92 |
| 91 | 14.73 | 13.06 |
| 92 | 16.12 | 14.49 |
| 93 | 17.92 | 16.34 |
| 94 | 20.00 | 18.79 |
| 95 & over | 20.00 | 20.00 |