How much should I have in my RRSP by age?

A common benchmark is 1× your salary by age 30, 3× by 40, 6× by 50, and 8–10× by 60. The average RRSP balance varies widely, but aiming for at least these multiples puts you on track for a comfortable retirement.

When can I start collecting CPP?

You can start collecting CPP as early as age 60 (with a permanent reduction of 0.6% per month before 65) or delay until age 70 (with a 0.7% per month increase after 65). The standard age is 65.

What is the difference between an RRSP and a RRIF?

An RRSP is a tax-deferred savings account you contribute to during your working years. A RRIF is what your RRSP converts to by December 31 of the year you turn 71 — you must withdraw a minimum amount each year, which is taxed as income.

Retirement – RRSP, CPP, OAS & Pension Planning (Canada)

Plan for a secure retirement with Canadian-focused calculators, RRSP/RRIF strategies, CPP and OAS guides, and savings benchmarks.

Retirement Calculators & Benchmarks

RRSP Calculator

Project your RRSP growth, tax savings, and retirement income.

Average RRSP Balance by Age

See how your RRSP compares to the Canadian average at every age.

Government Benefits & Pension Guides

CPP Guide

How the Canada Pension Plan works, contribution rates, and when to start collecting.

OAS & GIS Guide

Old Age Security and Guaranteed Income Supplement: eligibility, amounts, and clawbacks.

RRIF Guide

Minimum withdrawal rules, tax implications, and strategies for your RRIF.

Education Savings

RESP Guide

Registered Education Savings Plan rules, CESG grants, and contribution strategies.

Written by WealthVieu

WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.

The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy