Generate Your Retirement Benefit Report
Review your projections, planning alerts, and benefit timing insights in one place.
The Reporting tab summarizes your estimated retirement benefit projection and highlights key planning issues. It can help you identify years where certain benefits may be reduced, unavailable, delayed, clawed back, or affected by household income.
Download or save your report so you can review your estimated retirement income plan, compare scenarios, and discuss the results with your advisor. This report is for educational and planning purposes only — your actual benefits may differ.
Retirement Benefit Optimizer™
Ontario · Age 60 · single · Generated 2026-05-15
Income view: Spouse 1
Totals projected from your current age (60) to age 100, in today's dollars after the indexing assumptions used in this tool.
CPP timing — what your CPP could look like at 60, 65, or 70
Estimated from your contribution history — verify on My Service Canada Account. Projected with 2% annual CPI indexing from 2026 base amounts. You picked: CPP at 65 · OAS at 65 · OAS residency 40 of 40 years in Canada after age 18.
Special years to watch — when benefits start, change, or get clawed back
OAS starts at age 65
1975
Estimated $9,845/yr in OAS (after any recovery tax).
GIS estimated at age 65
1975
$13,318/yr in Guaranteed Income Supplement based on income entered.
RRSP must convert to RRIF by Dec 31 of age 71
1981
After this point, mandatory minimum withdrawals begin and add to taxable income.
OAS 10% age-75 boost
1985
OAS payments increase by 10% the month after you turn 75.
Additional benefits to confirm with Service Canada or your advisor
This tool estimates CPP, OAS and GIS based on the information you entered. The items below are additional federal and provincial benefits that may apply to your situation but are not automatically calculated here. Use this as your action list — call Service Canada (1-800-277-9914), your provincial seniors' office, or a financial advisor to confirm what you qualify for.
Federal survivor and family benefits to ask about
Known provincial senior benefits in Ontario
These programs exist for Ontario seniors. Eligibility isn't calculated here — use this list as a memory-jogger to confirm with each program directly.
- GAINS (Guaranteed Annual Income System) — Monthly top-up for low-income Ontario seniors receiving OAS/GIS.
- Ontario Drug Benefit (ODB) — Prescription drug coverage for Ontarians 65+.
- Ontario Senior Homeowners' Property Tax Grant — Up to $500/yr to help low/moderate-income senior homeowners with property tax.
- Ontario Trillium Benefit (OEPTC component) — Energy and property tax credit for low/moderate-income residents.
- Seniors' Public Transit Tax Credit — Refundable credit for transit costs for residents 65+.
- Ontario Seniors Care at Home Tax Credit — Refundable credit for medical/care expenses, residents 70+.
Visual explainers — How income affects OAS & GIS
Trace the chain from income earned → taxable income → benefits clawed back → monthly payment.
What changed this year (age 65)
- Income up $23,163 vs age 64.
- OK
1. Income sources entered
Everything you receive in the year — work, pensions, rental, RRIF, investments.
Total cash flow this year: $23,163.
- OK
2. Taxable income & net-income review
CRA totals the taxable portion. This is the figure used for benefit clawbacks.
Taxable income: $9,845 · Estimated tax: $0.
- OK
3. OAS recovery (clawback)
If net world income passes the OAS threshold, 15% of the excess is recovered.
No OAS recovery this year. OAS: $9,845/yr.
- OK
4. GIS adjustment sensitivity
GIS phases out as countable income rises (OAS itself is excluded).
GIS estimated: $13,318/yr at countable income $0.
- OK
5. Resulting monthly government benefit
What lands in the bank account each month from CPP + OAS (after recovery) + GIS.
Approx. $1,930/mo from government benefits at age 65.
- OK
6. Suggested next step
Where to focus the conversation with your advisor or Service Canada.
No clawback flagged this year. Keep CPP/OAS estimates current in My Service Canada Account each year.
Educational only. Verify exact OAS/GIS amounts with Service Canada (My Service Canada Account) and confirm tax figures with a qualified tax professional.
