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Are you nearing retirement? If you are, you might want to think about getting regular income from your RRSP. Generally, you may have a certain amount of flexibility on the types of income you can receive. You will have to contact your RRSP issuer and ask about the options available to you. Here are your options for your RRSP at any age up to the end of the year that you turn 71. Transfer your RRSP funds to a Registered Retirement Income Fund (RRIF): A year after you establish a RRIF, you can receive a minimum amount each year using a...
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Prescribed Factors for Minimum Annual Withdrawal From a RRIF  The table below shows the prescribed factors for the minimum annual withdrawals, and the % increase to the factors each year. The Federal 2015 Budget proposes to reduce the minimum withdrawal factors for age 71+, for both post-1992 and pre-1993 RRIFs, to the amounts shown below. This change is subject to legislative approval. 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 change)...
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