At what age do mandatory withdrawals from a Registered Retirement Income Fund (RRIF) generally start?

Mandatory withdrawals from a Registered Retirement Income Fund (RRIF) begin at age 71. This requirement is established by the Canadian federal government as part of the rules governing retirement savings and income. At this age, account holders must begin to withdraw a minimum amount annually from their RRIFs to ensure that the funds are eventually depleted, as RRIFs are intended for generating income during retirement rather than as long-term tax-deferral vehicles.

The minimum withdrawal amount is calculated based on the account holder’s age and the value of the RRIF at the beginning of the year, and it increases as the holder ages. By setting this mandatory withdrawal age, the government encourages individuals to use their retirement savings for their intended purpose—providing income during retirement years—while also ensuring that tax revenues are collected on the funds that have been sheltered from tax during the accumulation phase.