Retirement Calculator

Planning Inputs

Move through the inputs, then calculate to review the projection.

The CLARITY Framework™ lens: This tool connects the Cash Flow, Assets, Retirement Readiness, Tax Optimization, and You pillars. Use it to review planning assumptions, not to treat one projection as a guaranteed outcome.

Personal Information

Retirement Time Horizon

These ages set the accumulation period and the retirement income projection period.

Year of birth Current age Retirement age Life expectancy

Planning Context

These fields help estimate contribution room, tax assumptions, and the retirement spending target.

Current annual income Province / territory After-tax retirement spending goal

Savings & Investments

Each main account starts with a beginning balance, receives contributions during the selected years, and grows using its selected investor profile. Contribution-room limits are not validated here.

TFSA

Beginning balance Annual contribution Starts Ends Investor profile

RRSP / RRIF

Beginning balance Annual contribution Starts Ends Investor profile

Non-registered Savings

Taxable investment balance and additional annual savings modelled outside registered accounts.

Beginning balance Annual contribution Starts Ends Investor profile

DC Pension / Group Plan

Beginning balance Employee annual amount Employee % of income % Starts Ends Employer match method Employer match % of income % Employer match amount Investor profile

Other Investment Assets

Beginning balance Investor profile

Windfall or Inheritance

One-time addition to non-registered retirement capital, if applicable.

Amount Year received

Pensions & Government Benefits

CPP/QPP, OAS, and pension entries are user-entered planning estimates. Eligibility, indexing, survivor benefits, clawbacks, and start-age decisions can materially affect real outcomes.

CPP/QPP

Choose how to enter your CPP/QPP estimate. The calculator shows one estimated monthly amount based on the selected method and start age.

Pension type Estimate method Estimated % of maximum % CPP/QPP start age

Estimated monthly amount at start age $0

For % of maximum, this model uses a maximum monthly age-65 amount of $1,507.65. CPP can start from 60 to 70; QPP can start from 60 to 72. This is an educational estimate only.

Old Age Security

OAS estimate before detailed clawback modelling. The residency percentage is a simplified educational estimate and requires source verification against official rules.

Maximum monthly OAS Years resident in Canada after age 18

Estimated OAS eligibility 100%

This model estimates OAS eligibility as years of Canadian residence after age 18 divided by 40, capped at 100%. It is for illustrative and educational purposes only.

Employer Pension

Defined benefit or other pension income that starts at the entered age and frequency.

Pension amount Start age Frequency

Step 1 of 5

Enter assumptions, then click Calculate to view planning results.

Retirement Projection

Start with the answer, then review the numbers and assumptions behind it.

Answer the question

Projection answer

Add details and calculate.

The modelled after-tax spending goal at retirement is $0. Assets at retirement are $0. The first projected shortfall age is None.

The present value of projected shortfalls is $0. The projection uses estimated average annual account withdrawals of $0 and pension or benefit income before tax at retirement of $0.

Projected investment assets only.

Result interpretation Run the calculator to see what the projection suggests under the entered assumptions.

Save or share the projection only after reviewing the assumptions and limitations below.

Essential disclosure

Educational projection only. Results depend on the values entered, simplified tax and benefit modelling, deterministic return assumptions, inflation assumptions, and the selected withdrawal order. It is not financial, tax, legal, investment, pension, estate, insurance, or retirement advice.

Accumulation Phase

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

Registered $0

TFSA $0

Non-registered / other $0

Run the calculator to see the accumulation path before retirement.

Run the calculator to see the projected account balances at retirement.

Retirement Income Phase

Chart view

Bars show pension/benefit income and account withdrawals by source. The line shows the after-tax spending goal plus estimated tax, so it is the modelled before-tax cashflow needed to leave the spending goal after tax.

Show projection data table

Assumptions Used in This Projection

Run the calculator to see the key assumptions used in this projection.

Show disclosure and methodology

How this calculator works

This calculator illustrates how different retirement ages, savings assumptions, pension income sources, and withdrawal patterns can affect long-term retirement sustainability under stated assumptions. Different return assumptions, inflation rates, retirement ages, CPP/QPP timing decisions, and spending levels can be entered to compare how sensitive the projection is to changing conditions.

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. When a turnover rate is entered, the model applies a simplified annual tax drag to positive non-registered growth using a 50% taxable capital-gain inclusion assumption.
Broader planning assets such as a home, cottage, land, and business equity are tracked separately from investment assets and are not treated as spendable retirement capital in this version.
Business equity entries model only equity holdings using user-entered FMV, ACB, and growth assumptions. Operating business income, shareholder remuneration, corporate tax, legal structure, succession planning, transaction costs, and business-owner planning are not modelled.
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 pension/benefit income and account withdrawals against the after-tax spending goal plus estimated taxes.

Withdrawal Order Setting

The selected setting controls 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.
Registered drawdown before 72 uses registered/DC assets first before the modelled minimum-withdrawal start age, normally 72, then returns to the preserve-TFSA order after minimum withdrawals begin. Smooth taxable income uses simple registered/DC draws before that same start age. Minimize current-year tax favours TFSA before taxable withdrawals.
After-tax surplus from pension income, minimum withdrawals, or pre-minimum registered drawdowns is assumed to be saved into non-registered investments rather than spent.

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 dividend treatment are excluded.
Non-registered tax drag is simplified. It does not track adjusted cost base, actual distributions, realized gains by security, capital-loss carryforwards, foreign withholding tax, or personal deduction/credit interactions.

Professional Disclaimer

This calculator uses simplified assumptions and does not provide personalized financial, tax, legal, accounting, investment, retirement, estate, insurance, mortgage, or lending advice.
Actual outcomes may differ because of tax law changes, CPP/QPP and OAS rule changes, market returns, inflation uncertainty, sequence-of-returns risk, longevity uncertainty, health events, and personal circumstances.
Benefit estimates, tax assumptions, account balances, contribution room, and withdrawal rules should be reviewed in any personal planning discussion.

Display & Rounding

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

Help improve this calculator

Did something look wrong, confusing, or incomplete? Your feedback helps improve OpenBook Planning's calculators.

Send feedback

Planning Inputs

Personal Information

Retirement Time Horizon

Planning Context

Savings & Investments

TFSA

RRSP / RRIF

Non-registered Savings

DC Pension / Group Plan

Other Investment Assets

Windfall or Inheritance

Assets

Existing Investments from Savings & Investments

Additional Investment Assets

Broader Planning Assets

Pensions & Government Benefits

CPP/QPP

Old Age Security

Employer Pension

Return & Inflation Assumptions

Tax & Withdrawal Settings

Help improve this calculator