If you’re looking to plan for retirement, you will need to convert your registered account to a RRIF or LIF in the calendar year before you will need the income.
Once an account has been converted into a RRIF or a LIF, you are required to begin making the minimum withdrawals in the following calendar year. These minimums are set on January 1st of each year and are determined by either your age or your spouse’s age. LIF accounts will also have a maximum amount that you can withdraw each year.
The below table lays out the 2025 minimum and maximum withdrawal accounts for RRIF and LIF accounts for British Columbia.
If you have any questions about converting your accounts or making a MIC investment with Armada, please contact the office. A dealer representative would be happy to help you.
Age | RRIF & LIF Minimum | LIF Maximum |
54 | 2.78% | 6.45% |
55 | 2.86% | 6.51% |
56 | 2.94% | 6.57% |
57 | 3.03% | 6.63% |
58 | 3.13% | 6.70% |
59 | 3.23% | 6.77% |
60 | 3.33% | 6.85% |
61 | 3.45% | 6.94% |
62 | 3.57% | 7.04% |
63 | 3.70% | 7.14% |
64 | 3.85% | 7.26% |
65 | 4.00% | 7.38% |
66 | 4.17% | 7.52% |
67 | 4.35% | 7.67% |
68 | 4.55% | 7.83% |
69 | 4.76% | 8.02% |
70 | 5.00% | 8.22% |
71 | 5.28% | 8.45% |
72 | 5.40% | 8.71% |
73 | 5.53% | 9.00% |
74 | 5.67% | 9.34% |
75 | 5.82% | 9.71% |
76 | 5.98% | 10.15% |
77 | 6.17% | 10.66% |
78 | 6.36% | 11.25% |
79 | 6.58% | 11.96% |
80 | 6.82% | 12.82% |
81 | 7.08% | 13.87% |
82 | 7.38% | 15.19% |
83 | 7.71% | 16.90% |
84 | 8.08% | 19.19% |
85 | 8.51% | 22.40% |
86 | 8.99% | 27.23% |
87 | 9.55% | 35.29% |
88 | 10.21% | 51.46% |
89 | 10.99% | 100.00% |
90 | 11.92% | 100.00% |
91 | 13.06% | 100.00% |
92 | 14.49% | 100.00% |
93 | 16.34% | 100.00% |
94 | 18.79% | 100.00% |
95+ | 20.00% | 100.00% |