Free, educational Canadian retirement tools · figures reviewed October 30, 2026Part of the MITEY network
    RetirementPlanner.ca
    Free tool 2026 rules

    Retirement plan model with Monte Carlo ranges

    This model follows your savings from today to the age you plan to, year by year: contributions while you work, then CPP, OAS, any workplace pension and withdrawals from your RRSP/RRIF, TFSA and non-registered accounts, with 2026 tax rules applied. It then repeats the whole plan across 400 different market paths so you see a range, not a single line.

    Mitey holding a small potted seedling beside a notebook

    Your plan

    Planning past your expected lifespan protects against outliving savings.

    Savings today

    Saving each year until retirement

    2026 RRSP dollar limit: $33,810 (18% of earned income, less pension adjustments).
    2026 TFSA limit: $7,000 per person.

    Retirement income

    Today's dollars, for the whole household.
    From your Statement of Contributions. 2026 maximum at 65: $1,507.65.
    40 years for a full OAS pension; at least 10 for a partial one.

    Assumptions

    Standard deviation of yearly returns. A balanced portfolio is often modelled around 8–12%.
    Bank of Canada target: 2%.
    Market paths where money lasts
    73%
    to age 95, 400 paths
    Savings at 65
    $1,038,039
    average-return path, today's $
    Sustainable spending
    $63,900
    per year after tax, average path
    Lifetime tax + OAS recovery
    $267,000
    no OAS recovery tax

    Range of outcomes: total savings by age

    $0$500k$1.0M$1.5M$2.0M5056626874808692Retire
    Median pathMiddle 50% of paths80% of paths (10th–90th percentile)

    0% of paths run short before 75 · 2% of paths run short before 80 · 9% of paths run short before 85 · 20% of paths run short before 90 · 27% of paths run short before 95

    Where the money sits (average-return path)

    $0$500k$1.0M$1.5M$2.0M5056626874808692
    RRSP / RRIFTFSANon-registered

    Retirement years at a glance

    AgeCPP + OAS + pensionRRIF minimumFrom savingsTax + recoverySavings left
    65$22,350$0$30,961$1,311$1,036,698
    70$22,350$0$38,812$9,162$986,521
    75$23,265$35,183$37,897$9,162$929,460
    80$23,265$33,550$37,897$9,162$867,553
    85$23,265$30,788$37,897$9,162$795,990
    90$23,265$25,192$37,897$9,162$713,266

    Today's dollars. Returns are converted to real returns after 2% inflation; CPP, OAS, tax brackets and the OAS threshold are treated as indexed. Withdrawals: non-registered first, then RRSP/RRIF (never less than the RRIF minimum from 72), TFSA last; surpluses go to the TFSA. Tax uses 2026 federal and provincial brackets and basic personal amounts only. Monte Carlo draws independent yearly returns from a normal distribution with seed 20261030, so results repeat exactly.

    Educational estimate, not advice. Results depend on your inputs and the assumptions listed. They are not a prediction of returns or a recommendation. Check benefit amounts in your My Service Canada Account and tax details with the CRA. Read the disclaimer.

    How to use this tool

    1. Enter your age, retirement age and the age to plan to.
    2. Add current balances and yearly contributions.
    3. Set CPP, OAS and pension estimates and your after-tax spending goal.
    4. Read the success rate and the range of outcomes, then test changes.

    How to read the success rate

    The success rate is the share of simulated market paths in which your after-tax spending was fully paid every year up to your planning age. It isn't a probability that your retirement will "work": it depends entirely on the return, volatility and inflation inputs you choose, and real markets don't follow a normal distribution.

    A useful way to use it is comparatively. Change one thing at a time — retire two years later, start CPP at 70, trim spending by $3,000 — and watch how the rate and the shaded band move. Large moves tell you which levers matter most in your situation.

    What the model includes

    • Canadian tax: 2026 federal and provincial brackets and basic personal amounts, plus the 15% OAS recovery tax above the 2026 threshold of $95,323.
    • CPP from any age 60–70 with the official 0.6%/month reduction and 0.7%/month increase; OAS from 65–70 with the 0.6%/month deferral increase and the 10% increase at 75.
    • RRIF minimum withdrawals from age 72 using the CRA prescribed factors.
    • A withdrawal order: non-registered first, then RRSP/RRIF, then TFSA, with any surplus (for example forced RRIF minimums) moved into the TFSA up to the 2026 limit.
    • Couples: income is shared evenly between partners for tax, approximating pension income splitting.

    What it leaves out

    The model doesn't know your actual RRSP and TFSA room, your investment fees, the age and pension tax credits, GIS, survivor benefits, the timing of a home sale or an inheritance, or long-term-care costs. Spending is level in today's dollars, although many retirees spend more early on and less later.

    For the full list of assumptions and formulas, see the methodology. To test the order of withdrawals specifically, use the withdrawal order tool.

    Frequently asked questions

    What success rate should I aim for?
    There's no official target. A higher rate means more cushion against poor markets but usually means saving more or spending less. Many people look at the range together with what they could change later — spending flexibility, part-time work or delaying CPP — rather than a single number.
    Why are results in today's dollars?
    So that a figure like $52,000 of spending at 85 means what $52,000 buys today. CPP, OAS and the tax brackets are indexed to inflation, so working in today's dollars keeps them comparable.
    Where do I find my CPP estimate?
    Your Statement of Contributions in My Service Canada Account shows an estimate at 65 based on your contributions so far. The 2026 maximum at 65 is $1,507.65 a month; the average for new pensions in July 2026 was $858.34.
    Is my data saved?
    No. The calculation runs in your browser. If you copy the link, your inputs are stored only in that link.

    Official sources

    Figures checked October 30, 2026. Rules and amounts change; confirm current details on the official pages above.