A plain-language map of common money "containers" and how each one tends to interact with tax, GIS, OAS, liquidity, and safety. Educational only — not a recommendation.
| Container | Tax impact | GIS clawback risk | OAS clawback risk | Liquidity | Safety / volatility | Notes / typical use |
|---|---|---|---|---|---|---|
Bank savings account Open liquidityCDIC-protected | Short-term cash buffer. Not a long-term home for large balances. | |||||
TFSA LiquidTax-free growth | Often the most benefit-friendly container in retirement. | |||||
Insurance GIA / Daily interest Assuris-protectedLiquid | Often used for guaranteed-rate buckets and estate-bypass with named beneficiary. | |||||
Segregated funds Maturity/death guaranteesMarket growth | Used for estate-bypass via beneficiary designation and downside guarantees. | |||||
RRSP / RRIF Tax-deferredLong-term growth | RRSP must convert to RRIF by Dec 31 of age 71. Plan withdrawal sequencing carefully. | |||||
Interest-bearing investments YieldOften liquid | Tax-inefficient outside of TFSA/RRSP. Consider container choice carefully. | |||||
Rental property cash flow IlliquidLong-term appreciation | Cash in your bank ≠ taxable rental income. See rental example below. |
- Tax impact
- GIS risk
- OAS risk
- Liquidity
- Safety
Short-term cash buffer. Not a long-term home for large balances.
- Tax impact
- GIS risk
- OAS risk
- Liquidity
- Safety
Often the most benefit-friendly container in retirement.
- Tax impact
- GIS risk
- OAS risk
- Liquidity
- Safety
Often used for guaranteed-rate buckets and estate-bypass with named beneficiary.
- Tax impact
- GIS risk
- OAS risk
- Liquidity
- Safety
Used for estate-bypass via beneficiary designation and downside guarantees.
- Tax impact
- GIS risk
- OAS risk
- Liquidity
- Safety
RRSP must convert to RRIF by Dec 31 of age 71. Plan withdrawal sequencing carefully.
- Tax impact
- GIS risk
- OAS risk
- Liquidity
- Safety
Tax-inefficient outside of TFSA/RRSP. Consider container choice carefully.
- Tax impact
- GIS risk
- OAS risk
- Liquidity
- Safety
Cash in your bank ≠ taxable rental income. See rental example below.
Rental example — taxable income ≠ cash in your bank
A common surprise: rental income reported on your tax return can be much higher than the cash actually left after the mortgage payment.
- Mortgage interest is generally deductible against rental income.
- Mortgage principal is not deductible — it leaves your bank account each month but doesn't reduce taxable rental profit.
- Result: net cash flow may be near zero while CRA still sees taxable rental income, which can push net income across the OAS recovery threshold and reduce GIS.
Educational only — confirm specific deductions and capital cost allowance treatment with a tax professional.
Educational only — verify with your advisor and a qualified tax professional. No outcomes are guaranteed.
CPP, OAS & GIS indexing clock
Indexed annually using CPI. Adjustments take effect each January.
Reviewed quarterly using CPI. Months: Jan / Apr / Jul / Oct. Cannot decrease if CPI falls.
Part of OAS program. Reviewed quarterly. Also affected by income & marital status.
Year-by-year projection
| Year | Age | CPP | OAS net | GIS | RRIF/Pen | Other tax. | Non-tax. | Total | Taxable | Status |
|---|---|---|---|---|---|---|---|---|---|---|
| 1970 | 60 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Review |
| 1971 | 61 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Review |
| 1972 | 62 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Review |
| 1973 | 63 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Review |
| 1974 | 64 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Review |
| 1975 | 65 | $0 | $9,845 | $13,318 | $0 | $0 | $0 | $23,163 | $9,845 | OK |
| 1976 | 66 | $0 | $10,042 | $13,318 | $0 | $0 | $0 | $23,360 | $10,042 | OK |
| 1977 | 67 | $0 | $10,242 | $13,318 | $0 | $0 | $0 | $23,561 | $10,242 | OK |
| 1978 | 68 | $0 | $10,447 | $13,318 | $0 | $0 | $0 | $23,765 | $10,447 | OK |
| 1979 | 69 | $0 | $10,656 | $13,318 | $0 | $0 | $0 | $23,974 | $10,656 | OK |
