Retirement Income Calculator

Use this calculator to find out how long funds in a Registered Retirement Income Fund will last.

Type of plan funds are coming from

Pension jurisdiction

Type of plan funds are going to

Date of birth

Month

Day

Year

Retirement date

Month

Day

Year

Province of residence

Use spouse's date of birth for income payment calculation?

Spouse's date of birth

Month

Day

Year

Type of plan funds are coming from

Pension jurisdiction

Type of plan funds are going to

Reset Continue

Your deposit

How much is in your account now?

Rate of return up to purchase date

Monthly contribution amount until the purchase date

Rate of return after purchase date

Percentage to unlock:

Total deposit:

00,000,000

$

Total deposit

Before unlocking: $00,000,000

After unlocking: $00,000,000

Withdrawal Details

Payment frequency

Annually

Payment start date

Month

Day

Year

Payment options

Minimum Customize

Withholding tax options

Minimum tax Customize

Your deposit

How much is in your account now?

Monthly contribution amount until the purchase date

Percentage to unlock

Rate of return up to purchase date

Rate of return after purchase date

Total deposit:

$

00,000,000

Total deposit:

Before unlocking: $$ 00,000,000

After unlocking: $00,000,000

Back

Your yearly income over time

Enlarge graph View table

Save to PDF

Customize Report

Email Results

Back

Path connecting current plan to new plan

Your yearly income over time

Enlarge graph View table

Print Preview

Save to PDF

Customize Report

Email Results

PDF generation in progress....

Your yearly income over time

Age	Gross payment
2019	59

May - 12th - 2015

Retirement Income Calculator

Created for:

Jane Smith

Scenario:

scenario-1

Created by:

John Smith

Manulife Financial

JohnSmith@manulifefinancial.com

(555)-555-5555

Member Details

Current age 55 Years
Purchase date 05-12-2015
Province of residence Alberta
Spouse's age used for income payment calculation 55 yrs

Fund Information

Type of plan the money is coming from Locked-in LIRA
Pension jurisdiction Alberta
Type of plan the money is going to LIF

Account the money is from

Current value $ 20,000
Projected value when you retire $ 20,000

To find out how we got this value, see the section "Projected account value" below.

About estimated growth rate of the account

Rate of return up to purchase date 2.50%
Rate of return after purchase date 1.50%

© 2023 The Manufacturers Life Insurance Company. All Rights Reserved. Under no circumstances should you regard any information provided in this calculator as financial, legal, or tax advice. We recommend you review your retirement plan periodically and consult your financial advisor before acting on any information provided within. The calculations used by this tool are based on tax and pension legislation effective as of March 31, 2023.

Page 1 of 1

Retirement Income Calculator

About locked-in money and unlocking (LIF only)

Total deposit when you retire (before unlocking) $ 30,000
Percentage of money to unlock when you retire: 1.50%
Total deposit when you retire (after unlocking) $ 50,000

Note:
Total deposit (After unlocking): This amount doesn’t include the money you plan to unlock. If you want to see the income you might get from that unlocked money, you’ll need to create a separate illustration.

Withdrawal details

Payment frequency Semi-annually
Payment start date 00-00-2000

Payment options

Minimum
Maximum (only for LIFs, LRIFs and RLIFs)
Level Amount (for the payment frequency term selected) $10,000
Years to deplete funds (only for RRIFs and PRIFs) 99 Years

Withholding tax options

Minimum tax
Client-specific tax rate 10%

Page 1 of 1

Retirement Income Calculator

Projected account value

Projection starts
Date the projection is ending (at retirement)
Estimated annual growth rate up to
Account balance when projection starts
Monthly contribution until you retire

This table shows how your account may grow from today until the date you move your money to your new plan.

Date	Age	Yearly contribution	Yearly earnings	Account balance
11/11/2011	22	3333	3333	4444

There may be limits on how much you contribute each year. Make sure that your projection isn't based on you contributing too much. To find out about contribution limits, check your plan documents or with the Canada Revenue Agency (CRA).

When we made these projections, we assumed that

monthly contributions happen on the last day of the month -- even if the projection starts on the last day of the month too.
the date you retire is the same day you move your money to the new plan.

Page 1 of 1

Retirement Income Calculator

Date	Age	Yearly contribution	Yearly earnings	Account balance
11/11/2011	22	3333	3333	4444

When we made these projections, we assumed that

monthly contributions happen on the last day of the month -- even if the projection starts on the last day of the month too.
the date you retire is the same day you move your money to the new plan.

Page 1 of 1

Retirement Income Calculator

Payment schedule

		Payment Details by			Annual Payment Summary			Plan Details
Year	Age at Jan 1	Gross payment	Tax withheld	Net payment	Gross payment	Plan minimum	Plan maximum	Yearly earnings	Year end plan value
0000	55	$123123	$123123	$123123	$123123	$123123	$123123	$123123	$123123

Important notes about this illustration:
Values provided in this calculator are for illustrative purposes only and use the estimated annual growth rates provided. The rates and dollar figures shown are not guaranteed. Actual account values may vary and retirement savings may last for longer or shorter periods, depending on your investment selections and returns.
This illustration assumes all information provided complies with applicable legislation.
All values are calculated using an annual compounded growth rate.
The minimum withholding tax rates as prescribed by the Income Tax Act have been used for the retirement income calculator, unless the client specific tax rate has been selected.
Minimums and maximums shown in the retirement income calculator may be subject to change in future years in accordance with applicable legislation.

