How much do I need to retire?
Tell it what you want to spend each year in today's dollars. It subtracts your CPP, OAS and any pension, grows the gap with inflation, and works out the savings you need on your first day of retirement.
Assumptions
- Defaults use the Canada.ca 2026 figures: CPP $858.34/month average at 65 (July 2026) and $1,507.65 maximum (January 2026); OAS $762.50/month maximum at 65 to 74 (October to December 2026), plus 10% from 75. Replace them with your own estimate from My Service Canada Account.
- CPP is changed by 0.6% per month before 65 (36% less at 60) and 0.7% per month after 65 (42% more at 70). OAS starts at 65 here; deferral is not modelled.
- CPP, OAS, pensions and your spending all rise with inflation. Withdrawals happen at the start of each year. Income is before tax, so include what you will owe in tax.
- OAS is reduced (clawed back) above a net-income threshold ($93,454 for 2025) and needs 40 years in Canada after 18 for the full amount. GIS is not included.
General information, not financial advice. This calculator gives rough estimates from simplified assumptions. It does not know your full situation. Check with a qualified professional and the official sources before making decisions.
Sources
- Canada.ca: CPP retirement pension amounts (max $1,507.65 at 65, Jan 2026; average $858.34, July 2026)
- Canada.ca: When to start your CPP pension (0.6%/month reduction before 65, 0.7%/month increase after)
- Canada.ca: OAS payment amounts, October to December 2026 ($762.50 at 65 to 74; $838.75 at 75+)
Figures checked October 16, 2026. Rules and limits change; confirm with the source before acting.
Related
All retirement calculators: how much you need · am I on track · monthly withdrawal · how long savings last · CPP start age · RRIF minimum.