Basic
Advanced
The Retirement Calculator provides an estimate of your retirement income.

Have on hand:

    Your investor profile (conservative, moderate, aggressive).
    Your last Notice of Assessment from the Canada Revenue Agency, for unused
    RRSP and TFSA contributions.
    Your statements of investments held elsewhere.

Tips:

    The Advanced version lets you modify default values.
     Click Stop to view all sections at once; Step-by-step shows one page at a time.
     Use the 'What if?' and 'Assumptions' tabs to simulate different financial situations.

Click Get started or view the How-to guide for more details.

Get started
Your projection 
To fully benefit from the projection tool, make sure you access the What If? and Assumptions tabs and keep an eye out for helpful planning suggestions at the bottom of the screen as you move forward. Remember, this tool projects your possible retirement income but cannot offer any guarantees.
 
 
Date of birth:
  
December 30, 1969
  
Province of employment
  
PB
  
Current salary:
$
Investor Profile:
  
Last updated: August 15, 2012
Unused RRSP contributions:
$
Unused TFSA contributions:
$
Pension adjustment (PA):
$
Marginal tax rate:
 
%
Life expectancy:
(asset depletion period of 
25
 years)
Net rate of return:
Before retirement:
%
During retirement:
%
I will retire:
When I Reach age:
On this date:
Planned retirement age:
Desired retirement income:
Based on a replacement ratio of your pre-retirement salary:
 
 
 
Current salary of:
$50,000
Increased at rate of:
%
Subject to inflation rate of:
%
Your pre-retirement salary is:
$
61,971
Your income goal is
% of your pre-retirement salary.

 

(RS100037)
     
Use last 12 months
Use revised amount(s)
Include
Plan
Assets
Annual contributions
RRSP
$ 30,323.34
$ 2,500.00
$
RPP
$ 21,127.77
$ 1,500.00
$

 

Savings/Income
Value
Annual contributions
Registered savings
$
$
Non-registered savings
$
$
Tax-Free Savings Account (TFSA)
$
$
Defined Benefit (DB) pension
$
Other income
$
      
      
Old Age Security

payments will start at retirement.
payments will start on the date of eligibility
payments will start 5 years after eligibility
Admissibility percentage
%


Canada/Quebec Pension Plan
Timing of payments
payments will start at retirement
payments will start at age 65
payments will start at age 70

Calculation basis
calculated based on salary
calculated based on percentage of maximum pension
%

Your goal: $43 379.70

Gap

Your projection: $36,155.69

Income source

Gap
$7,224.01
Other income
$0.00
Personal savings
$3,969.44
Group program
$13,830.12
Government
$18,356.13

Your income goal:
$43,379.70
$36,155.69
$36,155.69
$51,931.28
$27,612.15
Your assumption
Default assumption
Better performing markets
Lesser performing markets
Net rate of return
Before retirement:
 
 
%
5.0%
7.5%
2.5%
During retirement:
5.0%
5.0%
7.5%
2.5%
Retirement age
 
Life expectancy
 
Contributions
$
Contribution allocation
Excess
Registered
$
5,500
$
0.00
TFSA
$
0.00
$
0.00
Non-registered
$
0.00
Reset
Date of birth:
 
December 30, 1969
Investor Profile:
  
 
Current salary:
 $
Unused RRSP contributions:
 $
Unused TFSA contributions:
 $
Marginal tax rate:
   %
Pension adjustment (PA):
 $
Life expectancy:
 
Rate of salary increase:
%
Inflation rate:
%
Government benefits:
  
OAS Timing of payments:
 
 
OAS Admissibility:
%
CPP/QPP Timing of payments:
 
 
Calculation basis:
 
 
Percentage of maximum pension:
%

The projected retirement income of $36,155.69, at age 65, is derived as per the table below. All values represent gross annual amounts and, with the exception of Accumulated assets, all amounts are in today's dollars.
Source
Accumulated assets ($) at age 65
Annual income ($) at age 65
    Group program
  • Pension plan
  • Reg (e.g. RRSP)
  • Non-registered
  • TFSA
  •  
    Bridging
  • 309,746.79
    0.00
  • 0.00
    0.00
  • 0.00
    0.00
  • 309,746.79
    0.00
  •  
     
  • 13,830.12
  • 0.00
  • 0.00
  •  
    13,830.12
    Personal
  • Reg (e.g. RRSP)
  • Non-registered
  • TFSA
  •  
     
  • 88,901.69
    0.00
  • 0.00
    0.00
  • 0.00
    0.00
  • 88,901.69
    0.00
  •  
     
  • 3,969.44
     
  • 0.00
     
  • 0.00
     
  •  
    3,969.44
    Government
  • CPP/QPP
  • OAS
  •  
     
  •  
    0.00
  •  
    0.00
  •  
     
  •  
    0.00
  •  
     
  • 11,816.37
     
  • 6,539.76
     
  •  
     
  •  
    18,356.13
    Other
  • DB pension
  • Other income
  •  
     
  •  
     
  •  
     
  •  
     
  •  
     
  • 0.00
  • 0.00
     
  •  
    0.00
 
  • 398,648.48
    0.00
  •  
    36,155.69
Our suggestions
To reach your retirement income goal, you should increase:
  • your registered contributions from $5,500.00 to 9,545.45, and
  • your contributions to a Tax-Free Savings Account (TFSA) from $0.00 to $16.79, and

Could you save a little more?
If you don't think you can afford to increase your contributions, you may want to take a closer look at your personal budget and spending habits.
You may be surprised at how much you can save by cutting out that expensive latte everyday!
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