*This website is for information purposes only and is not intended to provide specific individual financial, legal, investment, plan or tax advice. This website is designed to outline as simply as possible the main features of Common Wealth’s retirement plan for modest earners and is provided to you for your personal, non-commercial use. The Common Wealth calculator is for general illustrative purposes only. Common Wealth does not guarantee the accuracy, reliability or completeness of any information, formulas or calculations provided through the use of this calculator and accepts no liability for loss or damage of any kind that may be attributed to the use of this tool.

Common Wealth has made its best efforts to obtain the most accurate and timely information available. This information is complex and can change at any time, so if there is any discrepancy between the content of this website and the governing provisions of Common Wealth’s retirement plan for modest earners and the Income Tax Act (Canada), the governing authorities shall take precedence. Common Wealth reserves the right, at its sole discretion, to make changes or improvements to any of the information on this website, and to disable access to or discontinue, temporarily or permanently, any part or all of the Common Wealth website without liability or notice to you.

Assumptions of Calculator

  • Contributions increase by 2% per year
  • RRSP has fee of 2.2% (average Canadian mutual fund fee)
  • Common Wealth retirement plan has fee of 0.22% plus $7 per month (actual plan fees)
  • From age 65 to 90, member withdraws 4% per year from savings
  • Gross returns of 5.3% before age 65 and 4% after age 65 in both Common Wealth plan and RRSP
  • Member loses 50 cents of Guaranteed Income Supplement benefits for every dollar withdrawn from RRSP
  • Calculator does not factor in taxes