Desjardins Retirement Calculator

Step 1. Your situation

All information is required. Amounts are in today's dollars.

Current age:

years old

The younger you start to contribute, the easier it will be to reach your retirement goals.

Current salary and other income (gross):

$ Payment period for your current salary and other income.

Enter your gross income, including your salary for the period selected.

Province of residence:

Expected return:

Your risk tolerance may change over the course of your life, especially as you approach retirement. It's important to keep your tolerance in mind even if it means saving more for retirement.
How do we establish return profiles?

Step 2. Retirement plan

All information is required. Amounts are in today's dollars.

Expected retirement age:

years old

According to Statistics Canada, the average retirement age in Canada is 64.

Assess how retiring before 65 will affect you:

Your Quebec Pension Plan or Canada Pension Plan benefits will be reduced.
You will not be eligible for the Old Age Security pension before the age of 65.

Life expectancy:

years old

Retirement planning professionals use 95 years of age^{note 1}. It should be noted that your family history and lifestyle may contribute to increasing or decreasing your life expectancy.

Desired retirement income (gross):

$ per year OR

% of your current gross income

Retirement professionals generally recommend using 70%^{note 1} of your end-of-career salary. The percentage may vary depending on the type of retirement you want.

Additional retirement income (gross):

$ Payment period for your additional retirement income

Until what age will you be receiving this income? years old

A few examples (excluding income from government plans):

Part-time job
Rental income

If you're still working when you reach 60 years of age, there are some tax and social measures that may be to your advantage. Ask your advisor more at your retirement planning appointment.

1. Source : Quebec Pension Plan - New window - external link Quebec Pension Plan Back to life expectancy's help Back to desired retirement income's help

Step 3. Government plans at retirement

All information is required. Amounts are in today's dollars.

At what age do you expect to start receiving Old Age Security (OAS) pension benefits?

years old

You may defer your OAS pension up to 5 years after you become eligible, meaning as of your 65th birthday. Your pension amount will increase by 7.2% per deferred year.

Estimated OAS pension amount, based on the information you entered:

$ per year

If you've lived in Canada for less than 40 years after the age of 18, you'll get a partial amount. The amount is based on the number of years you've lived in Canada, divided by 40. For example, if you've lived in Canada for 20 years after the age of 18, you'll receive an amount equal to 50% of the total pension (20 divided by 40).

At what age do you expect to start receiving Quebec Pension Plan (QPP) or Canada Pension Plan (CPP) benefits?

years old

You can start receiving pension plan benefits between 60 and 70 years of age.

A penalty of 7.2% per year applies if you start receiving benefits between 60 and 65.
A bonus of 8.4% per year applies if you start receiving benefits after 65, but no later than 70.

Estimated QPP or CPP amount, based on the information you entered:

$ per year

We estimated the maximum amount you could get based on the age at which you want your pension to start.

Step 4. Personal savings for retirement

All information is required. Amounts are in today's dollars.

Investments accrued to date:

A) Investments accrued to date:

Registered retirement savings plan (RRSP) and Locked-in retirement account (LIRA):

$

What is a LIRA?
Before investing in non-registered accounts to save for retirement, consider using your available annual RRSP and TFSA contribution room.

Tax-Free Savings Account:

$

Enter the amount saved for retirement.

The annual TFSA contribution limit is:

2009 to 2012: $5,000
2013 and 2014: $5,500
2015: $10,000
2016 to 2018: $5,500
2019 to 2022: $6,000
2023: $6,500
2024: $7,000

You may have up to $95,000 of available contribution room in 2024.

Non-registered accounts:

$

Enter the amount saved for retirement.

For your non-registered accounts, there are tax-efficient strategies that allow you to defer tax payments. Speak with your advisor to learn more.

Periodic contributions until retirement:

B) Periodic contributions until retirement:

Registered Retirement Savings Plan:

$ Payment period for your RRSP contributions

Make sure to use all available annual RRSP contribution room. This reduces your annual taxable income and lowers your tax bill.

Did you know that unused contribution room from previous years can be carried over?

TFSA:

$ Payment period for your TFSA contributions

Enter the amount saved for retirement.

The annual TFSA contribution limit is:

2009 to 2012: $5,000
2013 and 2014: $5,500
2015: $10,000
2016 to 2018: $5,500
2019 to 2022: $6,000
2023: $6,500
2024: $7,000

You may have up to $95,000 of available contribution room in 2024.

