RRSP vs TFSA Calculator

Compare after-tax outcomes to see when an RRSP or TFSA is better for you.

Your Details

Basic Information

Province/Territory

Current Age

Retirement Age

Income & Contributions

Employment Income CAD

Annual Contribution Base amount (CAD)

After-tax amount you can contribute annually

Expected Return % per year (real, after inflation)

Real investment return after inflation (e.g., 4% if nominal return is 6% and inflation is 2%)

Retirement Income Details

CPP Years Contributed

Monthly CPP at 65 CAD

Find on your CPP Statement of Contributions. Current max: ~$1,364/month

Monthly OAS at 65 CAD

Current max: ~$713/month (2024).

Other Retirement Income Pensions, etc. (CAD per year)

Family & Tax Optimization

Married/Common-law (enable pension splitting)

Tax Credits

Age Credit and Pension Credit are automatically applied when eligible (age 65+ and RRIF withdrawals respectively).

Advanced Options (optional)

Include Disability Amount

TFSA Available Room (cap refund-to-TFSA) CAD

CPP Start Age

OAS Start Age

Accumulation Overview

Refund Strategy

Decumulation Scenario

Enter your details and click compare to see the projection

Year-by-Year Accumulation

Year	Age	Income	RRSP Contrib	TFSA Contrib	RRSP Balance	TFSA Balance	Marginal Rate
No calculations yet

Retirement Snapshot (Year 1)

CPP: $0

OAS: $0

RRIF Withdrawal: $0

TFSA Withdrawal: $0

Primary Income: $0

Spouse Income: $0

Tax on RRIF: $0

Net After-Tax (RRSP): $0

OAS Clawback: $0

Taxes (Total): $0

Expected Tax Rate (Year 1): 0%

Annual Taxes in Retirement

Age	CPP Income	OAS Income	Other Income	Primary Income	Spouse Income	Taxes (Primary)	Taxes (Spouse)	RRSP End Bal	TFSA End Bal
No calculations yet

RRSP vs TFSA: How to Think About It

When RRSP tends to win

You're in a higher tax bracket now than in retirement
You can split pension income with a lower-income spouse
Refunds are invested and not spent

When TFSA tends to win

You're in the same or lower bracket now vs retirement
Avoiding OAS clawback is a priority
You value tax-free flexibility and withdrawals

Disclaimer

This calculator is for educational purposes. It simplifies complex tax rules and may not reflect your exact situation. Consult a qualified professional for personalized advice.