Determine your sources of retirement income

Objective: 70% - Private pension plans and other personal savings - Québec Pension Plan  - Old Age Security program

To maintain your standard of living in retirement, you will need to replace roughly 70% of your annual gross employment income. Why only 70%? Because your expenses will generally be lower in retirement.

However, that rule does not always apply. You have to consider your employment earnings and retirement projects. Depending on your personal situation, you may need to save a higher or a lower percentage. If you have big plans, you'll need to save more!

Sources of retirement income include:

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