Canadian Retirement Income Calculator

Project your retirement income from various sources and estimate your tax burden during retirement.

Personal Information

Current Age

18 40 75

Planned Retirement Age

50 65 75

Life Expectancy

75 90 100

Current Annual Income ($)

Desired Income Replacement (%)

50% 70% 100%

Province of Residence

Government Benefits

CPP Start Age

Expected CPP Entitlement (% of Maximum)

0% 70% 100%

OAS Start Age

Retirement Savings

Current RRSP Balance ($)

Annual RRSP Contribution ($)

Current TFSA Balance ($)

Annual TFSA Contribution ($)

Current Non-Registered Savings ($)

Annual Non-Registered Contribution ($)

Pension & Other Income

I have an employer pension

Other Annual Income in Retirement ($)

Investment Assumptions

Expected Inflation Rate (%)

1% 2% 5%

Investment Return Rate (%)

2% 5% 10%

Annual Withdrawal Rate in Retirement (%)

2% 4% 8%

Your Retirement Income Projections

Retirement Duration

25 years

Savings at Retirement

$750,000

Average Monthly Income

$5,200

Replacement Rate

68%

Age	Before-Tax Income	After-Tax Income	Target Income	Surplus/Shortfall

Income Source	Early Retirement	Mid Retirement	Late Retirement	Lifetime %

Age	Total Income	Federal Tax	Provincial Tax	Total Tax	Avg Tax Rate

💡

Tax Optimization Tips

Based on your projections, consider optimizing your RRSP/TFSA withdrawal strategy to minimize lifetime tax burden. TFSA withdrawals can help manage your taxable income in high-income years.

⚠️

Important Notes

Your projected retirement income may experience a shortfall in later years. Consider increasing your savings rate or adjusting your retirement age to improve sustainability.