Alberta Retirement Tax Planner

Enter your current balances, ages, and income sources. Amounts are in today's dollars — inflation adjustments are applied in the Assumptions tab.

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Person 1

Primary planholder

P1

Personal Details

First Name

Current Age

Retirement Age

Life Expectancy

Registered Accounts

RRSP Balance ($)

$

TFSA Balance ($)

$

LIRA/LIF Balance ($)

$

Pension DB Annual ($)

$

Annual defined benefit starting at retirement age

Non-Registered & Other

Non-Reg Balance ($)

$

Non-Reg ACB ($)

$

Adjusted cost base (for capital gains)

Other Annual Income ($)

$

Rental, part-time, annuity, etc.

Annual RRSP Contrib ($)

$

Until retirement age

Government Benefits

CPP at Age 65 ($/mo)

$

CPP Start Age

OAS Start Age

OAS Residency Factor

%

100% = 40yr+ Canada residence

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Person 2

Spouse / common-law partner

P2

Personal Details

First Name

Current Age

Retirement Age

Life Expectancy

Registered Accounts

RRSP Balance ($)

$

TFSA Balance ($)

$

LIRA/LIF Balance ($)

$

Pension DB Annual ($)

$

Annual defined benefit starting at retirement age

Non-Registered & Other

Non-Reg Balance ($)

$

Non-Reg ACB ($)

$

Other Annual Income ($)

$

Annual RRSP Contrib ($)

$

Government Benefits

CPP at Age 65 ($/mo)

$

CPP Start Age

OAS Start Age

OAS Residency Factor

%

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Retirement Income Target

Annual After-Tax Income Needed ($)

$

Combined household spending target in today's dollars

Spending Reduction After Age 80 (%)

%

Reduced mobility/travel in later years

Surplus Goes To

These assumptions drive all projections. Returns are nominal (before inflation). The model applies the 2026 federal and Alberta tax brackets, indexed annually by the bracket inflation rate below.

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Investment Return Assumptions

RRSP/RRIF Return

%

TFSA Return

%

Non-Reg Return (Total)

%

LIRA/LIF Return

%

Non-Reg: % as Capital Gains

%

Rest treated as interest/dividends

Non-Reg: % as Dividends

%

Canadian eligible dividends (grossed up)

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Economic Assumptions

CPI Inflation Rate

%

Adjusts spending target & gov't benefits

Tax Bracket Inflation

%

CRA typically indexes at CPI

CPP/OAS Annual Increase

%

Pension DB Annual Increase

%

TFSA Annual Room ($/yr)

$

RRSP Contribution Room

$

Additional room beyond annual contributions

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2026 Tax Parameters (Auto-Indexed Each Year)

Federal Tax Brackets (2026 Base)

$0 – $58,523	15.0%
$58,524 – $117,045	20.5%
$117,046 – $181,440	26.0%
$181,441 – $258,482	29.0%
Over $258,482	33.0%

Federal BPA: $16,452 | Age Amount: $8,396 | Pension Credit: $2,000

Alberta Tax Brackets (2026 Base)

$0 – $61,200	8.0%
$61,201 – $154,259	10.0%
$154,260 – $185,111	12.0%
$185,112 – $246,813	13.0%
Over $246,813	15.0%

Alberta BPA: $22,769 | No Alberta dividend tax credit modeled

Key Tax Credits & Thresholds

Pension income splitting (up to 50%)

OAS clawback modeling

Age amount credit (65+)

Pension income amount ($2,000)

TFSA contributions on surplus

OAS 2026: $742.31/mo (65-74), $816.54/mo (75+)
OAS Clawback: 15¢/$ above $95,323
RRIF Minimum: 5.28% at 71, rising to 20% at 95

Select which withdrawal strategies to model. Run all 5 to find the optimal approach for your situation. The tax savings difference between best and worst can be substantial over a 30+ year retirement.

S1

RRSP/RRIF First

Draw registered accounts first, preserve TFSA for last

S2

TFSA First

Draw TFSA early, let RRSP compound longer

S3

Bracket Optimizer

Fill tax brackets annually to minimize lifetime tax

S4

RRSP Melt-Down

Aggressively draw RRSP before 71 to reduce mandatory RRIF

S5

Proportional

Withdraw from all accounts proportionally each year

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Bracket Optimizer Settings (S3)

Target Federal Bracket to Fill To

Additional RRSP/RRIF withdrawals to fill bracket each year (excess goes to TFSA)

Start Optimization At Age

Also Apply to Spouse

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RRSP Melt-Down Settings (S4)

Annual Extra RRSP Withdrawal ($)

$

Over and above spending needs, until age 71

Excess Melt-Down Goes To

Melt-Down End Age

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Strategy Summary & Key Considerations

When RRSP-First Works Best

✓ Large RRSP relative to TFSA
✓ Expect income to rise later (CPP/OAS)
✓ TFSA investments are higher-returning
✗ Risk: large RRIF at 71 triggers clawback

When Bracket Optimizer Works Best

✓ Long gap between retirement and CPP/OAS
✓ Low income years before 65
✓ Time to shift assets tax-efficiently
✓ Usually the best strategy overall

When Melt-Down Works Best

✓ Very large RRSP (>$500K)
✓ Low income in early retirement years
✓ OAS clawback is a concern at 65+
✓ Spouse has lower income / large TFSA

Best Strategy

—

Run scenarios to see results

Max Tax Savings vs Worst

—

Lifetime federal + Alberta

Best Estate Value

—

Combined account balances at end of life

OAS Lost to Clawback

—

Best scenario (cumulative)

Press "▶ Run Scenarios" to see comparison

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Cumulative Tax by Scenario

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Account Balances Over Time (Best Scenario)

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Annual Tax Rate by Scenario

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After-Tax Income vs Target (Best Scenario)

Scenario: Person:

All amounts in nominal (future) dollars

Run scenarios first to see year-by-year detail

📋 Model Assumptions & Limitations: This tool is for educational planning purposes only and does not constitute tax or financial advice. Returns, inflation, and tax rates are projections. Non-registered account gains use a simplified capital gains and dividend model. Pension income splitting is modeled at the optimal 50% of eligible income where beneficial. RRIF mandatory minimums follow CRA prescribed rates. OAS clawback applies at 15¢/$ above the 2026 threshold of $95,323 (indexed annually). The model does not account for AMT, FHSA, RESP withdrawals, estate taxes, or probate. Consult a CFP and tax professional before making retirement decisions.