Free · No account · Your data stays in your browser
How much do you need to retire in Canada?
Tell it what you want to spend. It works out the savings you need, then shows you year by year whether your money actually lasts — with CPP, OAS, forced RRIF withdrawals, income tax and the OAS clawback all included.
Most retirement calculators ask where your money is. This one asks which accounts it’s in — and that changes the answer by years.
- Your account mix, not one balance. RRSP, LIRA, TFSA and non-registered money is drawn down in the right order and taxed differently — because it is.
- The forced withdrawals nobody plans for. RRIF and LIF minimums push out taxable income from 71 whether you need it or not.
- Real Canadian tax. Federal and provincial brackets, the age and pension credits, the OAS clawback, and pension splitting for couples.
- It tells you when to start CPP and OAS. Not a break-even rule of thumb — every start-age combination, tested against your actual plan.
Free, no account, and nothing you type leaves your browser. Every figure behind it comes from a published CRA or Government of Canada table with a verification date.
Advertisement
You need about
$1,340,000
saved by age 65 to fund $60,000 a year (declining with age) to age 95 — at your current account mix.
That’s $740,000 today, given $10,000/yr of contributions until then.
With $400,000 saved
Runs out at 79
You’re about $340,000 short today. Closing it means saving more, spending less, or retiring later — try the sliders below.
CPP, OAS and any pension keep paying for life either way — running out of savings is not running out of income.
When should you start CPP and OAS?
The amounts are fixed by your contribution record, so they live on your profile. The start age is the decision, and it’s worth real money either way.
These are the current average CPP ($10,524) and full OAS ($9,024) — the maximum CPP is $18,092. Enter your own figures for a result that means something, or check what your CPP is likely to be.
−0.6%/month before 65, +0.7%/month after.
+0.6%/month after 65. Can't start before 65.
Move the levers
Retirement age and annual spending move the answer more than anything else. Everything updates as you drag.
Retire at
After-tax household spending, in today's purchasing power.
Most plans use 90–95. Outliving the plan is the risk worth over-preparing for.
How much you save between now and then
Unlike your balances, this one is a decision — so it lives here rather than on your profile. It starts from whatever you’ve saved there, and changing it won’t overwrite it.
= $833/month
$60,000/yr — travel, activity, the expensive decade.
Less travel, same home.
Switch to Month if that's how you think about it.
= $4,500/month
Raise this if you want to allow for late-life care costs.
= $4,000/month
Your situation
Age 55 · ON · Single · tax year 2026
Not a formality: two people with the same $500,000 can end up years apart, because an RRSP is taxable on the way out, a TFSA isn’t, a LIRA is locked and forced out on a schedule, and a non-registered account is taxed only on its gains. Your age, province, household and balances all come from your profile, where every other calculator on the site reads them too — nothing here is a scenario knob, so nothing here belongs on this page.
These are example figures. The projection above is a demonstration until you enter your own — it takes a minute, stays in your browser, and every calculator on the site will use it.
- RRSP / RRIF $300,000 — taxed in full on withdrawal
- Non-registered $20,000 — only gains taxed
- TFSA $80,000 — tax-free
75% of this household’s savings is fully taxable when withdrawn. A reasonably balanced mix. The tax-free and non-registered portions give you somewhere to draw from in years when extra taxable income would be expensive.
- RRSP (not yet converted)$300,000
- Taxable out. No minimum — but not splittable and no pension credit.
- TFSA$80,000
- Tax-free out, and invisible to the OAS clawback and GIS.
- Non-registered$20,000
- Only the gains are taxed, at roughly half your marginal rate.
Before inflation, after fees.
Grows spending and contributions.
