This calculator is designed to help you prepare for retirement by giving you some idea of what your financial future might look like. Please note that all calculations and estimates are for illustrative purposes only and are not a guarantee. Your actual retirement income, the age for which your savings are projected to last and the estimated contribution percentage may be higher or lower depending upon the actual performance of your investments. Please note as well that this retirement calculator does not take into account the tax treatment of your savings nor the taxes that may be owed on amounts paid to you. It is recommended that you consider speaking to a tax advisor.
When forecasting your retirement income, be sure to consider the additional income you may receive from other sources, including but not limited to government-administered plans such as the Canada Pension Plan (CPP), Old Age Security (OAS) and the Guaranteed Income Supplement (GIS). If you need assistance finding these numbers, feel free to speak to an Open Access Client Relations Representative at 1-(866) 625-4777.
Please remember that there are many factors that come into play in calculating the monthly income you can or may wish to draw during your retirement, such as life expectancy, investment returns, and inflation. You’ll notice that some of the questions are about events that will take place in the future, in some cases a long time in the future. This means that the numbers turned out by this calculator, while insightful, are for illustrative purposes only and may not be accurate. Neither Open Access nor any of its employees or representatives are providing legal, tax, or financial advice.
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SAVINGS AND CONTRIBUTIONS:
Current Annual Earnings (pre-tax):*
Expected Annual Salary Increases:*
Expected Retirement Age:*
Expected Investment Return (net of fees):*
ENTER TWO OF THE FOLLOWING:
Desired Monthly Retirement Income (pre-tax):
Estimated Life Expectancy (yrs):
Annual Contributions to your Retirement Fund: (as a % of your pre-tax annual earnings)
The Open Access Limited Retirement Calculator estimates your retirement savings over time based on the accuracy and completeness of the information you enter and on the future accuracy of certain assumptions. The results are intended for illustrative purposes only and not a guarantee. Neither Open Access nor any of its employees or representatives are providing legal, tax, or financial advice. Your actual retirement income, the age for which your savings are projected to last and the estimated contribution percentage may be higher or lower depending upon the actual performance of your investments.
I understand the above disclaimer*
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