Retirement Calculator
CanadaCanadian retirement planner: project your savings at retirement and income from withdrawals plus optional CPP/OAS. Set your target income (dollar amount or % of current) and see if your projected balance meets the required amount.
Used for withdrawal period and required balance
e.g. 4% rule
Income at retirement
CPP/OAS and drawdown indexed at 3%/year.
| Year | Start balance | Contribution | Growth | End balance |
|---|---|---|---|---|
| Start | CA$100,000 | CA$0 | CA$0 | CA$100,000 |
| 1 | CA$100,000 | CA$10,000 | CA$6,000 | CA$116,000 |
| 2 | CA$116,000 | CA$10,300 | CA$6,960 | CA$133,260 |
| 3 | CA$133,260 | CA$10,609 | CA$7,996 | CA$151,865 |
| 4 | CA$151,865 | CA$10,927 | CA$9,112 | CA$171,904 |
| 5 | CA$171,904 | CA$11,255 | CA$10,314 | CA$193,473 |
| 6 | CA$193,473 | CA$11,593 | CA$11,608 | CA$216,674 |
| 7 | CA$216,674 | CA$11,941 | CA$13,000 | CA$241,615 |
| 8 | CA$241,615 | CA$12,299 | CA$14,497 | CA$268,411 |
| 9 | CA$268,411 | CA$12,668 | CA$16,105 | CA$297,183 |
| 10 | CA$297,183 | CA$13,048 | CA$17,831 | CA$328,062 |
| 11 | CA$328,062 | CA$13,439 | CA$19,684 | CA$361,185 |
| 12 | CA$361,185 | CA$13,842 | CA$21,671 | CA$396,698 |
| 13 | CA$396,698 | CA$14,258 | CA$23,802 | CA$434,758 |
| 14 | CA$434,758 | CA$14,685 | CA$26,085 | CA$475,528 |
| 15 | CA$475,528 | CA$15,126 | CA$28,532 | CA$519,186 |
| 16 | CA$519,186 | CA$15,580 | CA$31,151 | CA$565,917 |
| 17 | CA$565,917 | CA$16,047 | CA$33,955 | CA$615,919 |
| 18 | CA$615,919 | CA$16,528 | CA$36,955 | CA$669,403 |
| 19 | CA$669,403 | CA$17,024 | CA$40,164 | CA$726,591 |
| 20 | CA$726,591 | CA$17,535 | CA$43,595 | CA$787,722 |
| 21 | CA$787,722 | CA$18,061 | CA$47,263 | CA$853,046 |
| 22 | CA$853,046 | CA$18,603 | CA$51,183 | CA$922,832 |
| 23 | CA$922,832 | CA$19,161 | CA$55,370 | CA$997,363 |
| 24 | CA$997,363 | CA$19,736 | CA$59,842 | CA$1,076,940 |
| 25 | CA$1,076,940 | CA$20,328 | CA$64,616 | CA$1,161,885 |
For illustration only. Projections depend on return and contribution assumptions. CPP/OAS are estimates; use the CPP/OAS estimator for more detail. This is not financial advice.
About this calculator
This Canadian retirement calculator projects your savings at retirement and your income in drawdown. You enter current age, retirement age, savings, contributions, and a target income; we project growth to retirement and optionally include CPP and OAS estimates. You can see whether your projected balance meets the amount needed to fund your target income to life expectancy.
Use it to test different contribution levels, retirement ages, or target incomes. Optional settings include income increase (contribution growth), inflation (real dollars), and tax. CPP/OAS are estimated; use our CPP/OAS estimator for detailed benefits. Results are for illustration only and do not constitute financial advice.
How this is calculated
Savings projection
Your balance at retirement is projected using compound growth: we grow your current savings and annual contributions at the expected return each year until retirement age. The same formula as the Investment Calculator (annual contributions, end-of-period).
Life expectancy and withdrawal period
Years in retirement = life expectancy − retirement age. This is how long your savings need to last. We use it to compute the required balance at retirement: the lump sum needed to fund your target income for that many years, assuming your portfolio continues to earn the same return (present value of an annuity):
Required balance = Target income × (1 − (1 + r)−n) / r
where r is the expected return (decimal) and n is years in retirement. We compare this to your projected balance to show any shortfall or surplus.
Withdrawal rate
Income from savings = balance at retirement × withdrawal rate. A common rule of thumb is the 4% rule: withdraw 4% of the portfolio per year (often cited for ~30-year horizons). You can change the rate to see a more conservative or aggressive withdrawal.
CPP and OAS
CPP is estimated from your career income and start age (60–70). OAS is estimated using 2026 rules and includes the OAS clawback when other income (savings withdrawal + CPP) exceeds the threshold. In the balance-by-age chart and drawdown, CPP and OAS are indexed with inflation each year (same as the inflation rate you enter). For detailed CPP/OAS numbers, use our CPP/OAS estimator.
Tax and drawdown
Estimated tax applies your entered rate to total retirement income (savings withdrawal + CPP + OAS); it is for illustration only. The drawdown phase (balance by age after retirement) assumes you withdraw enough from the portfolio each year so that portfolio + CPP + OAS (all indexed with inflation) match your target income; the remaining balance grows at your expected return.
Assumptions
Income increase: When set above 0, your annual contribution is assumed to grow by this rate each year (e.g. 3%/year). Income needed after retirement: You can set a target as a dollar amount or as a percentage of current income (e.g. 75%). Average investment return: Used for both the accumulation phase and, with inflation, the real return when comparing required vs projected balance. Inflation rate: When set above 0, we use a real (inflation-adjusted) rate for the required balance and show projected balance in today's dollars so the comparison is in constant purchasing power. CPP/OAS rules and thresholds may change. Results are for illustration only and do not constitute financial advice.
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