Retirement Projection Calculator

Your personalized retirement roadmap with projections and recommendations

How to use this tool

Personal Information

Current Finances

$
$
$
$
Total Current Savings$90,000.00

Non-Registered Contributions

For investments beyond RRSP/TFSA limits

$
Annual: $1,800.00

RRSP Contributions

$
Annual: $4,800.00

TFSA Contributions

$
Annual: $2,400.00

Employer Retirement Plan

$
%
Your contribution per paycheck:$300.00
Employer match per paycheck:$150.00
Total per paycheck:$450.00
Annual employer match:$1,800.00
Total Annual Contribution$14,400.00

Investment Assumptions

%
%

Retirement Income Goals

%
$
$
$

Executive Summary

Projected Savings at 65
$1,722,332.26
Required Savings
$2,183,057.45
Shortfall
$460,725.19

Based on your current savings trajectory, you are projected to have $1,722,332.26 at age 65. To maintain 70% of your current income in retirement, you will need approximately $2,183,057.45. You currently have a shortfall of $460,725.19.

Retirement Savings Projection

Growth Breakdown

Starting balance ($90,000) grows to:
$516,914.21
Future contributions will grow to:
$1,205,418.05
The dashed line shows cumulative contributions without growth. The difference between the lines shows the power of compound interest!

Retirement Income Sources (Today's Dollars)

CPP
$14,400.00/yr
OAS
$8,400.00/yr
Other Pension
$0.00/yr
Personal Savings
$29,700.00/yr
Total Annual Income (today's $)$52,500.00/yr

Personalized Recommendations

Increase Monthly Contributions

You need approximately $1280 more per month to reach your retirement goal.

Retirement Planning Milestones

Years Until Retirement
30
Years in Retirement
Expected retirement duration
25
Total Contributions
Including employer match
$432,000.00

Next Steps

  • Review and adjust your monthly contributions to stay on track
  • Maximize employer matching contributions if available
  • Diversify your investment portfolio based on your risk tolerance
  • Review your plan annually and adjust for life changes
  • Consult with a financial advisor for personalized guidance

Methodology & Important Disclaimer

How This Calculator Works

This retirement projection calculator uses monthly compounding with end-of-period contributions. Your contributions are assumed to be made at the end of each month, and interest compounds monthly, which provides a more accurate projection than annual compounding. The 4% withdrawal rule is used to estimate required retirement savings (total savings needed = annual income gap × 25).

Key Assumptions

  • Investment returns compound monthly at the specified rate
  • Contributions remain constant throughout the accumulation period
  • No withdrawals are made before retirement
  • Tax implications are not included in projections
  • Inflation adjusts your desired retirement income to future dollars
  • Government benefits (CPP/OAS) are shown in today's dollars

Important Disclaimer

This calculator is provided for educational and illustrative purposes only. It should not be considered financial advice. Actual investment returns will vary and are not guaranteed. Past performance does not indicate future results. Fees, taxes, market volatility, and personal circumstances can significantly impact your retirement outcomes.We strongly recommend consulting with a qualified financial planner or advisor who can provide personalized guidance based on your complete financial situation, risk tolerance, and retirement goals.

Why Consult a Financial Planner?

A professional financial planner can help you with tax optimization strategies, proper asset allocation, estate planning, insurance needs, and creating a comprehensive retirement income strategy that accounts for factors this calculator cannot consider. They can also help ensure your plan adapts to life changes and market conditions over time.

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Frequently Asked Questions

Last updated: July 2026

You can start receiving CPP retirement benefits as early as age 60 or as late as age 70. The standard age is 65. Taking CPP early reduces your monthly pension by 0.6% per month (7.2% per year) before age 65. Delaying increases it by 0.7% per month (8.4% per year) after age 65, up to a 42% increase at age 70.

The maximum CPP retirement pension at age 65 in 2025 is $1,364.60 per month. However, the average amount is closer to $831 per month, since most Canadians don't contribute the maximum throughout their working years. Your actual amount depends on your contribution history, which you can check via your My Service Canada Account.

Reviewed by

Educational tool - estimates only. Not individualized financial, investment, tax, or legal advice. Using it does not create an advisor-client relationship. Rules and figures change; verify against current CRA sources and consult a qualified professional. Editorial policy →