Household drawdown planner

    Stop work · Partner stops · Pension (P)CPP · OASCPP (P) · OAS (P)RRIFRRIF (P)90%80%Working and saving586065707580859095
    CPPOASWorkplace pensionRRSP / RRIFNon-registeredColumn height = that year's after-tax spending (up to $92,000).

    You stop work at 62 and your partner at 60. CPP starts at 65 ($1,582/month) and 65 ($1,260/month). On the average-return path, the plan pays $92,000 a year after tax (easing to $73,600 by 85) all the way to 95, with about $1,454,737 left after tax. In 94% of 500 market paths the money lasts.

    Money lasts to the end
    Yes
    94% of 500 market paths
    Sustainable spending
    $116,600/yr
    after tax, same spending pattern
    First retirement paycheque
    $7,667/mo
    at 62 · 60, after tax
    After-tax estate
    $1,454,737
    lifetime tax + recovery $439,343
    Try a scenario:

    Your household

    You
    Years without CPP earnings before CPP starts can lower CPP (see the CPP and OAS tab).
    Before tax. Used for CPP and for any working years after the household's retirement starts.
    Leave at 0 to estimate CPP from income. A statement estimate usually assumes you keep contributing to 65; the model works out the earnings level behind it.
    Cumulative TFSA room for someone 18 or older in 2009 who never contributed: $109,000 in 2026.
    Your partner (tap to edit)
    Years without CPP earnings before CPP starts can lower CPP (see the CPP and OAS tab).
    Before tax. Used for CPP and for any working years after the household's retirement starts.
    Leave at 0 to estimate CPP from income. A statement estimate usually assumes you keep contributing to 65; the model works out the earnings level behind it.
    Cumulative TFSA room for someone 18 or older in 2009 who never contributed: $109,000 in 2026.
    Shared savings and spending
    Today's dollars. Include everything: housing, travel, cars, gifts.
    Set both to 100% for flat spending. Health and care costs can rise late in life; adjust if you expect that.
    Withdrawal order
    Market and inflation assumptions
    Yearly standard deviation; balanced portfolios are often modelled at 8–12%.
    Bank of Canada target: 2%.
    Edit your inputs ↓

    What's driving this result

    • 3 bridge years before CPP and OAS start: savings pay about $265,767 in that stretch, the heaviest draw of the plan.
    • Over the whole retirement, CPP, OAS, pensions and GIS cover about 60% of spending before tax; savings cover the rest.
    • Lifetime income tax and OAS recovery tax: $439,343.
    • RRIF minimums and pensions push out $452,892 more than you spend over the years; it's saved back to the TFSA and non-registered savings.
    • About $1,454,737 is left after tax at the end, in today's dollars.

    Who pays for each year

    AgeCPPOASWorkplace pensionRRSP / RRIFNon-registeredSpending
    62$0$0$13,914$21,939$56,147$92,000
    65$16,619$8,007$11,545$55,829$0$92,000
    70$30,386$16,301$10,644$34,670$0$92,000
    75$29,936$16,862$9,497$26,505$0$82,800
    80$29,972$17,687$8,613$26,528$0$82,800
    85$30,050$17,733$7,821$17,996$0$73,600
    90$30,140$17,786$7,105$18,569$0$73,600
    95$30,394$17,936$6,489$18,782$0$73,600
    96$30,711$18,123$6,428$18,338$0$73,600

    After tax, today's dollars: tax and OAS recovery tax are taken from the taxable sources in proportion. The full year-by-year schedule is on the Paycheque tab.

    How it works: today's dollars; CPP, OAS, GIS, tax brackets and credits are indexed. Tax per person uses 2026 federal and provincial brackets, the basic personal, age and pension income amounts, the Ontario surtax and Health Premium; eligible pension income is split to even out incomes when that helps. RRSP money withdrawn at 65+ is treated as RRIF income (eligible for the pension credit and splitting); RRIF minimums apply from 72. Surpluses go to the TFSA (room $7,000 a person plus last year's withdrawals), then non-registered. GIS uses a straight-line approximation of the official tables. The main plan assumes both partners live to the end; the What if tab has a survivor check. Methodology and model checks.

    Household drawdown planner · Powered by RetirementPlanner.ca · MITEY. Educational estimates, not financial advice.