Welcome to the Canadian Retirement Income Calculator.

Introduction

The Government of Canada has developed this calculator to help you plan for retirement. The calculator takes you step by step through an estimate of the ongoing income you may receive throughout your retirement from:

  • Old Age Security (OAS);
  • Canada Pension Plan (CPP) or Quebec Pension Plan (QPP);
  • employer pension(s);
  • Registered Retirement Savings Plans (RRSPs); and
  • other sources of ongoing income.

The Old Age Security program and the Canada Pension Plan (or Quebec Pension Plan) provide a modest secure base on which to build your private savings. The calculator helps you assess your personal financial situation and helps you decide which steps to take to reach your retirement goals.

What do I need to begin?

It will take you approximately 30 minutes to use the calculator. To get the most out of your session, please make sure that you have as many of the following up-to-date records as possible, including:

  • CPP Statement of Contributions or QPP Statement of Participation;
  • financial information about your employer pension (if applicable);
  • recent RRSP statement(s) (if applicable); and
  • statements for other savings that will provide ongoing monthly retirement income (annuities, foreign pensions, survivor pensions, etc.).

If you are married or living in a common-law relationship, you must each use the calculator separately and compare your results to understand your overall situation. It is also important for couples to know how a partner's death or the end of the relationship could affect their financial situation. Estate planning should be an important part of your plan.

If you would like to see how the Post Retirement Benefit (PRB) will further contribute to your financial security after you retire, go to the PRB Calculator.