A 35-year-old with $60,000 saved who adds $800 a month can draw about $3,125 a month from age 65 to 90, at today’s prices. Add CPP and OAS and the total reaches $4,736. Change any input below to test your own plan.
How does the projection work?
It grows your savings to your retirement age, then spreads them across the years you choose to plan for. The return it uses is after inflation, so every dollar shown buys what a dollar buys today, which makes the result easy to hold up against your current spending. CPP and OAS are added on top from age 65.
That “today’s dollars” idea trips people up. A $3,125 cheque in 2056 will look bigger on paper, but it’s meant to buy what $3,125 buys now. If your rent and groceries cost $4,000 a month today, compare the result to that, not to some future sticker price.
What are the 2026 pension amounts?
These are the figures the calculator leans on. The CPP numbers match the federal CPP payment amounts page.
| Item | Amount |
|---|---|
| Largest CPP at 65 (January 2026) | $1,507.65 a month |
| Average CPP for new pensioners at 65 | $858.34 a month |
| Full OAS, ages 65 to 74 (July to September) | $751.97 a month |
| Full OAS, ages 65 to 74 (October to December) | $762.50 a month |
| Full OAS, age 75 and over (October to December) | $838.75 a month |
| RRSP dollar limit | $33,810 |
| TFSA limit for the year | $7,000 |
Is the default plan enough?
It starts at 35 with $60,000, saving $800 a month at a 5.5% return with 2.2% inflation. At 65 the savings are worth $642,794 at today’s prices. You put in $348,000 of that, counting the $60,000 already saved, and growth supplies the rest. The pot pays $3,125.30 a month until 90. Add $858.34 of CPP and $751.97 of OAS and income is $4,735.61. Against a $4,500 target, you’re $235.61 a month ahead.
Now halve the saving to $400 a month. The pot falls to $400,329, total income drops to $3,556.73, and you’re $943.27 short. Saving $400 less turns a small surplus into a big gap. Or keep the saving and lower the return to 3.5%: that gives $3,316.67 a month, a shortfall of $1,183.33.
What if the plan comes up short?
Don’t panic. A shortfall is a prompt to adjust one lever, not a verdict, and most plans that look short at 35 can be fixed with a mix of small changes made early. You can save more each month, retire later, plan for fewer years or aim for lower spending. Change one input at a time and you’ll see which lever moves the result most.
Retiring at 60 instead of 65 in the default plan cuts the pot to $502,808, and the monthly gap grows to $2,317.55. The calculator shows no government pension in that case.
Say Marcus in Winnipeg runs the default plan and lands $943 short at $400 a month. He doesn’t need a miracle. Moving back up to $800 a month turns the shortfall into a surplus, and if that’s too tight on a paycheque, he can try a smaller bump and check what a few extra years of work does.
Where does the estimate fall short?
Tax on your withdrawals isn’t included, so what you can actually spend is lower. Returns are a single steady number, whereas real markets rise and fall. If you retire before 65, the result shows two lines: income from savings alone before 65, and savings plus CPP and OAS from 65. Use the government amounts as an average guide only, since your own depends on your work record, and check it against the CPP calculator.
The plan age matters too. Choosing 90 leaves a cushion for a long life, and each extra year you plan for lowers the monthly income a little. Treat the answer as a ballpark, then rerun it every year or two as your balance and your life change.
How do you sharpen the inputs?
Look up your own pension with the CPP calculator and the OAS calculator, then type the results into the CPP and OAS fields. Your savings may sit in an RRSP, whose tax effect the RRSP tax savings calculator shows, or in a TFSA that grows free of tax. The TFSA calculator finds your room.
Which mistakes skew the answer?
- Leaving inflation at zero. The tool takes a return and an inflation rate separately, so the default 5.5% return with 2.2% inflation works out to about 3.2% at today’s prices. Drop the inflation and the result looks rosier than it is.
- Counting the average CPP when you know you’ll earn less or more than average.
- Forgetting that the target is before tax, so ask what you need to spend, not what you earn now.
Sources, and how we checked them
CPP and OAS amounts come from the federal pension pages and the quarterly tables for 2026. The rest is arithmetic on the values you enter. Results are estimates, and this website has no tie to any government body.
About this calculator
- What it does
- Project your savings at retirement and the monthly income they can pay, with CPP and OAS added.
- Category
- RRSP and Retirement
- Last checked
- September 30, 2026
- Result type
- Estimate for information only, not tax advice.
Frequently asked questions
How much do I need to retire?
It depends on what you spend. Enter the monthly amount you want and the calculator shows any shortfall or surplus.
Why are amounts shown at today's prices?
The calculator works with the return after inflation, so results compare directly with what you spend now.
How much is CPP at 65?
The average for new pensioners is $858.34 a month. The largest amount in January 2026 is $1,507.65.
Is tax included?
No. Tax on withdrawals is left out, so what you can spend will be lower than the result.
What if I retire before 65?
CPP and OAS aren't added in that case. Add your own estimate for the years after 65.
Sources and updates
Updated: . How we check rates · Editorial team · Updates