What is the maximum annual withdrawal amount from an RRIF or LIF?

There is no maximum annual withdrawal amount for RRIFs.

Each year, you must withdraw a minimum amount from your LIF at a frequency of your choice. This amount varies according to your age or your spouse's age and is calculated in the same way as the minimum annual RRIF withdrawal.

In most provinces, LIFs are subject to a maximum annual withdrawal limit that varies according to your account balance and age. This makes it impossible to predict exactly what this limit will be from one year to the next.

If you are 55 years or older when you apply for income from a Quebec LIF, the calculated amount is an estimate. There will be no maximum withdrawal limit as of January 1, 2025.