{"id":2025,"date":"2023-09-25T21:26:04","date_gmt":"2023-09-25T21:26:04","guid":{"rendered":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/?p=2025"},"modified":"2023-09-25T21:26:04","modified_gmt":"2023-09-25T21:26:04","slug":"calculating-2023-rrif-minimum-withdrawals","status":"publish","type":"post","link":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/2023\/09\/25\/calculating-2023-rrif-minimum-withdrawals\/","title":{"rendered":"Calculating 2023 RRIF Minimum Withdrawals"},"content":{"rendered":"<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9dc9239 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9dc9239\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-dbdf8d9\" data-id=\"dbdf8d9\" data-element_type=\"column\">\n<div class=\"elementor-widget-wrap elementor-element-populated\">\n<div class=\"elementor-element elementor-element-cce5abf elementor-widget elementor-widget-text-editor\" data-id=\"cce5abf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<p><a href=\"https:\/\/wellington-altus.ca\/wp-content\/uploads\/2022\/12\/Calculating-2023-RRIF-Minimum-Withdrawals_12.2022.pdf\" target=\"_blank\" rel=\"noopener\">Download this article as a PDF.<\/a><\/p>\n<p>For clients who have rolled their Registered Retirement Savings Plan (\u201cRRSP\u201d) over to a Registered Retirement Income Fund (\u201cRRIF\u201d) or who have an existing RRIF account in 2022, the following information outlines how their 2023 minimum withdrawal will be calculated. All RRIF withdrawals are reported as pension income on a T4RIF slip.<\/p>\n<h5>Here are some basic RRIF rules to consider:<\/h5>\n<p>\u2022 Withdrawals from a RRIF must begin the first calendar year after which it is established. No withdrawals are required in the year the RRIF is established.<br \/>\n\u2022 Each year, a RRIF annuitant is required to withdraw one or more payments that are at least equal to the minimum calculated amount. This is based on the following factors:<\/p>\n<ol>\n<li>The fair market value (\u201cFMV\u201d) of the RRIF at the beginning of the calendar year. For practical purposes, the closing FMV on the last business day of the previous calendar year is used. For 2023, that would be December 30, 2022. The FMV of the RRIF is then multiplied by the annuitant\u2019s age factor\/percentage.<\/li>\n<li>Either the age of the annuitant, or that of their spouse or common-law partner (\u201cCLP\u201d) on January 1st can<br \/>\nbe used in the calculation. The choice of the age is decided at the time of the first RRIF withdrawal and is irrevocable. Generally, the lower age of either the annuitant or their spouse\/CLP is chosen, as it results in a lower minimum calculated amount. Additional funds can always be taken as needed.<\/li>\n<li>If the age chosen is lower than 71, the following formula is used to determine the minimum calculated percentage:<\/li>\n<\/ol>\n<\/div>\n<\/div>\n<div class=\"elementor-element elementor-element-c0fd64e elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"c0fd64e\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n<div class=\"elementor-widget-container\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-large size-large wp-image-6468\" src=\"https:\/\/wellington-altus.ca\/wp-content\/uploads\/2023\/03\/RRIF-formula.jpg\" alt=\"\" width=\"605\" height=\"132\" data-pagespeed-url-hash=\"3975577341\" \/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"elementor-section elementor-top-section elementor-element elementor-element-36a5f36 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"36a5f36\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-71826d6\" data-id=\"71826d6\" data-element_type=\"column\">\n<div class=\"elementor-widget-wrap elementor-element-populated\">\n<div class=\"elementor-element elementor-element-7d482c9 elementor-widget elementor-widget-image\" data-id=\"7d482c9\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n<div class=\"elementor-widget-container\"><img decoding=\"async\" class=\"attachment-large size-large wp-image-6472\" src=\"https:\/\/wellington-altus.ca\/wp-content\/uploads\/2022\/12\/RRIF-calculation-table.jpg\" alt=\"\" width=\"651\" height=\"321\" data-pagespeed-url-hash=\"352167810\" \/><\/div>\n<\/div>\n<div class=\"elementor-element elementor-element-20878d3 elementor-widget