Retirement Calculator Canada
Find out how much you need to retire comfortably in Canada — and whether your current savings are on track.
FIRE Calculator (Financial Independence / Retire Early)
Find out how much you need to save and when you can stop working, based on your income, spending, and expected returns.
4% is the traditional safe withdrawal rate
How Much Do You Need to Retire in Canada?
A common benchmark: accumulate 25× your annual retirement spending in investable assets (the 4% rule). If you plan to spend $60,000/year in retirement, target $1,500,000. CPP and OAS reduce how much you need from savings.
Canadian Retirement Income Sources
Most Canadians retire using a combination of sources.
| Income Source | 2026 Maximum | Notes |
|---|---|---|
| CPP | $1,507.65/month | Based on contributions; average is $925/month |
| OAS | $742.31/month | Available at 65; delayed bonus of 0.6%/month |
| GIS | Varies | Income-tested supplement for low-income seniors |
| RRSP/RRIF | Depends on savings | Must convert RRSP to RRIF by end of year at 71 |
| TFSA | Depends on savings | Tax-free withdrawals at any age |
| Workplace Pension | Depends on plan | DB or DC pension through employer |
Frequently Asked Questions
How much do I need to retire at 65 in Canada?
A common target is 25× your annual expenses in invested savings (4% safe withdrawal rate). If you need $50,000/year from investments (after CPP and OAS), you need $1,250,000. CPP averages $925/month and OAS is $742/month in 2026.
When can I collect OAS in Canada?
OAS starts at age 65 but can be deferred up to age 70. Deferring increases your benefit by 0.6% per month (7.2% per year), for a maximum 36% boost at age 70.
Related Calculators
RRSP
Calculate your RRSP growth, tax savings, and retirement income projections.
CPP
Estimate your Canada Pension Plan (CPP) retirement benefit based on your earnings history and retirement age.
Annuity
Calculate annuity payments, present value, or future value for retirement income planning in Canada.
TFSA
Calculate your TFSA contribution room and projected tax-free growth over time.