Retirement AtlasA clearer view of retirement.

Canada · CAD · Pension guide

Canada retirement calculator

Combine personal CPP or QPP, OAS and employer pension estimates with accessible savings. See which years need the largest withdrawals in Canadian dollars.

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What can this calculator estimate?

It compares spending, manually entered pensions and accessible savings in CAD, in today's purchasing power.

Use your own after-tax pension estimate. Read the full example

Compare invented scenarios. Amounts are not forecasts or entitlement calculations.

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Read the assumptions

02Your retirement, in view

Today's money

Worked example. Change the inputs to explore your plan.

From age 65 to 66 · 12 modelled months · CAD

12-month retirement spending estimate

CA$34,002

After tax · today's money

Average per monthCA$2,833
Income you entered
+ CA$0
From savings or pension pot
+ CA$34,002

A level budget through age 95 under your assumptions. It can use up savings and leaves no inheritance reserve. Review each year; this is not a guaranteed spending amount.

See the 12-month breakdown

Rounded monthly averages, not actual payment dates. Income above this budget is not reinvested.

From age 65 to 66 · 12 modelled months. After tax · today's money.
MonthIncome you enteredFrom savings or pension potSpending budgetSavings left
1CA$0CA$2,833CA$2,833CA$770,919
2CA$0CA$2,833CA$2,833CA$769,334
3CA$0CA$2,833CA$2,833CA$767,746
4CA$0CA$2,833CA$2,833CA$766,156
5CA$0CA$2,833CA$2,833CA$764,564
6CA$0CA$2,833CA$2,833CA$762,968
7CA$0CA$2,833CA$2,833CA$761,370
8CA$0CA$2,833CA$2,833CA$759,770
9CA$0CA$2,833CA$2,833CA$758,167
10CA$0CA$2,833CA$2,833CA$756,561
11CA$0CA$2,833CA$2,833CA$754,953
12CA$0CA$2,833CA$2,833CA$753,342

Savings left after 12 months: CA$753,342

How this budget is calculated ↗

The projection below follows your entered spending or withdrawal plan; this budget is a separate estimate.

Accessible savings at retirement · 65

CA$772,501

Today's money · After tax, in today's money.

Monthly gap · first retirement yearCA$3,500
Savings needed at retirementCA$954,213
Additional savings neededCA$181,711

At retirement, under these assumptions. This is not an extra monthly contribution.

Your accessible savings over time

Today's money
Your accessible savings over time · CADThe annual table below contains the same projection.0193.1k386.3k579.4k772.5k4558708395
Projected savings balance · CADRetirement · 65

The first spending shortfall appears around age 87.8. Later pension payments may change the gap.

Pensions are set to zero. Add your estimates to include them.

See the year-by-year breakdown
All amounts after tax, in today's money. Age is at year end. Pension surplus is not reinvested.
Age at year endPhaseSavings addedReal growthPension incomeSavings withdrawnUnfunded spendingSavings left
46SavingCA$10,500CA$6,957CA$0CA$0CA$0CA$367,457
47SavingCA$10,500CA$7,299CA$0CA$0CA$0CA$385,256
48SavingCA$10,500CA$7,648CA$0CA$0CA$0CA$403,404
49SavingCA$10,500CA$8,004CA$0CA$0CA$0CA$421,908
50SavingCA$10,500CA$8,367CA$0CA$0CA$0CA$440,775
51SavingCA$10,500CA$8,737CA$0CA$0CA$0CA$460,011
52SavingCA$10,500CA$9,114CA$0CA$0CA$0CA$479,625
53SavingCA$10,500CA$9,498CA$0CA$0CA$0CA$499,624
54SavingCA$10,500CA$9,891CA$0CA$0CA$0CA$520,014
55SavingCA$10,500CA$10,290CA$0CA$0CA$0CA$540,804
56SavingCA$10,500CA$10,698CA$0CA$0CA$0CA$562,003
57SavingCA$10,500CA$11,114CA$0CA$0CA$0CA$583,616
58SavingCA$10,500CA$11,537CA$0CA$0CA$0CA$605,654
59SavingCA$10,500CA$11,970CA$0CA$0CA$0CA$628,123
60SavingCA$10,500CA$12,410CA$0CA$0CA$0CA$651,033
61SavingCA$10,500CA$12,859CA$0CA$0CA$0CA$674,393
62SavingCA$10,500CA$13,317CA$0CA$0CA$0CA$698,210
63SavingCA$10,500CA$13,784CA$0CA$0CA$0CA$722,495
64SavingCA$10,500CA$14,261CA$0CA$0CA$0CA$747,255
65SavingCA$10,500CA$14,746CA$0CA$0CA$0CA$772,501
66RetirementCA$0CA$14,771CA$0CA$42,000CA$0CA$745,272
67RetirementCA$0CA$14,237CA$0CA$42,000CA$0CA$717,509
68RetirementCA$0CA$13,693CA$0CA$42,000CA$0CA$689,202
69RetirementCA$0CA$13,138CA$0CA$42,000CA$0CA$660,340
70RetirementCA$0CA$12,572CA$0CA$42,000CA$0CA$630,911
71RetirementCA$0CA$11,995CA$0CA$42,000CA$0CA$600,906
72RetirementCA$0CA$11,406CA$0CA$42,000CA$0CA$570,313
73RetirementCA$0CA$10,806CA$0CA$42,000CA$0CA$539,119
74RetirementCA$0CA$10,195CA$0CA$42,000CA$0CA$507,314
75RetirementCA$0CA$9,571CA$0CA$42,000CA$0CA$474,885
76RetirementCA$0CA$8,935CA$0CA$42,000CA$0CA$441,820
77RetirementCA$0CA$8,287CA$0CA$42,000CA$0CA$408,107
78RetirementCA$0CA$7,626CA$0CA$42,000CA$0CA$373,733
79RetirementCA$0CA$6,952CA$0CA$42,000CA$0CA$338,685
80RetirementCA$0CA$6,265CA$0CA$42,000CA$0CA$302,950
81RetirementCA$0CA$5,564CA$0CA$42,000CA$0CA$266,514
82RetirementCA$0CA$4,850CA$0CA$42,000CA$0CA$229,364
83RetirementCA$0CA$4,121CA$0CA$42,000CA$0CA$191,485
84RetirementCA$0CA$3,378CA$0CA$42,000CA$0CA$152,863
85RetirementCA$0CA$2,621CA$0CA$42,000CA$0CA$113,485
86RetirementCA$0CA$1,849CA$0CA$42,000CA$0CA$73,334
87RetirementCA$0CA$1,062CA$0CA$42,000CA$0CA$32,396
88RetirementCA$0CA$272CA$0CA$32,668CA$9,332CA$0
89RetirementCA$0CA$0CA$0CA$0CA$42,000CA$0
90RetirementCA$0CA$0CA$0CA$0CA$42,000CA$0
91RetirementCA$0CA$0CA$0CA$0CA$42,000CA$0
92RetirementCA$0CA$0CA$0CA$0CA$42,000CA$0
93RetirementCA$0CA$0CA$0CA$0CA$42,000CA$0
94RetirementCA$0CA$0CA$0CA$0CA$42,000CA$0
95RetirementCA$0CA$0CA$0CA$0CA$42,000CA$0