elementor-widget-text-editor\" data-id=\"20878d3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<p><sup>1\u00a0<\/sup>For RRIFs established after 1992<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2e7b5c5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2e7b5c5\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d008133\" data-id=\"d008133\" data-element_type=\"column\">\n<div class=\"elementor-widget-wrap elementor-element-populated\">\n<div class=\"elementor-element elementor-element-86dc1af elementor-widget elementor-widget-text-editor\" data-id=\"86dc1af\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<p>\u2022 The minimum calculated withdrawal amount is not subject to withholding taxes. Any RRIF withdrawal more than the minimum calculated amount is subject to withholding taxes, depending upon the province of residence and amount of the excess withdrawal. The following withholding tax rates apply:<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"elementor-section elementor-top-section elementor-element elementor-element-af039b9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"af039b9\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5976b2c\" data-id=\"5976b2c\" data-element_type=\"column\">\n<div class=\"elementor-widget-wrap elementor-element-populated\">\n<div class=\"elementor-element elementor-element-282eb77 elementor-widget elementor-widget-image\" data-id=\"282eb77\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n<div class=\"elementor-widget-container\"><img decoding=\"async\" class=\"attachment-large size-large wp-image-6476\" src=\"https:\/\/wellington-altus.ca\/wp-content\/uploads\/2022\/12\/Annual-withdrawal-chart.jpg\" alt=\"\" width=\"651\" height=\"83\" data-pagespeed-url-hash=\"910007222\" \/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"elementor-section elementor-top-section elementor-element elementor-element-28f870c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"28f870c\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6af6f9d\" data-id=\"6af6f9d\" data-element_type=\"column\">\n<div class=\"elementor-widget-wrap elementor-element-populated\">\n<div class=\"elementor-element elementor-element-ed52415 elementor-widget elementor-widget-text-editor\" data-id=\"ed52415\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<p>\u2022 Because no withdrawals are required in the year the RRIF is established, any payments from the RRIF in the first calendar year are subject to withholding tax.<br \/>\n\u2022 RRIFs do not have a maximum withdrawal limit other than the FMV of the RRIF.<\/p>\n<h5>Applying the Rules<\/h5>\n<p>To understand the mechanics of the RRIF minimum calculated amount, let\u2019s consider a few scenarios:<\/p>\n<ol>\n<li>Jordan turned 65, retired and converted his RRSP to a RRIF in 2022. Jordan\u2019s spouse Meghan is 66 years of age. At the start of the year, Jordan\u2019s RRIF is valued at $600,000. What is Jordan\u2019s calculated minimum amount for 2023?<br \/>\n\u2192 As Jordan is younger than Meghan, his age would generally be used.<br \/>\n\u2192 Given Jordan was 65 on January 1st, his 2023 RRIF calculated minimum amount is 4% of $600,000, or $24,000.<\/li>\n<li>\u00a0Assuming the same facts as in scenario #1, but changing Meghan\u2019s age to 63, what would Jordan\u2019s calculated minimum amount be?<br \/>\n\u2192 Given that Meghan is younger, her age generally would be used in the minimum calculated percentage formula and would decrease Jordan\u2019s calculated minimum amount percentage as follows: 1 \/ (90 \u2013 63) = 3.70%.<br \/>\n\u2192 Thus, Jordan\u2019s 2023 RRIF calculated minimum amount would be 3.7% of $600,000, or $22,200.<\/li>\n<li>If Jordan and Meghan are both 78 years of age and Jordan\u2019s RRIF is valued at $500,000 at the start of the year, what would Jordan\u2019s 2023 RRIF calculated minimum amount be?<br \/>\n\u2192 6.36% of $500,000, or $31,800<\/li>\n<\/ol>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0cd60e8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0cd60e8\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-89204a4\" data-id=\"89204a4\" data-element_type=\"column\">\n<div class=\"elementor-widget-wrap elementor-element-populated\">\n<div class=\"elementor-element elementor-element-e24db0c elementor-widget elementor-widget-text-editor\" data-id=\"e24db0c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<h5>In Conclusion<\/h5>\n<p>This communication highlights how RRIF minimum withdrawal amounts are calculated. There are a handful of situations<\/p>\n<p>in which clients may wish to withdraw more than their calculated RRIF minimums. For example, they may want to top up income within their marginal tax bracket or split eligible pension income with their spouse and make use of lower marginal tax rates.