Page 1 of 1

Retirement Income Calculator

		Payment Details by			Annual Payment Summary			Plan Details
Year	Age at Jan 1	Gross payment	Tax withheld	Net payment	Gross payment	Plan minimum	Plan maximum	Yearly earnings	Year end plan value
0000	55	$123123	$123123	$123123	$123123	$123123	$123123	$123123	$123123

Important notes about this illustration:
Values provided in this calculator are for illustrative purposes only and use the estimated annual growth rates provided. The rates and dollar figures shown are not guaranteed. Actual account values may vary and retirement savings may last for longer or shorter periods, depending on your investment selections and returns.
This illustration assumes all information provided complies with applicable legislation.
All values are calculated using an annual compounded growth rate.
The minimum withholding tax rates as prescribed by the Income Tax Act have been used for the retirement income calculator, unless the client specific tax rate has been selected.
Minimums and maximums shown in the retirement income calculator may be subject to change in future years in accordance with applicable legislation.

Page 1 of 1

Save to PDF Print

October 11th, 2019

Created for:

Jane Smith

Scenario:

scenario-1

Created by:

John Smith

Manulife Financial

JohnSmith@manulifefinancial.com

(555)-555-5555

Retirement Income Calculator

Member Details

Current age

Purchase date

Province of residence

Spouse's age used for income payment calculation

Fund Information

Type of plan the money is coming from

Pension jurisdiction

Type of plan the money is going to

Account the money is from

Current value

To find out how we got this value, see the section "Projected account value" below.

About estimated growth rate of the account

Rate of return up to purchase date

Rate of return after purchase date

Page 1 of 1

Retirement Income Calculator

About locked-in money and unlocking (LIF only)

Total deposit when you retire (before unlocking)

Percentage of money to unlock when you retire

Total deposit when you retire (after unlocking)

Note:

Total Deposit Amount (after unlocking): This amount doesn't include the money you plan to unlock. If you want to see the income you might get from that unlocked money, you'll need to create a separate illustration.

Withdrawal details

Payment frequency

Payment start date

Payment options

Minimum

Maximum (only for LIFs, LRIFs and RLIFs)

Level Amount (for the payment frequency term selected)

Years to deplete funds (only for RRIFs and PRIFs)

Withholding tax options

Minimum

Client-specific tax rate

Page 1 of 1

Retirement Income Calculator

Projected account value

Projection starts

Date the projection is ending (at retirement)

Estimated annual growth rate up to

Account balance when projection starts

Monthly contribution until you retire

This table shows how your account may grow from today until the date you move your money to your new plan.

Date	Age	Yearly contribution	Yearly earnings	Account balance
11/11/2011	22	3333	3333	4444

When we made these projections, we assumed that

- monthly contributions happen on the last day of the month -- even if the projection starts on the last day of the month too.
- the date you retire is the same day you move your money to the new plan.

Page 1 of 1

Retirement Income Calculator

Date	Age	Yearly contribution	Yearly earnings	Account balance
11/11/2011	22	3333	3333	4444

When we made these projections, we assumed that

- monthly contributions happen on the last day of the month -- even if the projection starts on the last day of the month too.
- the date you retire is the same day you move your money to the new plan.

Page 1 of 1

Retirement Income Calculator

Payment schedule


		Payment Details by			Annual Payment Summary			Plan Details
Year	Age at Jan 1	Gross payment	Tax withheld	Net payment	Gross payment	Plan minimum	Plan maximum	Yearly earnings	Year end plan value
2019	59	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00

Page 1 of 1

Retirement Income Calculator


		Payment Details by			Annual Payment Summary			Plan Details
Year	Age at Jan 1	Gross payment	Tax withheld	Net payment	Gross payment	Plan minimum	Plan maximum	Yearly earnings	Year end plan value

Important notes about this illustration: Values provided in this calculator are for illustrative purposes only and use the estimated annual growth rates provided. The rates and dollar figures shown are not guaranteed. Actual account values may vary and retirement savings may last for longer or shorter periods, depending on your investment selections and returns. This illustration assumes all information provided complies with applicable legislation. All values are calculated using an annual compounded growth rate. The minimum withholding tax rates as prescribed by the Income Tax Act have been used for the retirement income calculator, unless the client specific tax rate has been selected. Minimums and maximums shown in the retirement income calculator may be subject to change in future years in accordance with applicable legislation.

Page 1 of 1

Retirement Income Calculator

Your deposit

Total deposit:

00,000,000

$

Total deposit

Before unlocking: $00,000,000

After unlocking: $00,000,000

Withdrawal Details

Your deposit

Total deposit:

$

00,000,000

Total deposit:

Before unlocking: $$ 00,000,000

After unlocking: $00,000,000

Your yearly income over time

Your yearly income over time

Payment Options

Withdrawal Options

Withholding Tax Options

Report Customization

Customize your report:

Created by:

Enlarged chart of yearly income

Percentage to unlock

Print Preview

Retirement Income Calculator

Member Details

Fund Information

Account the money is from

About estimated growth rate of the account

Retirement Income Calculator

About locked-in money and unlocking (LIF only)

Withdrawal details

Payment options

Withholding tax options

Retirement Income Calculator

Projected account value

Retirement Income Calculator

Retirement Income Calculator

Payment schedule

Retirement Income Calculator

Assumptions

Disclaimer

Retirement Income Calculator

Member Details

Fund Information

Account the money is from

About estimated growth rate of the account

Retirement Income Calculator

About locked-in money and unlocking (LIF only)

Withdrawal details

Payment options

Withholding tax options

Retirement Income Calculator

Projected account value

Retirement Income Calculator

Retirement Income Calculator

Payment schedule

Retirement Income Calculator