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RRSP calculator
Are you saving enough in your RRSP?
This tool will help you see how changing what you put in your registered retirement savings plan (RRSP) can affect your retirement savings. It will also show you what would happen if you took money out before you retire.
Take 2 minutes to get your results.
Tell us about yourself:
years old
years old
Your
total savings at retirement will be: $538,512
Did you know that by saving an extra $25 a yeara monthbi-weeklya week, you could have $561,491 when you retire?
Learn how you can maximize your RRSP.
Review your results with an advisorYour total savings at retirement will be: $538,512
Did you know that by saving an extra $25 a yeara monthbi-weeklya week, you could have $561,491 when you retire?
Learn how you can maximize your RRSP.
Review your results with an advisor.Explore your savings:
Now that you know what you are saving, try some different numbers to see what you could save.
Retirement savings comparison
Raising your contributions to $525 a yeara monthbi-weekly a week will increase your total savings at retirement to $561,491.
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This estimate is based on the December 2021 federal and provincial tax rates.
Talk to an advisor about the best strategy for your RRSPs
An advisor can help you put together a retirement savings plan that is right for you.
Assumed rate of return
CloseRates of return can vary among different kinds of investments and investment styles. For the purposes of this tool, the suggested range is 2% – 7%*.
*For illustration purposes only;, your rate of return may vary. For example, if you have only stocks in your portfolio, you may see better than 7% return on your investment.
Assumptions
Close- The calculation in this tool assumes annual compounded growth.
- Your birth date is assumed to be January 1, and that is when you reached the current age selected. Contributions and withdrawals are assumed to occur at the end of the year. Savings results are based on end-of-year balances.
- RRSP contributions are assumed to continue to the retirement age you indicated. The requirement to close or convert your RRSP by the end of the year in which you turn 71 is ignored for the purposes of these calculations if you choose a retirement age that is past that point.
- The tax rate is your assumed marginal tax rate, which includes provincial and federal tax.
- The withdrawal amount selected after tax is automatically grossed up to account for the marginal tax rate you selected. For example, if you input a $10,000 withdrawal at a 30% marginal tax rate, $14,285.71 will be withdrawn from the RRSP.
- The results you received 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.
Estimated marginal tax rate
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