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Retirement Savings Benchmarks by Age in Canada

How much should you have saved for retirement at 30, 40, 50, and 60? Canadian benchmarks with provincial context.

See How You Stack Up

Enter your details for a personalized retirement readiness score.

Age 30
RRSP Target
$30,000–$60,000
TFSA Target
$20,000–$40,000
Total Savings
$50,000–$100,000

1–2x salary. Focus on RRSP matching, paying off consumer debt.

Age 35
RRSP Target
$75,000–$140,000
TFSA Target
$40,000–$70,000
Total Savings
$115,000–$210,000

2x salary. Max TFSA room annually. Start thinking about investment strategy.

Age 40
RRSP Target
$150,000–$280,000
TFSA Target
$70,000–$120,000
Total Savings
$220,000–$400,000

3x salary. Accelerate savings — peak earning years ahead.

Age 45
RRSP Target
$260,000–$450,000
TFSA Target
$95,000–$160,000
Total Savings
$355,000–$610,000

4-5x salary. Start running retirement scenarios. Consider income splitting with spouse.

Age 50
RRSP Target
$400,000–$650,000
TFSA Target
$115,000–$200,000
Total Savings
$515,000–$850,000

5-6x salary. Peak earnings — maximize contributions. Consider catch-up RRSP.

Age 55
RRSP Target
$600,000–$950,000
TFSA Target
$135,000–$230,000
Total Savings
$735,000–$1,180,000

7-8x salary. CPP estimates available — start serious retirement planning.

Age 60
RRSP Target
$800,000–$1,300,000
TFSA Target
$155,000–$270,000
Total Savings
$955,000–$1,570,000

8-10x salary. Review CPP timing, OAS strategy. Finalize retirement date.

Age 65
RRSP Target
$900,000–$1,500,000
TFSA Target
$175,000–$310,000
Total Savings
$1,075,000–$1,810,000

10-12x salary. Full CPP, OAS eligible. Government income reduces portfolio need.

Methodology Note

Benchmarks are illustrative ranges for Canadian households with average incomes in their respective age brackets. They assume consistent savings since age 25, average investment returns of 6%/year, and TFSA room since eligibility. Individual circumstances vary significantly. Use the calculator above for your personalized assessment.

Next Steps

  1. 1
    Check your retirement readiness

    Compare your savings against these benchmarks