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- Pre-retirement rate of return = 4.5%
- Post-retirement rate of return = 3.0%
- Inflation rate = 2.0%
- Annual indexation of contributions = 2.0%
- Annual indexation of retirement benefits = 2.0%
- Longevity age = 95
- Contributions are assumed to be made at the end of each contribution period.
- Retirement benefits are assumed to be paid at the beginning of each year during retirement.
- The suggested and required contribution amounts, as well as the desired retirement budget, are expressed in today's dollars.
- The projected retirement savings balance and the required savings balance at retirement are expressed in future dollars.
Notes:
- The annual indexation of contributions and retirement benefits is linked to the inflation rate.
- The “longevity age” or final projection age is the age at which the savings are projected to be depleted, meaning the account balance reaches $0 and benefit payments cease.
- The “longevity age” represents the average of the ages that men and women have a 25% chance of reaching, assuming they have already survived to an age between 50 and 70. The underlying assumptions are based on the experience of pensioners in both public and private sector pension plans and may not be representative of the Canadian population as a whole. This measure is more conservative than the standard life expectancy measure, which is based on a 50% chance of reaching a given age. Using this higher age helps reduce the risk of members outliving their savings. The value is derived from the 2026 Projection Assumption Guidelines published jointly by the Institute of Financial Planning and FP Canada Standards Council™.
This calculator provides an illustration of possible savings scenarios, not a guarantee of future savings or retirement income. The dollar figures displayed are not guaranteed. Retirement savings may last for longer or shorter durations, depending on market conditions and how much income is withdrawn. It's important to review your retirement plan periodically to ensure you are on track to meet your goals. Contribution amounts may be subject to legislative requirements. Contributions and yearly retirement income do not include government plans such as OAS or CPP/QPP. Neither Manulife nor any of its agents, employees, or representatives is providing legal, tax, or investment advice with the display of this estimate.