Retirement Calculator

Inputs & Assumptions

Enter client details, savings plans, investment assets, benefits, returns, tax settings, and withdrawal preferences.

Personal Information

Year of birth Current age Retirement age Life expectancy Current annual income Province / territory After-Tax Retirement Spending Goal

Savings & Contributions

TFSA annual contribution TFSA contribution starts TFSA contribution ends RRSP annual contribution RRSP contribution starts RRSP contribution ends Other annual savings Other savings starts Other savings ends Windfall / inheritance amount Windfall / inheritance year

Investment Assets

Pensions & Government Benefits

CPP/QPP max monthly at 65 CPP/QPP % of max CPP/QPP start age OAS max monthly OAS % of max DB pension amount DB pension start age DB pension frequency

Return & Inflation Assumptions

Inflation % Equity return % Fixed income return % Withdrawal return after retirement % Non-registered turnover %

Tax & Withdrawal Settings

RRSP to RRIF conversion age Minimum RRIF/LIF withdrawals Withdrawal strategy

Enter assumptions, then click Calculate to view planning results.

Planning Results

Review the projected outcome, accumulation path, retirement income, taxes, withdrawals, and modelling assumptions.

Executive Summary

Assets at retirement $0 Projected investment assets only.

Annual expense gap $0 After-tax spending goal minus after-tax income from investments and benefits.

First-year gross withdrawal $0 Estimated from investment accounts under the selected strategy.

Gross pension/benefit income $0 CPP/QPP, OAS, and DB pension begin only at their modelled start ages.

Shortfall age None First age when projected after-tax income is below the spending goal.

Add details and calculate.

Recommended strategies Run the calculator to see options.

Accumulation Phase

Years until retirement 0 Years remaining before the selected retirement age.

Estimated assets at retirement $0 Projected investment assets before retirement income begins.

Total pre-retirement contributions $0 Planned savings and windfall/inheritance additions before retirement.

Investment growth before retirement $0 Estimated growth before retirement after starting assets and contributions.

Average annual return assumption 0% Weighted average portfolio return before retirement.

Non-registered at retirement $0 Estimated non-registered balance at retirement.

TFSA at retirement $0 Estimated TFSA balance at retirement.

RRSP at retirement $0 Estimated RRSP/RRIF balance at retirement.

DC pension at retirement $0 Estimated DC pension balance at retirement.

Other at retirement $0 Estimated other asset balance at retirement.

Retirement Income Phase

Chart view

Income bars show gross sources stacked by type; the line shows required cashflow: after-tax spending goal plus modelled tax paid.

Tax & Withdrawal Details

DB pension is included with CPP/QPP and OAS. Contribution limits are estimates; verify TFSA and RRSP room with CRA records.

Assumptions & Modelling

Assumptions Disclosure

Current Assumptions & Settings

Ages are modelled as whole-year ages using 2026 as the current year; birth year and current age are linked by simple subtraction.
CPP/QPP is assumed to start at age 65 unless changed. Starting at age 65 applies no actuarial reduction or enhancement.
OAS is modelled from age 65. If retirement begins before CPP/QPP, OAS, or DB pension start ages, those income sources are zero until their modelled start ages.
Projected income, spending goals, contributions, and benefits are generally modelled in nominal dollars and may increase annually with the entered inflation assumptions.

Projection Methodology

Projections use deterministic annual modelling with no market volatility and no intra-year cash-flow timing.
Account balances grow once per projection year before that year's retirement withdrawals are modelled.

Accumulation Phase Assumptions

Existing assets grow once per projection year before that year's TFSA, RRSP, non-registered savings, and any windfall/inheritance amount are added.
If current age is at or above the selected retirement age, the model treats retirement as starting now and suppresses the pre-retirement accumulation phase.
Contributions apply inclusively between the entered start and end years.
Account returns are weighted from the selected allocation and entered equity/fixed-income return assumptions.
Non-registered turnover is assumed to be 0% unless changed in the Assumptions section.
Unrealized capital gains in non-registered accounts are generally not taxed until modelled realization or withdrawal events occur.

Retirement Phase Assumptions

The retirement target is treated as an after-tax retirement spending goal, not gross taxable income.
Taxable withdrawals are estimated and grossed up as needed so modelled after-tax available income can approximate the after-tax retirement spending goal.
The retirement income chart compares gross income sources against required cashflow: after-tax spending goal plus modelled taxes.

Withdrawal Strategy

The selected strategy sets the account order or proportional rule used to estimate withdrawals while applying configured account rules and minimum withdrawals.
Preserve TFSA uses non-registered assets first and TFSA last; proportional withdrawals draw from available accounts by balance.
RRSP/RRIF drawdown before 71 and smooth taxable income use simple pre-RRIF registered/DC draws; minimize current-year tax favours TFSA before taxable withdrawals.

Tax Modelling Limitations

Tax uses simplified 2026 federal and selected provincial tax brackets and basic personal amount credits indexed annually using the model's tax indexing assumption.
Tax rates are not indexed.
Other credits, deductions, surtaxes, OAS clawback, GIS, survivor benefits, and detailed capital gains/dividend treatment are excluded.
Detailed annual taxation of non-registered investment income is not yet modelled.

Display & Rounding

Currency values are rounded to whole dollars for display.
Percentages may be rounded to the displayed precision.