The retirement plan calculator will assist you in setting your retirement goals and creating a plan to reach those goals as well as viewing the payout schedule.
Complete the following fields to calculate the outcome:
Current Age
Enter your current age
Age of Retirement
Enter the age you would like to retire
Gross Annual Income
Enter your gross annual income
Current Retirement Savings
Enter the amount you currently have invested in retirement plans
Rate of Return before Retirement
Enter the interest rate your investments are currently earning
Rate of Return During Retirement
Enter the interest rate you expect to receive on your investments during your retirement years
Percent of income to contribute
Enter the percentage amount of your pay that is currently being contributed to your pension
Expected Salary Increase
Enter the percentage that you figure your pay will increase annually until retirement
Years of Retirement Income
Enter the number of years you expect to use your retirement income
Percent of Income at Retirement
Enter the percentage, of your last years income prior to retirement, that will needed to support your lifestyle. This percentage can be as low as 50% or as high as 150%
Monthly Company Pension
Enter your current monthly pension figure as provided by your employer on your pension statement. By checking the "Monthly Company Pension adjusted for inflation" box, the inflation rate will automatically be applied. This means you do not have to estimate what your monthly pension will be at retirement.
Monthly CPP or QPP Pension
Enter the monthly amount you expect to receive from the Canada Pension Plan or Quebec Pension Plan
Monthly OAS
Enter the monthly amount you expect to receive from Old Age Security
Begin CPP or QPP at age
Enter the age at which you started to contribute to the Canada Pension Plan or the Quebec Pension Plan
Expected rate of Inflation
Enter the annual percentage that you feel will be the cost of inflation
Should you check the Adjust for Inflation boxes for Company Pension, CPP or QPP Pension or OAS Pension this will automatically calculate the annual percentage
adjustment for these items.
Upon input completion you have two options
Calculate button will display the Retirement Plan breakdown for the values you entered.
View Report Button will provide you with a hard copy of the Retirement Plan breakdown for the values you entered