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Withdrawal Calculator
See how a withdrawal from your RRSP can affect your overall retirement savings.
$
years
years
%
$
$
Withdrawing
from your RRSP reduces your retirement savings by
$405
which could be used towards a car.
It also affects your overall contribution room, has tax implications, and results in losing out on tax-sheltered compounding.
which could be used towards a house.
It also affects your overall contribution room, has tax implications, and results in losing out on tax-sheltered compounding.
which could be used towards a trip.
It also affects your overall contribution room, has tax implications, and results in losing out on tax-sheltered compounding.
which could be used towards a retirement property.
It also affects your overall contribution room, has tax implications, and results in losing out on tax-sheltered compounding.
Disclaimer
This calculator is for illustration purposes only. The rates and dollar figures shown are not guaranteed and retirement savings may last for longer or shorter periods, depending on market conditions. It's important to review your retirement plan periodically to ensure you are on track to meet your goals. All withdrawal amounts are subject to plan provisions and/or legislative requirements. Neither Manulife nor any of its agents, employees, or representatives is providing legal, tax, or investment advice with the display of this estimate.
Yearly gross salary before taxes
This is the amount you get paid before taxes and other deductions are subtracted.
- Weekly – 52 pays per year
- Every two weeks – 26 pays per year
- Twice a month – 24 pays per year
- Monthly – 12 pays per year
- Annually – 1 pay per year
Current retirement savings balance
This is the amount of retirement savings you currently have.
Contribution frequency
This is how often you contribute to your retirement savings
- Weekly – 52 pays per year
- Every two weeks – 26 pays per year
- Twice a month – 24 pays per year
- Monthly – 12 pays per year
- Annually – 1 pay per year