High RRIF withdrawal rates leave older Canadians at risk of outliving their tax-deferred savings, says C.D. Howe Institute
, leaving older Canadians at risk of outliving their tax-deferred savings. Assume that a retiree aged 71 has $400,000 in RRIF assets.
The blue line shows how the RRIF balance would decline if the retiree achieves the same investment returns as did the median pension fund manager between 1991 and 2021 . The first time theassets drop below $400,000 is at age 88. Future investment returns, however, are likely to be lower than historic returns. The red line shows what would happen if future annual returns were 1.5 percentage points lower than the 1991-2021 returns.Retirement Income for Life.
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