Retirement Income Projection Calculator

See your complete retirement picture — year by year from retirement to your planning age. Set your target income and see exactly how CPP, OAS, RRIF, TFSA, and pensions work together.

01 —INPUTS

Basic Information

Current Age

Retirement Age

Planning Age

Province / Territory

Target Annual Net Income (CAD)

Inflation Rate (%)

Government Benefits

CPP Monthly at 65 (CAD)

CPP Start Age

OAS Monthly at 65 (CAD)

OAS Start Age

Find your CPP and OAS estimates in your My Service Canada Account.

Savings Accounts

RRSP/RRIF Balance at Retirement (CAD)

TFSA Balance at Retirement (CAD)

Investment Return Rate (%)

Other Income Sources

DB Pension Annual (CAD)

DB Pension Start Age

Non-Registered Investment Income (CAD/yr)

Part-Time Income (CAD/yr)

02 —RESULTS

Income shortfall detected

Your savings may not last to age 90. Consider reducing your target income, delaying retirement, or increasing savings.

Projection Summary

Retirement Duration

26 years

RRIF Depletion Age

Age 78

Total RRIF Withdrawals

$640,833

Total TFSA Withdrawals

$178,718

Total Taxes Paid

$181,443

Total OAS Clawback

03 —BREAKDOWN

Income Sources by Age

Account Balances Over Time

Year-by-Year Details

Age	CPP	OAS	DB Pension	Other	RRIF	TFSA	Tax	Clawback	Net Income	RRIF Bal.	TFSA Bal.
65	$10,800	$8,724	$0	$0	$39,648	$0	$9,172	$0	$50,000	$478,766	$104,000
66	$10,800	$8,898	$0	$0	$40,895	$0	$9,593	$0	$51,000	$455,387	$108,160
67	$10,800	$9,076	$0	$0	$42,167	$0	$10,023	$0	$52,020	$429,749	$112,486
68	$10,800	$9,258	$0	$0	$43,464	$0	$10,462	$0	$53,060	$401,736	$116,986
69	$10,800	$9,443	$0	$0	$44,787	$0	$10,909	$0	$54,122	$371,227	$121,665
70	$10,800	$9,632	$0	$0	$46,137	$0	$11,365	$0	$55,204	$338,093	$126,532
71	$10,800	$9,825	$0	$0	$47,514	$0	$11,830	$0	$56,308	$302,202	$131,593
72	$10,800	$10,021	$0	$0	$48,918	$0	$12,305	$0	$57,434	$263,416	$136,857
73	$10,800	$10,222	$0	$0	$50,351	$0	$12,789	$0	$58,583	$221,588	$142,331
74	$10,800	$10,426	$0	$0	$52,025	$0	$13,496	$0	$59,755	$176,345	$148,024
75	$10,800	$10,635	$0	$0	$53,515	$0	$14,000	$0	$60,950	$127,743	$153,945
76	$10,800	$10,847	$0	$0	$55,035	$0	$14,514	$0	$62,169	$75,617	$160,103
77	$10,800	$11,064	$0	$0	$56,586	$0	$15,038	$0	$63,412	$19,792	$166,507
78	$10,800	$11,285	$0	$0	$19,792	$28,271	$5,468	$0	$64,680	$0	$143,766
79	$10,800	$11,511	$0	$0	$0	$44,963	$1,300	$0	$65,974	$0	$102,755
80	$10,800	$11,741	$0	$0	$0	$46,122	$1,370	$0	$67,293	$0	$58,898
81	$10,800	$11,976	$0	$0	$0	$47,304	$1,440	$0	$68,639	$0	$12,058
82	$10,800	$12,216	$0	$0	$0	$12,058	$1,513	$0	$33,561	$0	$0
83	$10,800	$12,460	$0	$0	$0	$0	$1,586	$0	$21,674	$0	$0
84	$10,800	$12,709	$0	$0	$0	$0	$1,661	$0	$21,848	$0	$0
85	$10,800	$12,963	$0	$0	$0	$0	$1,738	$0	$22,026	$0	$0
86	$10,800	$13,223	$0	$0	$0	$0	$1,816	$0	$22,207	$0	$0
87	$10,800	$13,487	$0	$0	$0	$0	$1,895	$0	$22,392	$0	$0
88	$10,800	$13,757	$0	$0	$0	$0	$1,976	$0	$22,580	$0	$0
89	$10,800	$14,032	$0	$0	$0	$0	$2,059	$0	$22,773	$0	$0
90	$10,800	$14,313	$0	$0	$0	$0	$2,125	$0	$22,988	$0	$0