<\/p>\n<p>For further information about these and other tax planning opportunities, please reach out to us.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Download this article as a PDF. For clients who have rolled their Registered Retirement Savings Plan (\u201cRRSP\u201d) over to a Registered Retirement Income Fund (\u201cRRIF\u201d) or who have an existing RRIF account in 2022, the following information outlines how their 2023 minimum withdrawal will be calculated. All RRIF withdrawals are reported as pension income on [&hellip;]<\/p>\n","protected":false},"author":129,"featured_media":2026,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_oasis_is_in_workflow":0,"_oasis_original":0,"_oasis_task_priority":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2025","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Calculating 2023 RRIF Minimum Withdrawals - Cresco Wealth Management<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/2023\/09\/25\/calculating-2023-rrif-minimum-withdrawals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Calculating 2023 RRIF Minimum Withdrawals - Cresco Wealth Management\" \/>\n<meta property=\"og:description\" content=\"Download this article as a PDF. For clients who have rolled their Registered Retirement Savings Plan (\u201cRRSP\u201d) over to a Registered Retirement Income Fund (\u201cRRIF\u201d) or who have an existing RRIF account in 2022, the following information outlines how their 2023 minimum withdrawal will be calculated. All RRIF withdrawals are reported as pension income on [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/2023\/09\/25\/calculating-2023-rrif-minimum-withdrawals\/\" \/>\n<meta property=\"og:site_name\" content=\"Cresco Wealth Management\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-25T21:26:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/wp-content\/uploads\/sites\/35\/2023\/09\/Calculating-2023-RRIF-Mins.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Cresco Wealth Management\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cresco Wealth Management\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/2023\\\/09\\\/25\\\/calculating-2023-rrif-minimum-withdrawals\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/2023\\\/09\\\/25\\\/calculating-2023-rrif-minimum-withdrawals\\\/\"},\"author\":{\"name\":\"Cresco Wealth Management\",\"@id\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/#\\\/schema\\\/person\\\/b446a1ec94ef6e24569618f87cf96d9e\"},\"headline\":\"Calculating 2023 RRIF Minimum Withdrawals\",\"datePublished\":\"2023-09-25T21:26:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/2023\\\/09\\\/25\\\/calculating-2023-rrif-minimum-withdrawals\\\/\"},\"wordCount\":611,\"publisher\":{\"@id\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/2023\\\/09\\\/25\\\/calculating-2023-rrif-minimum-withdrawals\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/wp-content\\\/uploads\\\/sites\\\/35\\\/2023\\\/09\\\/Calculating-2023-RRIF-Mins.png\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/2023\\\/09\\\/25\\\/calculating-2023-rrif-minimum-withdrawals\\\/\",\"url\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/2023\\\/09\\\/25\\\/calculating-2023-rrif-minimum-withdrawals\\\/\",\"name\":\"Calculating 2023 RRIF Minimum Withdrawals - Cresco Wealth