The lower RRIF factors now start at 3.96 per cent at age 71, rising to 15 per cent at age 94. For ages up to 71, the RRIF factors have also been reduced by 25 per cent for 2020. The lower minimum withdrawal factors also apply to Life Income Funds (LIFs) and other locked-in RRIFs. If you have already withdrawn more than the lower minimum amount in 2020, you will not be permitted to re-contribute any excess to your RRIF. Read more here.