Investing

Retirement Calculator

Estimate annual retirement income by retirement age after 65, with a simple CPP, OAS, pension, and portfolio breakdown.

Before you calculate

Use this as a planning estimate, not a final answer.

Start with realistic Canadian numbers, then test a cautious case and an optimistic case. The result depends on the assumptions you enter, current rates, province-specific rules, and your personal situation.

Main assumptions

Inputs are editable and should be updated with your real income, rates, province, fees, or account limits. Calculations are simplified and may not include every tax credit, lender rule, fee, eligibility condition, or timing detail. Verify official numbers before acting. This tool is educational and is not financial, tax, legal, mortgage, or investment advice.

Basics

Current ageiEnter your age today.

years

Current annual employment incomeiUse before-tax career income to estimate CPP exposure and savings capacity.

Annual career income growthiEstimate how your employment income may grow before retirement.

Current retirement savingsiInclude RRSPs, TFSAs, workplace plans, and other retirement investments you want counted.

Monthly retirement contributionsiEnter what you can invest each month until retirement.

Retirement goal

Target annual retirement incomeiUse today's dollars for the yearly income you want in retirement.

Expected annual return before retirementiUse a conservative long-term assumption. Returns are not guaranteed.

Planning withdrawal rateiA simple rule-of-thumb rate used to estimate how large the portfolio needs to be.

Retirement income

Expected CPP share of maximumiUse 100 if you expect a long career near or above the CPP maximum, or lower for shorter/lower-income work histories.

Adult years in Canada by 65iOAS usually depends on years of residence in Canada after age 18. Use 40 for full basic OAS.

years

Monthly workplace or other pension incomeiInclude defined benefit pensions, annuities, or other reliable monthly retirement income.

Estimated annual income at age 65

$60,188

CPP and OAS are simplified estimates. For CPP, use your Service Canada statement when possible; OAS depends on residence years and possible recovery tax at higher income.

Investment growth over time

Retirement savings path

This models savings from age 35 to 70, then compares CPP, OAS, pension, and portfolio income for each retirement age from 65 to 70.

Projected final value

$950,772

Total value (contributions + growth) Growth earned Total contributions

Total contributions

$312,000

Total growth earned

$638,772

Average monthly contribution

$700

Retire at 65

$60,188 / year

CPP $13,241 + OAS $8,917 + pension $0 + portfolio $38,031.

Retire at 66

$64,432 / year

CPP $14,353 + OAS $9,559 + pension $0 + portfolio $40,521.

Retire at 67

$68,817 / year

CPP $15,465 + OAS $10,201 + pension $0 + portfolio $43,151.

Retire at 68

$73,350 / year

CPP $16,578 + OAS $10,843 + pension $0 + portfolio $45,930.

Retire at 69

$78,039 / year

CPP $17,690 + OAS $11,485 + pension $0 + portfolio $48,865.

Retire at 70

$82,895 / year

CPP $18,802 + OAS $12,127 + pension $0 + portfolio $51,966.

First age meeting target65

Target annual retirement income$54,000

CPP at selected age$13,241

OAS at selected age$8,917

Portfolio income at selected age$38,031

Monthly contributions$700

Estimate only. This tool is for informational purposes and does not replace professional financial, tax, legal, mortgage, or immigration advice. Always verify official figures before making decisions.

How retirement age is estimated

This calculator compares your projected portfolio with the portfolio needed to support the spending not covered by CPP, OAS, workplace pensions, or other reliable retirement income.

Retirement spending target

Monthly retirement spending is reduced by expected monthly retirement income, then the remaining annual amount is divided by the planning withdrawal rate.

Canadian retirement accounts

RRSPs, TFSAs, workplace pensions, CPP, OAS, and taxable accounts can all affect retirement readiness.

Frequently asked questions

Does this guarantee I can retire at that age?+

No. This is only a planning model. Returns, inflation, taxes, CPP/OAS, pensions, fees, and spending can all change the result.

What withdrawal rate should I use?+

A lower withdrawal rate is more conservative. The right rate depends on investment mix, taxes, inflation, pension income, and retirement length.

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