The Government of Canada has developed an online Canadian Retirement Income Calculator to help you plan for retirement. The calculator takes you step by step through an estimate of the ongoing income you may receive throughout your retirement from:
- Old Age Security.
- Canada Pension Plan or Quebec Pension Plan.
- employer pension.
- Registered Retirement Savings Plans.
- other sources of ongoing income.
The Old Age Security program and the Canada Pension Plan (or Quebec Pension Plan) provide a modest secure base on which to build your private savings. Canadian Retirement Income Calculator helps you assess your personal financial situation and helps you decide which steps to take to reach your retirement goals.
This online citizen service will provide you with retirement income information, including OAS and CPP benefits. You will need to work through a series of modules in order to estimate your retirement incomes and compare them to the 70% income replacement rate often recommended by retirement planners.
Canadian Retirement Income Calculator also allows you to see the impact of increased savings. Canadian Retirement Income Calculator will help you better understand how each level of the retirement income system will contribute to your future financial security. Canadian Retirement Income Calculator results are rough estimates for information purposes only – not financial planning. The calculator does not collect personal information or identifiers.
Tags: canadian retirement income calculator, retirement income calculator canada, best canadian retirement income calculator, the canadian retirement income calculator, canadian retirement income calculator canada, us citizen and canada pension plan