Budget Beavers Retirement Projection CPP + OAS
Accumulation → drawdown with CPP/OAS safety floor, clawback detection, and sensitivity slider.
About you
Government benefits
Portfolio & Government Income — Age 35 to 95
Blue line = portfolio balance · Green band = annual government + pension income (safety floor) · Vertical lines at key ages
The math behind your result
Every number on this page is derived from the exact Canadian regulatory formula — not approximations or estimates. The calculation runs entirely in your browser using the inputs you provided. Expand the section below to verify the math step-by-step, or share the URL to reproduce these exact results.
▶ How is this calculated?
Accumulation phase (current age → retirement)
Monthly: balance = balance × (1 + monthlyRate) + contribution monthlyRate = (1 + annualRate)^(1/12) − 1 (geometric compounding)
Drawdown phase (retirement → 95)
Each year: govIncome = CPP + OAS (net of clawback) + pension gap = max(0, annualSpending − govIncome) Portfolio shrinks by gap over 12 months at postRetirementReturn
CPP early/late start adjustment
Before 65: adjusted = expected × (1 − 0.006 × months_before_65) [max −36% at 60] After 65: adjusted = expected × (1 + 0.007 × months_after_65) [max +42% at 70] Source: Service Canada 2025
OAS clawback (CRA 2025)
If income > $93,454: clawback = (income − 93,454) × 15% Net OAS = max(0, gross OAS − clawback) Threshold CPI-indexed annually. Source: CRA T1 line 23500
About the Retirement Projection Calculator
Why CPP and OAS matter more than most calculators show
Most online retirement calculators ignore or drastically simplify CPP and OAS — because they're built for American users whose Social Security system works quite differently. For Canadians, CPP and OAS together can provide $1,600–$2,200/month of inflation-indexed, guaranteed income for life. That's the "safety floor" shown in green on the chart above. Getting the start age right is a 20-year decision worth hundreds of thousands of dollars.
CPP start-age tradeoffs
Taking CPP at 60 instead of 65 reduces your benefit by 36% permanently. At 65 you receive the full base amount. Delaying to 70 increases it by 42%. If you're in good health, the math often favors delaying — but the right answer depends on your health, tax situation, and whether you need the cash earlier. This calculator lets you drag the slider and see the impact immediately.
The OAS clawback
If your net income in retirement exceeds $93,454 (2025), CRA will claw back 15¢ of OAS for every dollar above that threshold. OAS is fully eliminated at ~$151,668. The clawback is sometimes called the "social benefits repayment" (CRA line 23500). It surprises many Canadians who have large RRSP balances and are forced into high withdrawals at RRIF conversion age (71). This calculator flags when clawback is likely.
Limitations of this projection
This calculator uses a constant-rate growth model and does not account for: sequence-of-returns risk (bad returns early in retirement are much more damaging than the average suggests), inflation erosion of spending power, taxes on RRSP/RRIF withdrawals, provincial drug/benefit programs for seniors, or the impact of a DB pension's indexing provisions. A Monte Carlo simulation (Phase 2) would give you a probability distribution of outcomes rather than a single line.
Related calculators
- TFSA vs RRSP — which account to draw from first in retirement
- Canadian Income Tax Calculator — model your retirement income tax bill
- Compound Interest Projection — detailed projection of a single account
Not financial advice. This calculator provides estimates for informational and educational purposes only. CPP/OAS amounts are 2025 figures and are CPI-indexed annually. RRSP/RRIF withdrawal tax, provincial benefits, and inflation are not modelled. Always consult a fee-only financial planner before making retirement decisions. All calculations happen in your browser — no data is sent to any server.