Canadian retirement planning · Updated August 8, 2026
Retirement Savings by Age in Canada
There is no reliable one-number target for every Canadian. Compare your own resources with your expected spending, pensions, public benefits and time horizon.
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Estimate your retirement nest egg, savings gap, withdrawal power, and long-term readiness.
Estimated value at retirement after savings, contributions, and investment growth.
Compared against a 25x annual spending target.
Use this with TFSA, RRSP, pension, CPP/OAS, and non-registered investment planning. This is a projection, not tax advice.
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Explore Command →What the official data can—and cannot—tell you
Statistics Canada's 2023 Survey of Financial Security measures family assets, debts and employer pensions. Its headline age table reports median net worth, not a universal retirement-savings balance by age. BankDeMark therefore does not present estimated age-by-age “averages” as official statistics.
For context, the survey reported a national median family net worth of $519,700. Among families whose major income recipient was 55–64, the median was $873,400. These figures include more than retirement accounts and should not be used as retirement targets.
Primary source: Statistics Canada, Survey of Financial Security, 2023.
A safer retirement comparison
- Estimate annual retirement spending in today's dollars.
- List expected employer pension, CPP and OAS income separately.
- Model registered and non-registered assets using conservative return and inflation assumptions.
- Stress-test taxes, longevity and a lower-return scenario.
- Confirm account room and benefit estimates with the relevant official service.
The CRA's 2026 RRSP dollar limit is $33,810, but personal room depends on prior income, pension adjustments and unused room. Check your notice of assessment before contributing. View CRA registered-plan limits.
Frequently asked questions
Is there an official average retirement savings table by age in Canada?
Statistics Canada publishes detailed family asset and debt data, but its 2023 headline age table reports median net worth, not a single retirement-savings balance for every age. Treat unsupported age-by-age savings figures cautiously.
What should count as retirement resources?
Depending on the planning question, resources may include RRSPs, TFSAs, employer pensions, non-registered investments and expected CPP or OAS income. Do not add unlike values without accounting for taxes and payment timing.
What is the 2026 RRSP dollar limit?
The CRA lists the 2026 RRSP dollar limit as $33,810. Your personal deduction limit can differ; verify it on your notice of assessment or CRA account.
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Official Canadian net-worth statistics and current registered-plan limits with primary sources.
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