Retirement – Personalized Insurance and Investment Solutions for Quebec Residents

Retirement Planning

Smart Retirement, Peaceful Life

Plan today, enjoy a secure tomorrow.

Why Plan for Retirement?

Retirement isn’t just stopping work — it’s a new phase with different needs and opportunities.

Good planning helps you:

The Retirement Income System in Canada

Retirement income typically comes from several sources — think of them as “pillars.” Relying on several pillars rather than one gives you more stability.

Key Plan Components — What You Need to Decide

Here are the core decisions or parts of your retirement plan:

When do you want to retire?
Age matters: retiring earlier means fewer working years, more years needing savings. Retiring later increases CPP/QPP / OAS amounts.
How much income do you need?
Estimate your expenses in retirement: housing, healthcare, travel, hobbies, family support. Compare to current spending. Inflation matters.
Where will income come from?
Public pensions, employer pensions, personal savings, part-time work, investment income. Plan how to balance/sequence them to minimize tax / maximize net income.
How to invest your retirement savings?
Early on, you can accept more risk (stocks, growth assets). As you approach retirement, shift toward more stable / lower risk assets. Diversification, fees, and withdrawals are important.
When and how to convert savings to income
When to convert RRSP to RRIF, whether to use annuities, how to withdraw from non-registered vs registered accounts, how to manage required minimum withdrawals, etc.
Tax planning & government benefits
How withdrawals affect taxable income, eligibility for OAS / GIS, clawbacks, age credits, etc. Use strategies to reduce taxes.

How Much Should You Have Saved?

Here are some common rules of thumb & examples:

Income replacement ratio
Many financial planners suggest aiming for ~60-70% of your pre-retirement income to maintain your lifestyle. But this depends on debts, housing, expenses.
Savings multiples
A common goal is to have saved 1× to 3× your income by age 40–50; 8×–10× by retirement, depending on when you retire and how much lifestyle you want.
Retirement duration
Think about your life expectancy. If you retire at 65 and live until 90 or more, that’s 25+ years of income to fund. Inflation, healthcare, and long-term care need consideration.

Common Retirement Tools & Accounts

Here’s a summary of key tools folks use in Canada for retirement saving / income:

RRSP (Registered Retirement Savings Plan)
Save for retirement, contributions are tax-deductible; grows tax-deferred. Must convert to RRIF or another income-vehicle by age 71.
RRIF (Registered Retirement Income Fund)
A vehicle to generate income from your RRSP savings once you retire. You withdraw funds, taxed as income, must meet minimum withdrawal amounts.
TFSA (Tax-Free Savings Account)
Flexible savings/investment vehicle: contributions aren’t tax-deductible, but withdrawals (including gains) are tax-free. Very useful for supplementing retirement income.
Pension Plans (Employer / Defined Benefit / Defined Contribution)
Many people will rely on an employer pension. Understand what you’re entitled to, whether it’s inflation-protected, and how it integrates with your personal savings.
Annuities / Guaranteed Income Products
Provide lifetime income streams—useful to cover basic essentials and reduce longevity risk. But come with trade-offs in flexibility and cost.

Example Scenarios

Jane starts saving in her 30s. She contributes regularly to RRSP and TFSA. She also invests part in growth assets. She delays CPP and OAS to increase monthly amounts. By 65, she has enough in RRIF / investments to replace about 70% of her working income, with extra for travel and hobbies.

Mark begins serious saving at age 50, still with mortgage and kids. He has less time for compounding. He aims to work part-time past 65, uses employer pension, maxes contributions in RRSP / TFSA, carefully manages withdrawal timing to reduce taxes.

Susan wants to retire at 60. She won’t need full income until 65. She keeps some savings liquid, uses investment income, draws from TFSA first, delays CPP/OAS until later to maximize benefit, chooses lower withdrawal rate from RRIF to preserve capital.

Risks & Challenges to Plan For

Risk / Challenge	Description
Longevity Risk	You may live longer than expected and outlive your savings.
Inflation Risk	The cost of living rises over time — especially for healthcare, housing, and food.
Market Risk / Sequence of Return Risk	Poor investment returns, especially early in retirement, can have a bigger impact if you’re withdrawing funds at the same time.
Healthcare & Long-Term Care Costs	These costs often rise with age and are frequently underestimated.
Regulatory / Tax Changes	Government benefits, tax rules, or pension laws may change over time.
Unexpected Expenses	Unplanned costs such as home repairs, family support, or emergencies can affect your retirement plan.

When should I start CPP / QPP, and what difference does timing make?

You can start as early as age 60 with permanent reductions, or delay until 70 for increased amounts.

Waiting later means higher monthly payments.

What is the difference between RRSP and TFSA in retirement? Which should I use first?

Each has pros/cons. RRSP contributions give current tax deduction; withdrawals taxable.

TFSA gives no deduction but withdrawals are tax-free. Many use both; strategy depends on your current & future tax rates, expected income, and goals.

How much can I safely withdraw from my savings each year without running out?

A common benchmark is the “4% rule” (withdraw 4% of your portfolio the first year, adjust for inflation), but that’s just a rule of thumb.

Your safe rate depends on your asset mix, expenses,
market conditions, lifespan.

How does taxing work in retirement?

Income from RRIF, CPP / QPP, employer pension is taxable. OAS has clawback thresholds for high income.

TFSA withdrawals are not taxed. Non-registered investment income (capital gains, dividends, interest) have their own rules.

Can I keep working part-time in retirement?

Yes, many people do. It provides income, delays full dependency on savings or public pensions, can reduce required withdrawals, helps with cash flow.

But work income may affect eligibility or amount of some benefits, depending on your province or pension plan.

How We Help You Plan a Secure Retirement

1 - Personalized Retirement Income Planning

We create a custom plan based on your retirement goals — when you want to retire, the lifestyle you envision, and your expected income sources — to ensure financial comfort and stability.

2 - Projection & Scenario Modelling

We run detailed simulations showing how different factors — like retirement age, savings rate, investment risk, or withdrawal strategy — can affect your future income and savings.

3 - Tax Optimization Strategies

Our experts help you maximize your after-tax income by using RRSPs, TFSAs, employer pensions, and smart timing of CPP/OAS benefits to minimize taxes in retirement.

4 - Investment & Portfolio Guidance

We guide you in building a balanced portfolio — choosing the right asset mix, managing risk, and planning effective withdrawals to make your money last longer.

5 - Ongoing Reviews & Adjustments

Life changes — and so should your plan. We regularly review and update your retirement strategy as your needs, market conditions, or family circumstances evolve.

Your retirement deserves more than hoping.

Let’s build a plan that gives you confidence & options.