Retirement calculator
How much should I save for retirement? The answer is different for everyone. It depends on each person's situation and retirement goal. The retirement simulator below will give you an estimate.
For your retirement, you will have saved
The retirement income estimate is provided for information purposes only and in no way constitutes a guarantee. The results displayed are calculated based on the information provided and the assumptions made by iA Financial group (Industrial Alliance).
Frequently Asked Questions
How much money do I need to retire?
The answer is different for everyone. It depends on each person's situation and retirement goal. Financial planning experts estimate that to maintain a standard of living, you need a retirement income of at least 70% of the gross salary you were receiving before retirement. Use the retirement simulator to get an estimate.
How do I calculate my retirement income?
To calculate the amount of your pension, you need to estimate the annual income you want to achieve in retirement, bearing in mind that this is generally between 60% and 80% of your current gross income. Several factors also come into play: your retirement plans, your current expenses, the length of your retirement, and unforeseen events. Assess the impact such events would have on your finances. You can then set up a realistic emergency fund for your retirement.
How do I calculate for retirement?
Preparing for retirement requires considering several aspects: finances, physical and mental health, social life, and free time. You’ll need to factor these in while making your calculations. We invite you to use the retirement calculator to help you get an estimate.
Federal Old Age Security pensions, government plans such as the Canada Pension Plan, and, in Quebec, the Quebec Pension Plan, will only provide a basic income, to which you will need to add other savings.
What is the best calculator for retirement?
We encourage you to use the retirement calculator to help you estimate how much you will need for retirement and to better prepare for this important milestone.