Retirement Calculator Canada
See what your retirement income will actually be starting with what the government already provides, then adding your savings on top.
Most retirement calculators model your savings alone and hand you an intimidating number. That's the wrong way round. Canada has an indexed, guaranteed income floor, and for a lot of people it covers more than they expect.
Retirement Calculator Canada
$6,788 / month available
Target monthly income: $4,500 (+$2,288 surplus)
$1,188,831
In 30 years
$6,788
Includes $1500 CPP + OAS
Age 90+
Planned up to age 90
Canada Pension Plan (CPP) and Old Age Security (OAS) benefits are indexed to inflation annually. RRSP, TFSA, and registered pension drawdown calculations incorporate real post-retirement investment returns adjusted for Bank of Canada inflation target assumptions.
What This Calculator Assumes
A retirement projection runs decades. Nobody can forecast that, and small assumption changes produce large differences so here is what sits behind the number above.
Results default to today's dollars. A projection showing "$1.2 million at 65" in nominal terms tells you almost nothing about what it buys. We adjust for inflation by default and let you switch.
The specific assumptions:
- Contributions are constant in real terms until retirement
- Returns compound annually and don't vary year to year real returns do, and sequence matters most in early retirement
- Government benefits are indexed
- CPP defaults to a realistic estimate, not the maximum. Most retirees receive well under the maximum
- Tax applies at your province's rates on taxable income only
What You Get Before You Touch Your Savings
Start here, because most retirement content doesn't. Canada has a three part public retirement system, and two of its parts don't depend on savings at all.
A single senior with no other income receives roughly $1,875 a month about $22,500 a year from OAS and GIS combined. Indexed, guaranteed, for life.
| Situation | Approximate annual income before savings |
|---|---|
| Single, no savings, no CPP | ~$22,500 (OAS + GIS) |
| Single, maximum CPP | ~$27,000 (CPP + OAS) |
| Couple, both maximum CPP | ~$54,000 |
CPP and QPP
The Canada Pension Plan is contributory what you get depends on what you paid in and for how long. In Quebec, the Quebec Pension Plan applies instead, administered by Retraite Québec.
The maximum CPP at age 65 in 2026 is $1,507.65 a month $18,091.80 a year. Most people receive considerably less. Get your actual number from My Service Canada Account.
| Start age | Effect |
|---|---|
| 60 | Reduced 0.6%/mo (36% less than at 65) |
| 65 | Standard amount |
| 70 | Increased 0.7%/mo (42% more than at 65) |
Old Age Security
OAS is residency based, not contributory. You don't pay into it eligibility depends on how long you've lived in Canada after 18.
| Threshold | What it governs |
|---|---|
| $93,454 | OAS payments July 2026 to June 2027 (assessed on 2025 income) |
| $95,323 | The 2026 income year affecting payments July 2027 to June 2028 |
The Guaranteed Income Supplement
GIS is a non taxable monthly top up for lower income seniors receiving OAS.
| Situation | Maximum monthly |
|---|---|
| Single, widowed or divorced | $1,123.17 |
| Couple, both receiving OAS | $676.09 each |
| Couple, partner not receiving OAS | $1,123.17 |
| Allowance (spouse aged 60 to 64) | up to $1,428.06 |
RRSPs, RRIFs and Minimum Withdrawals
You must convert your RRSP by 31 December of the year you turn 71 into a RRIF, an annuity, or a full withdrawal.
| Age | Minimum factor | On a $500,000 RRIF |
|---|---|---|
| 71 | 5.28% | $26,400 |
| 72 | 5.40% | $27,000 |
| 80 | 6.82% | $34,100 |
| 85 | 8.51% | $42,550 |
| 95+ | 20.00% | $100,000 |
Why Use the CalcVault Retirement Calculator
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Sources and Disclaimer
Sources: Service Canada / ESDC (CPP, OAS, GIS, Allowance rates), Canada Revenue Agency (OAS recovery tax, RRIF minimum factors), Retraite Québec (QPP).
Limitations: This is an estimate, not a plan. It can't know your actual CPP entitlement or health costs.
Disclaimer: CalcVault is not a financial planner or government body. This calculator and content are general information only and do not constitute retirement advice.