Year-by-year detail (first 10 retirement years)
After tax-optimized splitting of eligible RRIF, LIF and pension income. Spending is inflation-adjusted from the amount you entered in today’s dollars.
| Age | Start | CPP / OAS / pension | Withdrawn | Tax + clawback | Spending | End |
|---|---|---|---|---|---|---|
| 65 | $788,191 | $19,548 | $70,688 | $17,097 | $73,140 | $753,378 |
| 66 | $753,378 | $19,548 | $72,832 | $17,777 | $74,602 | $714,574 |
| 67 | $714,574 | $19,548 | $75,018 | $18,471 | $76,095 | $671,533 |
| 68 | $671,533 | $19,548 | $77,662 | $19,594 | $77,616 | $623,564 |
| 69 | $623,564 | $19,548 | $80,641 | $21,020 | $79,169 | $570,070 |
| 70 | $570,070 | $19,548 | $83,720 | $22,516 | $80,752 | $510,668 |
| 71 | $510,668 | $19,548 | $86,123 | $23,304 | $82,367 | $445,772 |
| 72 | $445,772 | $19,548 | $89,335 | $24,868 | $84,014 | $374,260 |
| 73 | $374,260 | $19,548 | $92,622 | $26,475 | $85,695 | $295,719 |
| 74 | $295,719 | $19,548 | $80,284 | $7,953 | $87,409 | $226,207 |
Advertisement
Why the Canadian answer is different
Most retirement advice you’ll find online is written for Americans, and it overstates what you need. In Canada, CPP and OAS provide indexed income for life — together often $20,000 to $27,000 a year for one person, double that for a couple — before you touch a dollar of savings. Your nest egg only has to cover the gap.
It also understates some risks. From the year you turn 71 a prescribed RRIF minimum comes out every year whether you need it or not, and once income passes the threshold the OAS recovery tax claws back 15 cents on the dollar. The planner above models both, which is why its answer differs from a simple drawdown calculator’s.
Read the full guide: how much do you need to retire in Canada →
Go deeper on any one piece
Every calculator on this site answers one part of the question above, and they all share a single retirement profile — enter your information once and move freely between them.
How much can I take out?
What will I pay in tax?
What will the government pay me?
Where should I put my savings?
How these estimates are calculated
Every number comes from static data tables — CRA prescribed RRIF factors, published federal and provincial tax brackets, CPP and OAS payment amounts, and Government of Canada clawback thresholds — each with its source link and a last-verified date. There are no live lookups of CRA or Service Canada systems, and the math is deliberately simplified: it covers progressive brackets, the basic personal amount, the age and pension income credits, RRIF and LIF minimums, and the 15% OAS recovery tax, but not every credit, deduction, or special rule on a real tax return.
Data tables were last verified on August 3, 2026. You can review every source on the data sources page.
Frequently asked questions
Which calculator should I use first?
This one. The planner on this page is the whole picture: how much you need, whether it lasts, and what changes if you retire earlier or later. Every other calculator on the site answers one piece of it in more detail — the RRIF minimum you're forced to take, the tax you'll pay in your province, whether OAS gets clawed back, how much CPP you'll actually receive. Start broad, then drill into whichever number surprised you.
Is this retirement calculator free, and do I need an account?
Yes, every calculator here is free, with no account and no login. The retirement profile you fill in is saved only in your own browser's local storage — nothing is sent to or stored on a server. You can clear it at any time from the profile page.
How accurate are these calculators?
As accurate as CRA-verified prescribed factors, published tax brackets, and Government of Canada benefit thresholds allow — every data table cites its government source and a last-verified date on the data sources page. But every calculator uses a simplified model of real tax and benefit rules, documented on each page, so treat results as planning estimates rather than a substitute for your Notice of Assessment, a Service Canada statement, or advice from a qualified professional.
What makes a Canadian retirement calculator different from an American one?
CPP, OAS, RRIF minimums and the OAS clawback — none of which exist in a U.S. model. CPP and OAS provide indexed, lifelong income that shrinks how much your savings need to generate, so American rules of thumb overstate what Canadians need. Forced RRIF withdrawals from age 71 push out taxable income whether you want it or not. And the OAS recovery tax acts like a hidden extra bracket. A calculator that ignores all four will give a Canadian the wrong answer in both directions at once.