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:
Quebec or Canada Pension Plans (QPP and CPP)
How much will I receive from the QPP/CPP?
Old Age Security (OAS) Program
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
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.
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.