Legal & disclosures

Retirement calculator

Deposits made to your retirement savings and any withdrawals from your retirement savings are assumed to be at the end of the year and returns are applied at the beginning of the year.

Maximum Retirement Savings Plan (RSP) contribution limits and minimum Retirement Income Fund (RIF) withdrawal rules are not considered.

All monetary outputs are assumed to be pre-tax amounts.

An annual inflation rate is not considered in the assumptions.

Planned retirement age is at the beginning of the year. We calculate the number of years in retirement from the retirement age you provided until you reach the age of 90. We assume that you will need 70% of your current income before tax to maintain your current lifestyle in retirement.

CPP/QPP, and OAS are assumed to start at the age of 65 and assumed you will be receiving the maximum Old Age Security benefit ($7,362.36 annually, as of 2019), and the maximum Canada Pension Plan benefit ($13,854.96, as of 2019).

OAS claw-back rules are not considered.

The assumed return leading up to retirement of 3.93% is based on an assumed return of 6.16% and average MER 2.23% from 76 Canada Global Neutral Balanced funds- Morningstar, over the past 5 years.

The assumed return after retirement of 2.37% is based on an assumed return of 4.09% and average MER 1.72% from 49 Canada Global Fixed Income Balanced funds- Morningstar.

The assumed return with Questwealth Portfolios leading up to retirement of 5.78% or 5.71% is based on an assumed return of 6.16% and management fee ranging from 0.38%-0.45%.

Any shortfall in savings is assumed to be made up of registered funds.

The results you receive from this calculator are for your information only. The figures are not guaranteed as they are based on assumptions that are certain to change. There is no guarantee of future performance.