Retirement Income Estimator

Quick estimate

Start with eight simple answers

Every field has a working default. Run the estimate now, then adjust it or continue to the full estimator.

1Your current age 2Retirement age 65 Choose an age from 55 to 70.

3Household

Single Couple

Couple mode assumes both partners are the same age and retire together.

4Total household savings today

Optional: split savings by account type

These amounts set the tax treatment. If their total differs from the total above, the same proportions are applied to the total.

RRSP / RRIF TFSA Cash / other

5Annual household savings until retirement

6CPP at age 65 per person

7Total annual workplace pension

8Monthly household spending in retirement

Enter the amount in today’s dollars.

Illustrative result in today’s dollars, using simplified 2026 Ontario rules.

Your quick estimate

Estimated at age 65, when CPP and OAS are available.

Monthly income before savings withdrawals—

Monthly spending target—

Gap per month—

Run the estimate to see how long savings may last.

Full OAS is assumed for each person. If you have fewer than 40 years of Canadian residence after age 18, refine this in the full estimator.

How we calculated this

Full OAS starts at 65, including the automatic 10% increase from age 75.
Savings receive 4% nominal growth; spending and benefits use 2% inflation.
Savings without an account split are treated as taxable registered savings.
Uses simplified Ontario and federal tax brackets, basic personal amounts, and the Ontario Health Premium.
Includes simplified GIS and individual OAS recovery-tax estimates.
Couple mode assumes the same age and CPP tier for both people and splits eligible workplace pension income evenly for tax.
No RRIF minimum sequencing, survivor benefits, or investment-return variability.

1. People

Choose whether this is a single-person plan, a couple plan, or a couple plan with a survivor scenario.

Household type ? Province Person 1 current age Person 2 current age Projection years ? Survivor scenario ?

Benefit start ages

Enter the annual amount expected when each benefit starts, or the current annual amount if it has already started.

Person 1 CPP start age Person 1 OAS start age Person 1 pension start age Person 2 CPP start age Person 2 OAS start age Person 2 pension start age

2. Housing & downsizing

Choose the current housing situation, then add property value, mortgage, and optional future downsizing.

Housing type Ownership status Annual housing inflation % ?

Property value & mortgage

Current property value Property value growth % Current mortgage balance Monthly mortgage payment Mortgage years remaining

💡 Phase 1 uses a simplified mortgage payoff estimate. The monthly payment stops after the mortgage years remaining, or immediately after downsizing/sale.

House monthly costs

Property tax Home insurance Hydro Gas / heating Water Maintenance reserve Other monthly

Future downsizing / sale scenario

Include downsizing scenario? Downsize in projection year New housing type

💡 Net cash released = sale value − remaining mortgage − selling costs − new property value − buying costs − moving costs. If selling and renting, new property value is ignored.

💡 Housing is separated because property tax, condo fees, mortgage payments, maintenance, downsizing, and rent can change the retirement result significantly.

3. Common monthly expenses

These apply regardless of housing type.

Food Internet Cell phones Car insurance Transportation / fuel Medical / health Personal / clothing Entertainment / gifts Other common costs

Annual common expense inflation % ? Emergency reserve target months ?

4. Annual income

Person 1 CPP ? Person 2 CPP ? Person 1 OAS ? Person 2 OAS ? Person 1 OAS amount basis ? Person 2 OAS amount basis ? Person 1 pension Person 2 pension Person 1 other taxable income ? Person 2 other taxable income ?

💡 OAS is adjusted quarterly. For July–September 2026, the maximum is $751.97 per month for ages 65–74 and $827.17 for age 75 and over. If the entered amount does not already include the age-75 enhancement, the estimator adds 10% for the full annual projection row in which the person reaches age 75. Because birth months are not collected, the first enhanced year is an annual approximation.

CPP COLA % OAS COLA % Pension COLA % Other income growth % OAS threshold index % ?

Eligible workplace-pension split ? Pension split %

💡 OAS recovery tax is estimated separately for each person using that person's income and registered withdrawals. The 2026 threshold is $95,323 and the recovery rate is 15%, capped at that person's OAS.

Include simplified GIS estimate when eligible ? GIS couple situation ?

5. Assets

Cash / savings ? TFSA ? Person 1 RRSP / RRIF ? Person 2 RRSP / RRIF ?

Cash return % ? TFSA return % ? RRSP/RRIF return % ?

6. Withdrawal rules

Withdrawal order ? RRIF minimum starts at age ?

💡 Registered withdrawals during GIS-eligible years may reduce GIS as well as increase tax. Consider comparing this withdrawal order with a scenario that draws registered savings before OAS/GIS begins. The better result depends on tax rates, benefit timing, household status, and account balances. RRIF minimums still apply once triggered.

The amounts you enter and scenario files you load are processed in your browser and are not sent to RetireON. Saved scenario files are readable JSON and may contain personal financial assumptions; store and share them carefully.

Illustrative results based on simplified 2026 planning assumptions. Actual taxes, benefits, investment returns, and retirement outcomes may differ.

Run the estimate

Enter assumptions on the left and run the projection.

Years covered —

Ending assets —

Year 1 pre-withdrawal gap —

First depletion year —

Benefit assumptions

Run the projection to see the applicable GIS threshold and benefit assumptions.

Housing / downsizing impact

Run the projection to see the housing and downsizing impact.

Risk flags

No projection yet.

Asset path

Annual projection

Year	Age	Status	Housing	Common	Total expenses	Income	Simplified GIS est.	RRIF minimum	Withdrawals	Tax	OAS recovery	Assets end
No projection yet.

The CSV is created locally on your device. Your financial information is not sent to RetireON.

Not sure what CPP, OAS, GIS, TFSA, RRSP, RRIF, RRIF minimums, OAS clawback, or survivor risk mean? Open the glossary.

This is an educational estimate, not tax, financial, or legal advice. OAS recovery tax is modelled on an annual accrual basis; actual deductions generally follow a July-to-June recovery period. GIS is also a simplified same-year annual estimate, while actual payments are generally recalculated each July using income from the previous calendar year. Some tax credits, benefit calculations and special circumstances are not yet modelled. Review the assumptions and verify important decisions using official sources or a qualified professional.

Retirement Income Estimator Beta