Management\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/2023\\\/09\\\/25\\\/calculating-2023-rrif-minimum-withdrawals\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/2023\\\/09\\\/25\\\/calculating-2023-rrif-minimum-withdrawals\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/wp-content\\\/uploads\\\/sites\\\/35\\\/2023\\\/09\\\/Calculating-2023-RRIF-Mins.png\",\"datePublished\":\"2023-09-25T21:26:04+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/2023\\\/09\\\/25\\\/calculating-2023-rrif-minimum-withdrawals\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/2023\\\/09\\\/25\\\/calculating-2023-rrif-minimum-withdrawals\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/2023\\\/09\\\/25\\\/calculating-2023-rrif-minimum-withdrawals\\\/#primaryimage\",\"url\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/wp-content\\\/uploads\\\/sites\\\/35\\\/2023\\\/09\\\/Calculating-2023-RRIF-Mins.png\",\"contentUrl\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/wp-content\\\/uploads\\\/sites\\\/35\\\/2023\\\/09\\\/Calculating-2023-RRIF-Mins.png\",\"width\":1080,\"height\":1080},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/2023\\\/09\\\/25\\\/calculating-2023-rrif-minimum-withdrawals\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Calculating 2023 RRIF Minimum Withdrawals\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/#website\",\"url\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/\",\"name\":\"Cresco Wealth Management\",\"description\":\"Wellington-Altus Private Wealth\",\"publisher\":{\"@id\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/#organization\",\"name\":\"Cresco Wealth Management\",\"url\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/wp-content\\\/uploads\\\/sites\\\/35\\\/2019\\\/10\\\/Cresco-WM-Logo-1-Colour-1.png\",\"contentUrl\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/wp-content\\\/uploads\\\/sites\\\/35\\\/2019\\\/10\\\/Cresco-WM-Logo-1-Colour-1.png\",\"width\":500,\"height\":401,\"caption\":\"Cresco Wealth Management\"},\"image\":{\"@id\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/advisor.wellington-altus.ca\\\/crescowealthmanagement\\\/#\\\/schema\\\/person\\\/b446a1ec94ef6e24569618f87cf96d9e\",\"name\":\"Cresco Wealth Management\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/18230c9b839453151525f46fcf7bac50c5a2e9a92ebaf6f782d027b1144a05d2?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/18230c9b839453151525f46fcf7bac50c5a2e9a92ebaf6f782d027b1144a05d2?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/18230c9b839453151525f46fcf7bac50c5a2e9a92ebaf6f782d027b1144a05d2?s=96&d=mm&r=g\",\"caption\":\"Cresco Wealth Management\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Calculating 2023 RRIF Minimum Withdrawals - Cresco Wealth Management","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/2023\/09\/25\/calculating-2023-rrif-minimum-withdrawals\/","og_locale":"en_US","og_type":"article","og_title":"Calculating 2023 RRIF Minimum Withdrawals - Cresco Wealth Management","og_description":"Download this article as a PDF. For clients who have rolled their Registered Retirement Savings Plan (\u201cRRSP\u201d) over to a Registered Retirement Income Fund (\u201cRRIF\u201d) or who have an existing RRIF account in 2022, the following information outlines how their 2023 minimum withdrawal will be calculated. All RRIF withdrawals are reported as pension income on [&hellip;]","og_url":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/2023\/09\/25\/calculating-2023-rrif-minimum-withdrawals\/","og_site_name":"Cresco Wealth Management","article_published_time":"2023-09-25T21:26:04+00:00","og_image":[{"width":1080,"height":1080,"url":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/wp-content\/uploads\/sites\/35\/2023\/09\/Calculating-2023-RRIF-Mins.png","type":"image\/png"}],"author":"Cresco Wealth Management","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Cresco Wealth Management","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/2023\/09\/25\/calculating-2023-rrif-minimum-withdrawals\/#article","isPartOf":{"@id":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/2023\/09\/25\/calculating-2023-rrif-minimum-withdrawals\/"},"author":{"name":"Cresco Wealth Management","@id":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/#\/schema\/person\/b446a1ec94ef6e24569618f87cf96d9e"},"headline":"Calculating 2023 RRIF Minimum Withdrawals","datePublished":"2023-09-25T21:26:04+00:00","mainEntityOfPage":{"@id":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/2023\/09\/25\/calculating-2023-rrif-minimum-withdrawals\/"},"wordCount":611,"publisher":{"@id":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/#organization"},"image":{"@id":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/2023\/09\/25\/calculating-2023-rrif-minimum-withdrawals\/#primaryimage"},"thumbnailUrl":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/wp-content\/uploads\/sites\/35\/2023\/09\/Calculating-2023-RRIF-Mins.png","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/2023\/09\/25\/calculating-2023-rrif-minimum-withdrawals\/","url":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/2023\/09\/25\/calculating-2023-rrif-minimum-withdrawals\/","name":"Calculating 