Canadian Retirement Income Calculator
Note: Changes to Old Age Security
If you reside in Canada and have lived in Canada for 40 years after age 18, you can now calculate what happens if you choose to delay your OAS Pension.
The Canadian Retirement Income Calculator has also been updated to reflect the budget 2012 measures to gradually increase the age of eligibility for the OAS pension between the years 2023 and 2029, from 65 to 67.
This online service will provide you with retirement income information, including OAS and CPP benefits. You will need to work through a series of modules in order to estimate your retirement incomes and compare them to the 70% income replacement rate often recommended by retirement planners. It also allows you to see the impact of increased savings. The calculator will help you better understand how each level of the retirement income system will contribute to your future financial security. The calculator's results are rough estimates for information purposes only - not financial planning. The calculator does not collect personal information or identifiers.
This online service also provides you with Post Retirement Benefit (PRB) information. Included is a separate calculator that will help you better understand how contributions to this new benefit will further contribute to your financial security after you retire. The Calculator's results are rough estimates for information purposes only - not financial planning. The Calculator does not collect personal information or identifiers.
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 the following:
- CPP Statement of Contributions or QPP Statement of Participation
- financial information about your employer pension (if applicable);
- recent RRSP statement(s) (if applicable);
- statements for other savings that will provide ongoing monthly retirement income (annuities, foreign pensions; survivor pensions, etc.); and
- access to a computer that meets our minimum computer requirements.
NOTE: Find out how you can correct inaccurate or incomplete information or how to disclose information not already reported during previous dealings with the CPP and/or OAS programs. Read our NEW Disclosure Policy.
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.
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