RRIF/LIF/LRIF/RLIF Illustration Help
This calculator allows you to run an illustration for a RRIF, LIF, LRIF or RLIF. By clicking on the appropriate radio button, you will be able to do a projection comparison for up to three different payment streams
Issue Amount
  • Enter Dollar amount
  • Plan regulations vary from province to province. For more information on the plan regulations contact your local TD branch to meet with an advisor.
  • Use the pull down menu to select the province of residence (or Canada for Federal)
Payment Frequency
  • Use the pull down menu to choose the payment frequency
  • Choices are Monthly, Quarterly, Semi-Annual or Annual
Note: calculator defaults to Annual frequency
Interest Rate
  • Enter a rate of return with up to 2 decimal places
First Pay Date
  • Enter First Payment Date in the following format dd/mm/yyyy
  • Customer may elect any date within one year of issue date to receive their payment
Note: For RRIF calculations, if these are new funds transferred from an RRSP and the payment is taken before 1 year, then the full payment will be taxed
The “First Payment Date” refers to the date payments are to start. This date cannot be later than the year following the issue date
Note: The “First Payment Date” is based on frequency chosen. For example if the Issue date is 2005/06/20 then the corresponding maximum “First Payment dates” depending on the frequency are:
  • Annual Frequency: 2006/12/31
  • Semi-Annual Frequency: 2006/06/30
  • Quarterly Frequency: 2006/03/31
  • Monthly Frequency: 2006/01/31
Issue Date
  • Enter the date funds are received or expected to be received in the following format dd/mm/yyyy
Your Birth Date
  • Enter customer birth date using the following format dd/mm/yyyy
  • Birth date must be within the past 100 years
Spouse’s Birth Date
  • Enter spouse’s birth date using the following format: dd/mm/yyyy
  • To decrease mandatory minimum payments, customer may choose to enter the younger spouse’s age
  • If larger minimum payments are desired, then the older spouse’s age should be used
  • The minimum payment can be based on your age or your spouse’s age. The maximum payment must be based on your age
New Funds after 1992
  • Do not check the checkbox if these funds are from a plan opened before 1992
  • Check the checkbox (default setting) if these funds are from a plan opened after 1992
Note: If these funds are being combined with a plan opened after 1992, do not check the checkbox
Deduct Withholding Taxes
  • If you are a resident of Canada, all payments from a RRIF must be declared as income for the year they are received. Tax must be withheld on amounts withdrawn in excess of the annual minimum amount that is required to be paid under the Income Tax Act (Canada). If you receive RRIF payments in scheduled installments, we will compute withholding tax on each individual RRIF installment payment based on the total sum of the scheduled installment payments for a calendar year and not on each individual payment.
Payment Type
  • To change the payment type, simply use the pull down menu, click on the desired payment type
  • The 4 payment types are Minimum, Amortized , Selected $ or Selected %
  • If Amortized payment is selected, then an end age and index percent is required. The system will default Maximum Age to 90
  • If any portion of the minimum payment amount has not been paid out by December 31, then the remaining annual minimum amount will be automatically paid out
Note: You cannot enter age less than current age
For LIFs and LRIFs
  • The 4 payment options are Minimum, Maximum and Selected $, Selected %
  • The calculator will default to minimum payment
  • If Selected payment is chosen, the system will default to the minimum annual payment amount specified by government legislation. An annual payment amount requested and an index percentage can be entered
Note: You cannot enter an amount less than minimum or greater than maximum allowable
  • Output for this calculator is in two forms: Graph and Table
  • The payment stream Table is the default view for the calculator
  • To change to the Graph view, click on Graph
  • To generate a report, click on the Generate Report button
  • The report generates a PDF file in Adobe acrobat
  • To print the report, click on the printer icon
  • The report includes a summary of the information that you input together with the assumptions, a payment comparison table and a detailed payment table for each payment type selected.