Analyze your sources of retirement income

To retire comfortably, your retirement income should represent 70% of the gross annual income earned during your last three years of work.

Income sources can come from four main categories:

• Government plans
• Registered pension plans (pension fund)
• Your financial assets (TFSA and RRSP savings, non-registered investments and personal property)
• Other income

Government plans

Quebec or Canada Pension Plans (QPP and CPP)

• Mandatory public insurance plans.
• Paid to workers who have contributed the minimum amount and who apply for it.
• Annually-indexed monthly pension.
• Paid starting at age 60 (certain conditions apply).
• Amount varies according to the age you begin receiving it.
• Based on employment income declared in your name since 1966 or since your 18th birthday.

How much will I receive from the QPP/CPP?

Request your Statement of Contributions (CPP) and Statement of Participation (QPP) to see how much you might expect to receive at age 65.

Find out more about the Québec Pension Plan and the Canada Pension Plan

Old Age Security (OAS) Program

• Pension payable to anyone age 65 or older who applies for it and meets the residency requirements.
• Indexed quarterly.

How much will I receive from Old Age Security (OAS)?

See the Old Age Security Payment Rates to find out the maximum and average monthly payment rates.

Find out more about Old Age Security

Registered pension plans (pension fund)

Depending on where you work, you may belong to an employer-sponsored pension plan (defined benefit or defined contribution pension plan).
Since each plan is unique, make sure you get the plan specifics, such as age of eligibility for retirement, actuarial reductions, whether it's a QPP/CPP integrated plan and pension payment amount from your employer.

Your financial assets

Here we're referring to registered savings, non-registered savings, real estate and personal property.

Your personal assets come from a variety of sources (primary and secondary residences, income-producing property, a business, etc.). You may decide to divest yourself of these assets during retirement so that the proceeds of the sale, less applicable income taxes, generate investment savings to fuel your retirement plans.

NOTE: Income-producing personal holdings (e.g., rental or business income) must be taken into account in your planning as long as you own the asset.

The Your financial assets (PDF, 134 KB) calculation chart will help you take stock of your assets and determine the amount available to you at retirement. Be as precise as possible, as the results will serve as the basis upon which you determine your financial strategy upon retirement.