Want to optimize your CPP and OAS start age?

Find your optimal start age with breakeven analysis →

How it works: This calculator projects year-by-year retirement income from age 65 to 90. It calculates the RRIF withdrawal needed each year to meet your target net income (after tax and OAS clawback), using CRA's prescribed minimum withdrawal rates starting at age 71 (a 1/(90-age) formula applies for early RRIF conversions before 71). TFSA withdrawals are used as a tax-free backstop when RRIF funds run low. Tax calculations use 2026 federal and provincial brackets held flat for every projected year. CPP is adjusted at standard rate. OAS is adjusted +0.6%/month for deferral past 65. This calculator is for illustrative purposes only — consult a qualified financial advisor.

Edit inputs ↑

How This Calculator Works

Target-driven withdrawals: Unlike simple withdrawal calculators, this tool works backwards from your desired lifestyle. You set your target annual net income, and the calculator determines how much to withdraw from your RRIF each year to achieve it — after accounting for taxes and OAS clawback.

Smart withdrawal sequencing: The calculator prioritises RRIF withdrawals (which are taxable) first, using TFSA (tax-free) as a backstop when RRIF funds run low. This approach provides tax-efficient income throughout retirement.

CRA minimum withdrawals: From age 71 (the CRA's prescribed table's first year, 5.28%), the calculator enforces CRA-prescribed minimum RRIF withdrawal rates. Even if your other income covers your target, you must withdraw at least the minimum — which the calculator accounts for in tax calculations.

Inflation adjustment: Your target income increases annually by the inflation rate you specify, ensuring your purchasing power is maintained throughout retirement. OAS benefits are also indexed to inflation.

Frequently asked questions

How does the retirement income projection work?

The calculator projects your retirement income year-by-year from your retirement age to your planning age. It combines CPP, OAS, DB pension, RRIF withdrawals, TFSA withdrawals, and other income, then calculates federal and provincial taxes plus OAS clawback. RRIF withdrawals are automatically calculated to meet your target net income.

What is target-driven RRIF withdrawal?

Instead of specifying a fixed withdrawal amount, you set your desired annual net income. The calculator determines how much to withdraw from your RRIF each year to meet that target after taxes and OAS clawback, while respecting CRA's prescribed minimum withdrawal rates starting at age 71.

How does inflation affect the projection?

Your target net income increases each year by the inflation rate you specify. OAS benefits are also indexed to inflation. This ensures the projection reflects the rising cost of living throughout retirement.

What happens when my RRIF runs out?

When your RRIF is depleted, the calculator automatically draws from your TFSA to cover the income gap. TFSA withdrawals are tax-free, so they efficiently supplement your income. If both accounts are depleted, the calculator flags a shortfall warning.

Does the calculator account for OAS clawback?

Yes. The OAS Recovery Tax (clawback) is calculated each year at 15% of net income above the threshold ($95,323 in 2026). The RRIF withdrawal solver accounts for clawback when determining the optimal withdrawal amount to meet your target net income.

Related retirement tools

Retirement Income Calculator

Single-year snapshot of your retirement income, tax, and OAS clawback

CPP/OAS Start Age Calculator

Find the optimal age to start CPP and OAS with breakeven analysis

RRIF Minimum Withdrawal Calculator

CRA-prescribed minimum withdrawal rates and year-by-year RRIF projection

Retirement Savings Goal Calculator

Calculate how much you need to save to reach your retirement income target