Have you ever wondered what your financial future looks like in retirement? Need help visualizing? Start by building your very own personalized retirement income plan with our new and improved online myCSSPEN Compass® Retirement Income Planner. 

This simple, do-it-yourself (DIY) tool will enable you to take control of your financial future by creating a retirement plan just for you. It will help you:  

• See if your savings will be enough to support you throughout your retirement 

• Understand if you are on track towards achieving your retirement savings goals 

• See the impact that making changes to your savings, retirement dates and other factors will have on your retirement plan  

For best results, have the following information handy: 

• Your current income (before taxes) 

• Your contribution amounts and balances for each of your registered and non-registered savings accounts, including TFSAs, RRSPs and other pension accounts 

• Other assets or sources of income during your retirement, such as part-time employment, rental income, etc.  

You can also input your investor profile, spousal assets and expenses (if planning retirement with a partner), and other supporting information to help determine if you are on track.  

“The nice thing about that tool is that it’s a good starting place for understanding how it all works, and then you can sort of dig into the details a bit further after that,” Nicole, CSS member. 

Once you’ve input all the necessary information, the myCSSPEN Compass® tool will create a detailed personalized retirement plan just for you and will categorize it into one of three scenarios:  

• On Track  

• • If you are on track, continue your current savings and investment strategy and you should be able to meet your retirement goals.    

• Slightly Off Track or Off Track   

• • If you're slightly off track or significantly off track, don't worry! You can make adjustments to your plan to get back on course. For example, you could increase your savings contributions, delay your retirement age or consider alternative investment strategies.   

Note, this is an estimate, and your actual retirement income may vary based on factors like investment returns and future contributions. 

What’s great about the tool is you can experiment with different scenarios; by making small adjustments, you can see how it can impact your overall retirement plan.  

It’s also important to remember, your retirement journey is dynamic and life circumstances can change. Your financial goals may evolve, so it's important to review your retirement plan regularly and make adjustments as needed. 

How to access the myCSSPEN®  Compass Retirement Income Planner 

As a CSS member, you have complimentary access to myCSSPEN Compass® when you log into your myCSSPEN account. 

If you do not have an account, register through myCSSPEN for members online. All you need is your Member ID*, last 3 digits of your SIN and your birthdate.  

* You can find your Member ID on your annual statement or contact us at 1-844-427-7736. 

Once logged into myCSSPEN, click Account Menu> Tools and Calculators> myCSSPEN Compass® and input your information. 

Also, please take a moment to watch our myCSSPEN Compass® video for a more in-depth tutorial on how to use the tool to help you generate a highly personalized retirement plan.