Spreadsheet: 862014d1709818039-reverse-calculation-retirment-calculator-excel
Sheet: Summary

 | Fill in fields in blue only. Results not valid if blue fields are not populated.
 | Base Data | Spouse 1 |  | NET INCOME CALCULATION (See Yearly Income Table tab for years 2+)
 | Date of Brith (YYYY-MM-DD): | 1964-01-01 00:00:00 |  |  | Spouse 1
 | Date joined pension plan (YYYY-MM-DD): | 1983-01-01 00:00:00 |  |  | Immediately pre-retirement | Year 1 Post-retirment
 | Planned retirement date (YYYY-MM-DD): | 2024-10-26 00:00:00 |  | Salary
 | Current Age |  |  | Total pension income (PSSA+CPP+OAS)
 | Age at Retirement |  |  | Pension after splitting for tax purposes
 | Today's date: |  |  | Non-registered investment income
 | Years until retirement: |  |  | RRSP income
 | Persionnable service at retirement (years): |  |  | TFSA income
 |  |  |  | Income Tax
 |  |  |  | Witholding tax transfer for pension splitting
 | ECONOMIC CONDITIONS |  |  | CPP contributions
 | Forecasted average yearly salary increase until retirement: | 0.021 |  | EI contributions
 | Forecasted average yearly CPI increase (inflation) | 0.021 |  | Pension contributions
 | Forecasted average yearly investment rate of return (OPEN) | 0.034 |  | RRSP contributions
 | Forecasted average yearly investment rate of return (TFSA) | 0.034 |  | TFSA contributions
 | Forecasted average yearly investment rate of return (RRSP) | 0.034 |  | Non-registered investment contributions
 |  |  |  | Net income
 |  |  |  | % net income replaced at retirement
 | INVESTMENTS (Current value) | Spouse 1
 | Non-registered(Open): | 100000 |  |  | Spouse 1
 | TFSA: | 100000 |  | Net present value (NPV) of accrued pension benefits:
 | RRSP: | 100000 |  | Theoretical NPV of full pension
 |  |  |  | Present [NAME] value of additional pension benefits
 | INVESTMENTS (Yearly contribution going forward)
 | TFSA: | 6500
 | RRSP: | 0 |  | Notes:
 | Non-registered: | 0
 |  |  |  | 1) The calculator assumes that salary for every year of service exceeded the CPP Maximum Yearly Pensionalbe Earnings (This should be the case for virtually all full-time PS employees)
 | INVESTMENT RETURN TIMELINE | Spouse 1 |  | 2) The calculator does not account for any CPP contributions made outside of Public Service employment.  CPP income may be higher if CPP contributions outside PS employment were made
 | Years post-retirement for TFSA and RRSP draw-down to zero | 25 |  | 3) All post-retirement taxable income is calculated at the standard rate.  If non-registered investment income is from capital gains or dividends, actual income tax amounts may be lower than calculated
 |  |  |  | 4) Calculator does not account for tax credits for dependants, age, disability, charticable donations, etc.  Should those apply, actual income tax will be lower.
 | RESIDENCY |  |  | 5) If pension splitting is used, individual tax amounts are only for tax filing purposes and not representative of actual deductions on pension earnings.
 | Pre-retirement province/territory of residence | QC |  | 6) The calculator assumes that all reference amounts are indexed to CPI (Inflation)  These  include: Basic personal amount tax credit,  CPP and EI maximum insurable earnings, OAS clawback threshold, CPP and OAS maximum bebefits.
 | Post-retirement province/territory of residence | QC |  | 7) The calculator assumes constant tax rates, but with tax brackets indexed to CPI (inflation).  Should this not be the case (as in Nova Scotia presently), income tax will be higher than estimated.
 |  |  |  | 8) The calculator does not account for some differences between the CPP and QPP for residents of Quebec.
 |  |  |  | 9) CPI (inflation) and investment rate of return is assumed to be constant over the duration of the calculator.
 |  |  |  | 10) Amounts paid for participation in the Public Service Heath and Dental Care plans are not included (pre- or post-retirement)
 | First Withdrawal | 50000 |  | 12) The calculator assumes no eligibility for the federal Guaranteed Income Supplement and full eligibility for OAS
 | Initial Withdrawal |  |  | 11) CPP benefits are calculated on a pro-rated basis using years of service (requirement for maximum CPP amount is 39 years of contributions at maximum amount)
 | Number of Payouts
 | Age at Last Payout
 | Final Payout
 | Total Interest Earned
 | Total Withdrawals
 | these formulas are from Retirement-withdrawl file