Educational estimates. Not personal financial advice. Manual pension amounts. No eligibility, tax calculation or future benefit reassessment. This model assumes steady returns and is not a probability of success.

A two-year bridge before pension income

Our worked example separates the years before an entered pension begins from the years after it starts. Every amount and age is invented. It is a calculation illustration, not a typical pension, an entitlement estimate or a recommended retirement age. CPP, QPP and OAS are not automatically recalculated. Obtain a new official estimate when changing a benefit start date.

Read the full example
Understand the pension system

Canada

Common questions

Does this calculate OAS recovery tax or GIS?

No. Taxes and income-tested benefits are not reassessed when savings withdrawals change. Use an appropriate net benefit estimate and review it separately.

Which money can I count as savings?

Include only capital you can draw on for this plan, after allowing for access restrictions and taxes outside the model. Exclude property you will not sell and assets already used to fund an entered pension payment. Future lump sums are not modelled.

Do pension payments keep pace with inflation?

The illustration holds payments constant in today's purchasing power. Your actual pension may have different increases, caps or no indexation. Test a lower real payment as a separate scenario if needed; this tool does not forecast those rules.

Are my financial inputs stored?

Your figures are calculated in your browser. They are not uploaded or saved in the address bar. Only public, invented example identifiers appear in example links. CSV exports are created on your device.

Methodology · 1.0

Methodology

12-month retirement spending estimate

Already retired? Set the stop-work age equal to your current age to estimate the next 12 months. Otherwise the estimate starts at your chosen retirement age.

Rounded monthly averages, not actual payment dates. Income above this budget is not reinvested.

How this budget is calculated ↗

One consistent money basis

All inputs and results use today's purchasing power. Enter net pension payments and spending after tax. The net return is nominal, after investment taxes and fees. Monthly real growth factor = ((1 + net return / 100) / (1 + inflation / 100))^(1/12). Savings contributions remain constant in real terms and arrive at month-end until retirement.

How the income gap is funded

From retirement, the monthly gap is max(0, spending − active pension payments). Savings grow first, then a month-end withdrawal funds the gap up to the available balance. Excess pension income is not reinvested. The capital needed at retirement is the sum of these future gaps discounted at the monthly real return; no future pension is borrowed against.

What the estimate leaves out

Amounts stay constant in real terms: the model assumes payments keep pace with inflation, which your actual pension may not do. Ages use whole years; no calendar dates, pension accrual, changing taxes, benefit offsets, future lump sums, market volatility or inheritance target are modelled. Income before your entered retirement age is excluded. Changing a start age does not recalculate the payment amount. Only combine streams that share the same dates.

Official sources & pension overviews

Sources checked . Manual pension amounts. No eligibility, tax calculation or future benefit reassessment. This model assumes steady returns and is not a probability of success.

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