2023 RRIF Minimum Withdrawals - Cresco Wealth Management","isPartOf":{"@id":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/#website"},"primaryImageOfPage":{"@id":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/2023\/09\/25\/calculating-2023-rrif-minimum-withdrawals\/#primaryimage"},"image":{"@id":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/2023\/09\/25\/calculating-2023-rrif-minimum-withdrawals\/#primaryimage"},"thumbnailUrl":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/wp-content\/uploads\/sites\/35\/2023\/09\/Calculating-2023-RRIF-Mins.png","datePublished":"2023-09-25T21:26:04+00:00","breadcrumb":{"@id":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/2023\/09\/25\/calculating-2023-rrif-minimum-withdrawals\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/2023\/09\/25\/calculating-2023-rrif-minimum-withdrawals\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/2023\/09\/25\/calculating-2023-rrif-minimum-withdrawals\/#primaryimage","url":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/wp-content\/uploads\/sites\/35\/2023\/09\/Calculating-2023-RRIF-Mins.png","contentUrl":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/wp-content\/uploads\/sites\/35\/2023\/09\/Calculating-2023-RRIF-Mins.png","width":1080,"height":1080},{"@type":"BreadcrumbList","@id":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/2023\/09\/25\/calculating-2023-rrif-minimum-withdrawals\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/"},{"@type":"ListItem","position":2,"name":"Calculating 2023 RRIF Minimum Withdrawals"}]},{"@type":"WebSite","@id":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/#website","url":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/","name":"Cresco Wealth Management","description":"Wellington-Altus Private Wealth","publisher":{"@id":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/#organization","name":"Cresco Wealth Management","url":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/#\/schema\/logo\/image\/","url":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/wp-content\/uploads\/sites\/35\/2019\/10\/Cresco-WM-Logo-1-Colour-1.png","contentUrl":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/wp-content\/uploads\/sites\/35\/2019\/10\/Cresco-WM-Logo-1-Colour-1.png","width":500,"height":401,"caption":"Cresco Wealth Management"},"image":{"@id":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/#\/schema\/person\/b446a1ec94ef6e24569618f87cf96d9e","name":"Cresco Wealth Management","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/18230c9b839453151525f46fcf7bac50c5a2e9a92ebaf6f782d027b1144a05d2?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/18230c9b839453151525f46fcf7bac50c5a2e9a92ebaf6f782d027b1144a05d2?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/18230c9b839453151525f46fcf7bac50c5a2e9a92ebaf6f782d027b1144a05d2?s=96&d=mm&r=g","caption":"Cresco Wealth Management"}}]}},"_links":{"self":[{"href":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/wp-json\/wp\/v2\/posts\/2025","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/wp-json\/wp\/v2\/users\/129"}],"replies":[{"embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/wp-json\/wp\/v2\/comments?post=2025"}],"version-history":[{"count":1,"href":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/wp-json\/wp\/v2\/posts\/2025\/revisions"}],"predecessor-version":[{"id":2027,"href":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/wp-json\/wp\/v2\/posts\/2025\/revisions\/2027"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/wp-json\/wp\/v2\/media\/2026"}],"wp:attachment":[{"href":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/wp-json\/wp\/v2\/media?parent=2025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/wp-json\/wp\/v2\/categories?post=2025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/advisor.wellington-altus.ca\/crescowealthmanagement\/wp-json\/wp\/v2\/tags?post=2025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}