Canadian Retirement Calculator
The best way to get an idea of how much you’ll have in retirement is to use a Canadian pension calculator. These tools allow you to calculate your expected income in retirement by taking into account your annual savings, projected rate of return and your current age.
They can also help you compare your Retirement Planning Tool income options. For example, the Canadian government offers a Canada Pension Plan (CPP) calculator that helps you estimate how much your future CPP benefits will be. You can choose to begin receiving your CPP at the standard retirement age of 60 or you can delay until age 70. If you delay, you’ll receive a larger pension.
You can also find a cost of buying prior service calculator and an estimate of your Old Age Security (OAS) benefits. These tools are free to use and can give you a better idea of what to expect once you retire.
Maximize Your Golden Years with Exponent’s Expert Retirement Strategies
If you’re looking for a more comprehensive retirement planning solution, it might be worth meeting with a Certified Financial Planner. They’ll be able to look at your entire finances, identify your goals and create a strategy to help you reach them so that you can enjoy a worry-free retirement.
The average life expectancy is rising, so it’s important to save as much as you can from early on in your career. The more you put away, the less you’ll have to rely on your future pensions and OAS benefits in retirement.
