Calculator Instructions

  1. Select Required Principal option.
  2. Set Withdrawal Amount to your current monthly net earned income.
  3. Leave Withdrawal Frequency set to monthly.
  4. Set Length of Annuity to reflect number of years income you need to replace.
  5. Set Annual Growth Rate to what you would expect an investment to reasonably earn. If you are not sure use 6%

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Insurance Glossary

Locked-in Retirement Account (LIRA): An arrangement similar to a locked-in RRSP. Some provinces have replaced the locked-in RRSP with the LIRA.



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