Non-registered accounts:

$ Payment period for your contributions to non-registered accounts

Enter the amount saved for retirement.

Did you know that a simple way to save for retirement is to set up a pre-authorized contribution plan? You can set the frequency and amount to be transferred automatically from your account for your contributions.

Step 5. Pension plan at work

All information is required. Amounts are in today's dollars.

Do you have a pension plan from a current or previous employer or a voluntary retirement savings plan (VRSP)?

Do you have a pension plan from a current or previous employer or VRSP?

No
Yes, a defined benefit plan (this answer displays new questions)
Yes, a defined contribution plan/VRSP (this answer displays new questions)
Yes, both types (this answer displays new questions)

Defined benefits: You already know the pension amount you will receive at retirement.
Defined contributions/VRSP: You know the amount you currently contribute, but pension benefit amounts at retirement will depend on investment returns.

Do you have more than one pension plan? In some cases, transferring pension plans from your previous employers into a LIRA can make them easier to manage. Feel free to ask us for advice.

Defined benefit pension plans

Defined contribution pension plans or VRSP

All information is required. Amounts are in today's dollars.

Results: Goal reached This scenario does not allow you to reach your retirement goal.

This chart is not accessible. Go to the next content

Adjustment form.

Expected retirement age:

years old

Desired retirement income (gross):

$ per year OR % of your current gross income

Periodic contributions - Registered retirement savings plan (RRSP):

$ Payment period for your RRSP contributions

Periodic contributions - Tax-free savings account (TFSA):

$ Payment period for your TFSA contributions

Periodic contributions - Non-registered accounts:

$ Payment period for your contributions to non-registered accounts

Start age for Old Age Security pension:

years old

Start age for Quebec Pension Plan or Canada Pension Plan benefits:

years old

Adjust:

Breakdown of personal savings at retirement age	Age 65 ($)
Registered retirement savings plan (RRSP)
Tax-free savings account (TFSA)
Non-registered savings
Total personal savings at retirement
Savings goal to reach by retirement age
Surplus / (deficit)	$0
Amounts are in today's dollars

	Your income
Retirement income sources	Age 65 (retirement)	Age 65 (OAS starts)	Age 65 (QPP starts)	Age 95
Old Age Security (OAS) pension		$8,251	$8,251
Quebec Pension Plan (QPP) or Canada Pension Plan (CPP)		$9,000	$9,000
Personal savings for retirement
Defined benefit pension plans
Defined contribution pension plans
Other retirement income
Estimated total annual retirement income
Desired total annual income
Surplus / (deficit)	$0	$0	$0	$0
Amounts are in today's dollars

Once you're retired, some expenses disappear or decrease, while others increase. You can get a comprehensive picture of your situation by drawing up your retirement budget (evaluate your retirement budget).

Wondering how an illness or loss of independence could affect your retirement plan? Your advisor can recommend insurance products tailored to your situation.

Calculation assumptions

Title:	Title Mr. Ms.
First name:
Last name:

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Desjardins Retirement Calculator

In the meantime, you can use the calculator to:

Step 1. Your situation

Step 2. Retirement plan

Changes in retirement expenses

Tax and social measures

Step 3. Government plans at retirement

Step 4. Personal savings for retirement

A) Investments accrued to date:

B) Periodic contributions until retirement:

Step 5. Pension plan at work

A) Defined benefit pension plans

B) Defined contribution pension plans or VRSP

Results: Goal reached This scenario does not allow you to reach your retirement goal.

Calculation assumptions

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Desjardins Retirement Calculator

In the meantime, you can use the calculator to:

Step 1. Your situation

How do we establish return profiles?

Step 2. Retirement plan

Changes in retirement expenses

Tax and social measures

Step 3. Government plans at retirement

Step 4. Personal savings for retirement

A) Investments accrued to date:

What is a LIRA (Locked-in retirement account)?

B) Periodic contributions until retirement:

Step 5. Pension plan at work

A) Defined benefit pension plans

B) Defined contribution pension plans or VRSP

Results: Goal reached This scenario does not allow you to reach your retirement goal.

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Expected retirement age

Start age for OAS

Âge de début de la rente Québec/Canada

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Calculation assumptions

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Contact an advisor

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Use our simplified tool on AccèsD

Make an appointment

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Learn more about retirement planning and ways to save