Question 1

Is Retirely free to use?

Accepted Answer

Yes. Retirely is completely free with no sign-up required. It is a Canadian retirement scenario tool, not financial advice.

Question 2

What Canadian accounts does Retirely model?

Accepted Answer

Retirely models RRSP, TFSA, and non-registered accounts, plus CPP, OAS, GIS, defined benefit pensions, and provincial retirement supplements across all 10 provinces.

Question 3

Does Retirely support couples?

Accepted Answer

Yes. Retirely has a full couple mode with pension income splitting, income equalisation optimisation, and separate account tracking for both partners.

Question 4

Which provinces does Retirely support?

Accepted Answer

Retirely supports all 10 Canadian provinces with province-specific tax brackets for 2025, including Ontario, British Columbia, Alberta, Quebec, Saskatchewan, Manitoba, Nova Scotia, New Brunswick, Prince Edward Island, and Newfoundland.

Question 5

When should I take CPP?

Accepted Answer

Retirely lets you compare CPP starting at 60, 65, or 70 side by side. Taking CPP at 60 reduces it by 36% permanently. Deferring to 70 increases it by 42%. The breakeven vs. starting at 65 is typically around age 74–76 for deferral to 70. Your optimal age depends on your health, other income sources, and RRSP balance.

Question 6

What is the RRIF minimum withdrawal?

Accepted Answer

Your RRSP must convert to a RRIF by age 71. Minimum withdrawals start at 5.28% of the balance at age 71 and rise to 20% by age 95. Retirely models mandatory RRIF minimums automatically and shows how they affect your taxable income and portfolio in each scenario.

Question 7

How does pension income splitting work in Canada?

Accepted Answer

Canadian couples can split up to 50% of eligible pension income (RRIF withdrawals at 65+, DB pension, annuity income) with a lower-income spouse to reduce combined household tax. Retirely automatically optimises the pension income split each year to minimise your total tax bill.

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