RRSP retirement savings calculator

Estimate how much your RRSP will be worth at retirement. Enter your current savings, contribution amount and frequency, expected annual return, and years to retirement to see your projected balance.

Estimated balance in 25 years
$131,476.81
Total contributions
$65,000.00
Investment growth
$66,476.81

Your RRSP savings breakdown

Estimated RRSP balance

Your projected RRSP balance after 25 years of contributions and investment growth at 5% annual return.

$131,476.81
Total contributions

Your starting balance plus all new contributions over 25 years ($2,400 per year).

$65,000.00
Investment growth

The total return earned from compounding at 5% per year. The difference between your final balance and all money you put in.

$66,476.81
Growth percentage

Total investment growth expressed as a percentage of all contributions made (including your starting balance). Note that the donut chart shows growth as a share of your final RRSP balance, which is why it appears as a lower percentage there.

102.27%
Annual contributions

Your contribution amount converted to a yearly total based on monthly contributions.

$2,400.00

Year-by-year RRSP growth

How this RRSP calculator works

This RRSP calculator projects how your Registered Retirement Savings Plan will grow over time based on your current balance, regular contributions, expected annual return, and time horizon. Enter your details and click Calculate RRSP to see your estimated balance at retirement, broken down into total contributions and investment growth. The year-by-year chart shows exactly how compounding accelerates your savings over time.

The calculator assumes a consistent annual return applied to your balance each year. Results are based on your selected contribution frequency and expected rate of return, giving you a realistic projection for long-term planning. A balanced RRSP portfolio of Canadian equities, bonds, and international funds has historically returned around 5–7% annually over the long term. To see your take-home pay and how much you could realistically save, use our Ontario after-tax income calculator.

RRSPs are one of the most powerful tax-advantaged accounts available to Canadians. Contributions are tax-deductible — meaning they reduce your taxable income in the year you contribute — and all investment growth inside the RRSP is tax-sheltered until withdrawal. The 2026 RRSP contribution limit is 18% of your previous year's earned income, up to a maximum of $32,490. Any unused room carries forward indefinitely. For a personalized contribution strategy, consult a certified financial planner.

Frequently asked questions about RRSPs

Have a question about RRSPs or how the calculator works? Reach out and we'll do our best to help.

What is an RRSP?

An RRSP (Registered Retirement Savings Plan) is a Canadian government-registered account that allows you to save for retirement with tax advantages. Contributions reduce your taxable income, and investment growth is tax-deferred until you withdraw funds in retirement.

Should I contribute to an RRSP or a TFSA?

It depends on your income and when you expect to withdraw. RRSPs are generally better if you are in a higher tax bracket now and expect to withdraw in a lower bracket in retirement — you get a deduction today and pay less tax later. TFSAs are better if you expect your income to be similar or higher in retirement, or if you need flexibility to withdraw without tax consequences. Many Canadians benefit from contributing to both.

When does an RRSP convert to a RRIF?

You must convert your RRSP to a RRIF (Registered Retirement Income Fund) or annuity by December 31 of the year you turn 71. After conversion, you are required to withdraw a minimum amount each year, which is included in your taxable income.

What return rate should I use?

A common estimate for a balanced RRSP portfolio (mix of stocks and bonds) is 5–7% annually. Conservative portfolios heavy in bonds may return 3–4%, while equity-heavy portfolios have historically averaged closer to 7–9% over long periods. Your RRSP provider will typically present you with a range of investment options — from conservative choices like GICs and bond funds, to moderate balanced funds, to higher-risk equity or growth funds. The right mix depends on your age, risk tolerance, and how many years you have until retirement. Actual returns will vary based on markets and your investment choices.

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