Retirement income and drawdown calculator
Put in your RRSP, TFSA, CPP, OAS, pension, and target spending. See your total at retirement, the monthly income it can sustain, the estimated tax along the way, and whether the money lasts or runs out.
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Savings balance over time
Your combined RRSP and TFSA from your current age, building to the retirement milestone, then drawing down.
1.What it does. Starting at your retirement age, the tool draws from your savings each year to meet your spending after tax, on top of CPP, OAS, and any pension. It applies combined federal and provincial tax, the OAS recovery tax, and the mandatory RRIF minimum withdrawal from age 72, then reports when the money runs out or what is left at your life expectancy, plus the monthly income your savings could sustain to that age.
2.Tax. Income tax uses the 2026 combined federal and provincial marginal brackets for the province you select, with the basic personal amount built in as the zero-rate band. The OAS recovery tax reduces OAS by 15 cents per dollar of taxable income above $95,323, indexed with inflation here. The estimate does not model the age amount, the pension income credit, pension income splitting between spouses, or the Guaranteed Income Supplement, so a real tax bill is often lower. Quebec figures are approximate and do not reflect the Quebec abatement and separate credits.
3.Withdrawal order. RRSP first draws taxable savings before tax-free TFSA, which usually means more tax early and less later. TFSA first preserves the RRSP, which can mean larger forced RRIF withdrawals and more total tax in later years. Neither is optimal for everyone, and a blended approach is often better. The tool shows the effect of each.
4.Assumptions. A constant return and inflation are used for illustration. CPP, OAS, and pension income are grown with inflation, though a workplace pension may not be fully indexed. Balances entered are treated as today's amounts and grown to your retirement age, with any annual saving split across your accounts in proportion to their current size. This is a single-person model and does not handle spousal planning.
5.Not advice. An educational projection, not financial or tax advice, and not a guarantee of any outcome. Markets, rules, and rates change. For a plan built around your situation, speak with a qualified financial or tax professional. Confirm benefit estimates with Service Canada and the CRA. See disclosures and the registered account selector.