| 1980 | 70 | $0 | $10,869 | $13,318 | $0 | $0 | $0 | $24,187 | $10,869 | OK |
| 1981 | 71 | $0 | $11,087 | $13,318 | $0 | $0 | $0 | $24,405 | $11,087 | OK |
| 1982 | 72 | $0 | $11,308 | $13,318 | $0 | $0 | $0 | $24,627 | $11,308 | OK |
| 1983 | 73 | $0 | $11,535 | $13,318 | $0 | $0 | $0 | $24,853 | $11,535 | OK |
| 1984 | 74 | $0 | $11,765 | $13,318 | $0 | $0 | $0 | $25,083 | $11,765 | OK |
| 1985 | 75 | $0 | $13,201 | $13,318 | $0 | $0 | $0 | $26,519 | $13,201 | OK |
| 1986 | 76 | $0 | $13,465 | $13,318 | $0 | $0 | $0 | $26,783 | $13,465 | OK |
| 1987 | 77 | $0 | $13,734 | $13,318 | $0 | $0 | $0 | $27,052 | $13,734 | OK |
| 1988 | 78 | $0 | $14,009 | $13,318 | $0 | $0 | $0 | $27,327 | $14,009 | OK |
| 1989 | 79 | $0 | $14,289 | $13,318 | $0 | $0 | $0 | $27,607 | $14,289 | OK |
| 1990 | 80 | $0 | $14,575 | $13,318 | $0 | $0 | $0 | $27,893 | $14,575 | OK |
| 1991 | 81 | $0 | $14,866 | $13,318 | $0 | $0 | $0 | $28,184 | $14,866 | OK |
| 1992 | 82 | $0 | $15,163 | $13,318 | $0 | $0 | $0 | $28,482 | $15,163 | OK |
| 1993 | 83 | $0 | $15,467 | $13,318 | $0 | $0 | $0 | $28,785 | $15,467 | OK |
| 1994 | 84 | $0 | $15,776 | $13,318 | $0 | $0 | $0 | $29,094 | $15,776 | OK |
| 1995 | 85 | $0 | $16,092 | $13,318 | $0 | $0 | $0 | $29,410 | $16,092 | OK |
| 1996 | 86 | $0 | $16,413 | $13,318 | $0 | $0 | $0 | $29,732 | $16,413 | OK |
| 1997 | 87 | $0 | $16,742 | $13,318 | $0 | $0 | $0 | $30,060 | $16,742 | OK |
| 1998 | 88 | $0 | $17,077 | $13,318 | $0 | $0 | $0 | $30,395 | $17,077 | OK |
| 1999 | 89 | $0 | $17,418 | $13,318 | $0 | $0 | $0 | $30,736 | $17,418 | OK |
| 2000 | 90 | $0 | $17,766 | $13,318 | $0 | $0 | $0 | $31,085 | $17,766 | OK |
| 2001 | 91 | $0 | $18,122 | $13,318 | $0 | $0 | $0 | $31,440 | $18,122 | OK |
| 2002 | 92 | $0 | $18,484 | $13,318 | $0 | $0 | $0 | $31,802 | $18,484 | OK |
| 2003 | 93 | $0 | $18,854 | $13,318 | $0 | $0 | $0 | $32,172 | $18,854 | OK |
| 2004 | 94 | $0 | $19,231 | $13,318 | $0 | $0 | $0 | $32,549 | $19,231 | OK |
| 2005 | 95 | $0 | $19,616 | $13,318 | $0 | $0 | $0 | $32,934 | $19,616 | OK |
| 2006 | 96 | $0 | $20,008 | $13,318 | $0 | $0 | $0 | $33,326 | $20,008 | OK |
| 2007 | 97 | $0 | $20,408 | $13,318 | $0 | $0 | $0 | $33,726 | $20,408 | OK |
| 2008 | 98 | $0 | $20,816 | $13,318 | $0 | $0 | $0 | $34,134 | $20,816 | OK |
| 2009 | 99 | $0 | $21,233 | $13,318 | $0 | $0 | $0 | $34,551 | $21,233 | OK |
| 2010 | 100 | $0 | $21,657 | $13,318 | $0 | $0 | $0 | $34,975 | $21,657 | OK |
GIS-adjusted income excludes OAS and applies the employment/self-employment exemption where applicable.
Advisor notes
- Your CPP figure is estimated from contribution quality, not your real Service Canada record. Log into My Service Canada Account to get your exact CPP estimate, then enter it on the CPP & OAS Timing page.
- GAINS (Guaranteed Annual Income System) — Monthly top-up for low-income Ontario seniors receiving OAS/GIS. Ontario Drug Benefit (ODB) — Prescription drug coverage for Ontarians 65+. Ontario Senior Homeowners' Property Tax Grant — Up to $500/yr to help low/moderate-income senior homeowners with property tax. Ontario Trillium Benefit (OEPTC component) — Energy and property tax credit for low/moderate-income residents. Seniors' Public Transit Tax Credit — Refundable credit for transit costs for residents 65+. Ontario Seniors Care at Home Tax Credit — Refundable credit for medical/care expenses, residents 70+.
Disclaimer
This report is an educational projection based on information entered and publicly available government benefit rules. Actual CPP, OAS, GIS, survivor benefits, dependent children's benefits, Allowance for the Survivor, CPP death benefit, CPP credit splitting, tax results, and provincial benefits may vary based on Service Canada records, contribution history, residency, marital status, taxable income, dependent-child status, future legislation, and CRA interpretation. This is not tax, legal, accounting, actuarial, or insurance advice. Clients should verify CPP/OAS estimates through My Service Canada Account and consult a qualified tax professional before making income, withdrawal, or benefit-timing decisions.