Retirement

Retirement Income

Retirement income can come from several layers, including public pensions, workplace pensions and personal savings.

4 min

Retirement 101 • 02

Retirement income usually comes from more than one place.

Canada’s retirement system can combine government benefits, employer plans and your own assets.

Each source follows different rules.

Some payments are lifelong, some depend on income, and some come from assets you control.

Common retirement income sources include

01CPP or QPP02OAS and possibly GIS03Employer pensions04RRSP or RRIF withdrawals05TFSA withdrawals06Non-registered savings and investments

Guaranteed and market-based income are different.

01

Pension or benefit

May provide recurring payments under program or plan rules.

02

Investment portfolio

Value and available withdrawals depend on the assets and market outcomes.

Several smaller sources can form one retirement paycheque.

CPPSource 1
OASSource 2
Employer pensionSource 3
Personal savingsSource 4

Not every retiree has every layer.

Work history, residence, employer benefits, savings and income all affect which sources are available.

Build an income map by listing

01Source02Expected start age03Whether it is taxable04Whether the amount can change05How long it may last

Remember this

Retirement income is a stack, not one account.

Understanding each layer makes the total plan easier to manage.

Lesson complete

Reviewed 2026-08-18

Sources

Financial Consumer Agency of CanadaRetirement planning ↗Financial Consumer Agency of CanadaAnnuities ↗
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