For a retirement without compromise

The main benefit of saving and financially preparing for retirement is to be able to continue doing what we love, without compromise!

Please wait...

See the video This link will open in a new window. on our YouTube channel.


Starting to save early pays off!

Taking easy steps daily can help you save big.

ReplacingByAmount saved per week
A cup of coffee at the caféA cup of coffee from home $3
Lunch at the restaurantA lunch from home $17
Annual savings

By investing these small amounts accumulated in a savings vehicle of your choice, you will put your money to work. The sooner you start putting money aside, the more time will work in your favor and the more the return generated by your investments will increase due to compound interest. The few dollars invested each week could be worth thousands of dollars once you retire.

Take a few minutes to calculate how much you need to save for retirement with SimulR, our simulator tool. It's as easy as 1-2-3.

Let time do its work for you

Savings period (duration)Amount invested per yearTotal investedAverage annual interest rateAmount accrued at age 65
Stephanie's caseFrom age 25 to 34 (10 years)$1000$10 0005% $57 080
Fred's caseFrom age 45 to 64 (20 years)$1000$20 0005% $34 700
Graphique Graphique

Good advice
Your financial situation will fluctuate and lead you to save a little more or a little less over time. In a difficult economic context, you will need to adjust your savings, that is normal. The important thing is to make a budget and review it regularly. Making room for savings is not an expense, it is an investment for you.

Planning for retirement:
one step at a time

Like any of your projects, retirement requires planning. Even if conditions are not always optimal to take action, the game is worth the effort!

Here are the steps to take to properly plan your retirement.


Do you like going to restaurants, going on trips or spoiling your loved ones? When you retire, you will still want to do so! You may wish to carry out many projects, such as going back to school or traveling. If you have ambitious projects or expensive hobbies, you should take this into account and financially plan your retirement accordingly!

Examples of retirement plans


spends her winters in an upscale apartment in Florida.
$20 000


lives for her grandchildren and spoils them a lot.


decided to enroll in a course at university.


Suzanne and Jack
have found a camping car and plan to drive across the country.
$200 000


enjoys painting and knitting.


is an avid outdoorsman and goes on a trip every year.
$10 000

You must establish the income you will need to carry out the retirement plan of your dreams or simply to maintain your standards of living once you retire.

To maintain his or her standard of living in retirement, a person will need around 70% of his or her average gross annual income from his or her last years of work, which are usually the years when the salary was highest. Depending on the age at which you wish to retire, your needs and your retirement plan, this percentage may be reviewed. For example, people who want to retire early and enjoy a long retirement should anticipate that they will need to save more.

Emma's example

During her retirement, Emma wishes to: Annual cost
travel 3 weeks per year in Canada $5000
do some gardening $500
continue to go out to restaurants and the cinema $4500
Total cost of her retirement projects $10 000
+Usual cost of living $25 000
=Income required during retirement $35 000

Make a personal budget. You will be able to determine your capacity to save.

In order to accumulate the amounts that will allow you to ensure the income you will need once you retire, you will have to set savings goals. If you have a good savings capacity, it is recommended that you save around 10% of your annual net income.

To properly evaluate your situation, use SimulR. This simulator tool will help you:

Emma's example

Emma wants to know how much she must save for her retirement. By using SimulR, Emma knows the approximate amounts of benefits she will receive, which will come from public retirement plans, as well as from the pension plan offered by her employer. She notes that she has very little personal savings accumulated.

Annual salary: $50 000
Annual income required for her retirement: $35 000
SimulR recommends that she saves: $115/month*

* This example was calculated by considering that these amounts will generate a 5% return until Emma retires at age 65.


Good advice
Please note that it is generally better to reduce or eliminate your debts before you start saving, especially when interest rates are high. Make sure you have an emergency fund for unforeseen events, and then think about saving for your projects and your retirement. Regularly review your budget and adjust your savings amount according to your current financial situation.

Here are five tips to help you achieve your goals and guide you easily regarding financial planning:

  1. Start saving as soon as possible. Time is on your side, don't waste it!
  2. Don't save blindly. Plan your savings according to your situation and your goals. If you feel the need, do not hesitate to be accompanied by a financial planner.
  3. Choose registered investment vehicles. In the long term, investment made to registered investments such as an RRSP or TFSA deliver greater returns because of their tax benefits. It is important to choose the vehicle (RRSP or TFSA) most appropriate to your fiscal situation.
  4. Find out to what you will be entitled. Regularly consult your Statement of Participation under the Québec Pension Plan (QPP) in My Account and find out about this plan for the terms and conditions. If you contribute to a pension plan offered by your employer, make sure you are familiar with its provisions. If you are a member of a private-sector pension plan, find out about this plan, check with your employer and remember to retrieve your Statement of Participation available in My Account. This Statement provides a wealth of information for you.

  5. Take into account the various financial risks related to retirement. The increase in the cost of living, the longevity risk and the other financial risks must be taken into consideration when planning your retirement. You could be retired longer than you think and the cost of goods and services will not be the same as today.

Good advice
Please note that, if planning your retirement befuddles or intimidates you, specialists are there to help, especially in the event of a difficult economic situation. Meet with a financial planner to guide you through your finances.

Financial planning for retirement does not end when you approach retirement. You must plan your withdrawal strategy. It will allow you to make sure you make the best decisions regarding the withdrawal of your investments, the age at which you should apply for your retirement pension under the QPP, your Old Age Security pension or your benefits under a pension plan offered by your employer. This will allow you to maximize your income and reduce financial risks as much as possible during your retirement.

If you are retired, it is important to review your withdrawal strategy in times of recession or tougher economic times.


Good advice
Evaluate your financial situation regularly, especially if your personal situation changes. You can thus ensure that your retirement project and plan are in synch with your situation.

How much will you receive from public programs?

Public retirement plans from the Government of Canada (Old Age Security program) and the Gouvernement du Québec (Québec Pension Plan) guarantee basic income in retirement. The income offered by public retirement plans vary according to your salary, the number of years during which you contributed and your age when you apply for a pension. They must be complemented by other sources of income from a workplace pension plan and/or your personal savings. This additional income is essential to ensure you have an adequate standard of living in retirement.

Jeff's example

  • Former employee of a medium-sized business
  • No pension plan offered by his employer
  • Little personal savings accumulated
  • Jeff always thought that government programs would be enough to allow him to maintain his standard of living and allow him to travel in retirement

Annual income at the end of his career

$49 000

Annual income required for his retirement (70%)

$34 300

Estimated annual retirement income in 2022

$17 270

  • $7780 from the Old Age Security (OAS)
  • $9490 from the Québec Pension Plan (QPP)

Missing income

$17 030

Tools to help you

The Statement of Participation: your best ally!

Consult your Statement of Participation under the Québec Pension Plan (QPP) in My Account. This is an essential tool that informs you of the amount of your contributions to the QPP and allows you to have an estimate of your pension amount according to the age at which you apply for it. The Statement provides a wealth of information, and your financial planner will need it to determine your situation.