We have two online tools designed to help you plan for your desired level of income in retirement. Investment retirement planner salary you’ve entered your personal data, the tool will show you a range of possible investment outcomes.
However, the figures quoted are only projections based on certain generic assumptions and the actual results may differ depending on investment performance and prevailing economic conditions. It does not offer any guarantees of investment performance or the retirement income you may receive. The tool allows you to explore three options that are available when you choose to take your benefits although there are other options that you should be aware of before you make any decisions. Helping you to understand your options, the service is available face-to-face, over the telephone or online.
Secondly our attitude to risk tool helps you understand the level of risk you’re prepared to take for the returns you hope to achieve. Depending on your responses, it will give you one of ten risk profiles. As the tool can’t take into account your individual circumstances or preferences we suggest you check the description to ensure it’s right for you. To help you understand your investment options and make decisions that are right for you we provide information on funds in the Fund Zone. Find out more about pensions and retirement options in the Learning Zone and Frequently Asked Questions.
We are unable to give you personal advice. The tools take into account your choices but the results are not based on any assessment of your needs. If you have any queries or want more information, we recommend that you speak to a financial adviser. Please note financial advisers will normally charge for their services. We encourage you to revisit the tool from time to time – at least once a year – to monitor the progress of your savings and ensure you’re on track to achieve your objectives. As the tools open in a new window, please ensure you have pop-ups enabled in your browser.
If you are using Internet Explorer, you may need to select to ‘Allow Blocked Content’ to view this calculator. For more information about these these financial calculators please visit: Dinkytown. Financial Calculators from KJE Computer Solutions, Inc. This calculator assumes that the year you retire, you do not make any contributions to your retirement savings.
So if you retire at age 65, your last contribution occurs when you are actually 64. This calculator also assumes that you make your entire contribution at the end of each year. If you are married, this should include your spouse’s income. Include all sources of retirement savings except for your pension income.
The actual rate of return is largely dependent on the type of investments you select. If you plan on withdrawing your money within five years, you may wish to choose a more conservative rate of return. This amount is based on your income earned during the last year you will work. 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. QPP ensures a basic income for retired workers. QPP, you are entitled to receive a monthly pension payment as early as age 60 or as late as age 70.
The Old Age Security pension is a monthly benefit available, if applied for, to most Canadians 65 years of age or over who have lived in Canada for at least 10 year after reaching age 18. If your net income exceeds certain thresholds you must repay part or all of the maximum pension amount. The repayment amounts are normally deducted from the monthly payments before they are issued. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. Will you have enough to retire?