If you are under 71, and have both a Registered Retirement Savings Plan (RRSP) and a Registered Retirement Income Fund (RRIF), you will pay tax on the withdrawals from the RRSP and separate taxes excess amounts over the minimum withdrawals from your RRIF.
The current tax rates on RRSP withdrawals are between 10% and 30% depending on how much you take out. Find out more about RRSP withdrawals.
You can open a RRIF anytime, but no later than the end of the year you turn 71. You have to start withdrawing money from your RRIF in the year after you open it, based on a percentage of the value of your RRIF. The percentages based on age are listed in this article about withdrawals from your RRIF.
Speak to your registered financial advisor or a tax professional to learn more about the tax implications of withdrawing from your RRSP and/or RRIF.