Retirement Calculator
Project RRSP, TFSA and non-registered savings to retirement, then draw them down year by year with CPP, OAS, tax and OAS clawback, in today's dollars.
A 50-year-old in Ontario with $330,000 saved, adding $22,000 a year, reaches about $1,038,039 at 65 (today's dollars, 6% return). Spending $52,000 a year after tax with CPP and full OAS, the savings last past age 95, before any home equity is used.
Figures as of 2026-10-30.Retirement savings projection
- Projected savings at retirement
- $1,038,039
- Spending needed per month
- $4,333
- Covered by CPP, OAS, pension (first year)
- $1,863/mo
- Lifetime tax
- $223,860
- OAS clawback
- $0
- Years with a shortfall
- 0
Estimate, not advice. Educational estimate only, not financial, mortgage, tax or legal advice. Lenders, insurers and governments set their own rules and can change them; confirm with a licensed professional before you decide.
Lasts
Show the numbers
| Total | RRSP/RRIF | TFSA | |
|---|---|---|---|
| 50 | $366K | $275K | $70K |
| 51 | $403K | $302K | $80K |
| 52 | $441K | $329K | $90K |
| 53 | $481K | $358K | $101K |
| 54 | $522K | $387K | $112K |
| 55 | $566K | $418K | $124K |
| 56 | $610K | $450K | $136K |
| 57 | $657K | $483K | $148K |
| 58 | $705K | $518K | $162K |
| 59 | $756K | $554K | $175K |
| 60 | $808K | $591K | $189K |
| 61 | $862K | $630K | $204K |
| 62 | $919K | $670K | $219K |
| 63 | $977K | $712K | $235K |
| 64 | $1M | $755K | $252K |
| 65 | $1M | $778K | $259K |
| 66 | $1M | $764K | $267K |
| 67 | $1M | $748K | $275K |
| 68 | $1M | $731K | $283K |
| 69 | $1M | $714K | $291K |
| 70 | $996K | $697K | $299K |
| 71 | $987K | $679K | $308K |
| 72 | $978K | $660K | $317K |
| 73 | $968K | $641K | $327K |
| 74 | $958K | $622K | $336K |
| 75 | $949K | $602K | $346K |
| 76 | $939K | $583K | $356K |
| 77 | $929K | $562K | $367K |
| 78 | $919K | $541K | $378K |
| 79 | $908K | $520K | $389K |
| 80 | $897K | $497K | $400K |
| 81 | $886K | $474K | $412K |
| 82 | $875K | $451K | $424K |
| 83 | $863K | $426K | $437K |
| 84 | $851K | $401K | $449K |
| 85 | $838K | $376K | $463K |
| 86 | $825K | $349K | $476K |
| 87 | $812K | $322K | $490K |
| 88 | $799K | $294K | $505K |
| 89 | $784K | $265K | $519K |
| 90 | $770K | $235K | $535K |
| 91 | $755K | $205K | $550K |
| 92 | $740K | $173K | $567K |
| 93 | $724K | $141K | $583K |
| 94 | $708K | $107K | $600K |
Assumptions & sources
Assumptions
- Engine: RetirementPlanner.ca's retirement model (figures reviewed 2026-10-30); 2026 tax brackets, CPP and OAS (October to December 2026).
- Today's dollars; inflation 2%; return after retirement 1 point lower.
- RRIF minimums apply from 72; OAS clawback at 15% above the 2026 threshold.
Sources
- Service Canada — CPP retirement pension: how much you could receive. Checked .
- Service Canada — Old Age Security payment amounts. Checked .
- Service Canada — OAS pension recovery tax. Checked .
- CRA — Chart: prescribed factors (RRIF minimum amount). Checked .
- CRA — Tax rates and income brackets for individuals (current year). Checked .
- CRA — MP, DB, RRSP, DPSP, ALDA, TFSA limits, YMPE and YAMPE. Checked .
Your saved scenarios
Saved in this browser only. Nothing is sent to us.
| Age now / retire | 50 / 65 |
|---|---|
| Saved | $330,000 |
| Adding per year | $22,000 |
| Spending | $52,000 |
| At 65 | $1,038,039 |
| Lifetime tax | $223,860 |
| Savings last until | past 95 |
Open this example in the calculator →Computed 2026-10-30.
The CPP start age is the single biggest lever most people have: see the CPP & OAS page for the break-even age.
Go deeper on a MITEY specialist site
Frequently asked questions
How much do I need to retire in Canada?
Enough that savings, CPP, OAS and any pension cover your after-tax spending to an age you are unlikely to outlive. The projection works in today's dollars and shows the age your savings would run out, if they do.
How much CPP and OAS will I get?
The maximum CPP at 65 for a pension starting in 2026 is $1,507.65 a month, but the average new pension at 65 was $858.34 (July 2026). Full OAS for ages 65 to 74 is $762.50 a month (October to December 2026). Use your My Service Canada estimate for CPP.
What withdrawal order is best?
It depends on your tax brackets. Drawing RRSP money early to fill lower brackets can reduce lifetime tax and OAS clawback; the strategy selector shows the difference for your numbers.
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