Canadian Retirement Income Calculator

Note: Changes to Old Age Security

On June 22, 2016, the age of eligibility for the Old Age Security (OAS) pension was restored from age 67 to 65. This change is currently being updated in the Canadian Retirement Income Calculator.

Temporarily, the calculator will underestimate the calculation of OAS income for those who are 65 and 66 years old as of 2023, until this is updated.

This doesn’t affect actual retirement income, which includes the OAS pension starting at age 65.

The calculator will be updated soon; please check back with us.

The Canadian Retirement Income Calculator will provide you with retirement income information, including the Old Age Security (OAS) pension and Canada Pension Plan (CPP) retirement benefits. You will need to work through a series of modules in order to estimate your retirement incomes from various sources and compare them to your goal income. It also allows you to see the impact of changes in savings behaviour.

The calculator will help you better understand how each pillar of the retirement income system will contribute to your future financial security.

This online service includes information on the Post Retirement Benefit (PRB). 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 estimates for information purposes only, and should not be considered financial planning advice. 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, you may wish to have access to 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); and
  • statements for other savings that will provide ongoing monthly retirement income (annuities, foreign pensions; survivor pensions, etc.).

Notes:

To use this calculator you must have access to a modern Web browser. This could include such browsers as Internet Explorer (version 9 or newer), Mozilla Firefox (version 22 or newer), Safari (version 5 or newer) or Google Chrome (version 28 or newer). In addition, you must ensure that JavaScript is enabled to load the application. Please make sure to update your browser and/or settings before using this calculator.

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 by reading the 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 couple s to know how a partner's death or the end of the relationship could affect their financial situation.

In an effort to modernize and continuously improve our online services to Canadians, we would appreciate your feedback.

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