Canadian retirement planner comparison
Canadian retirement planning tools that actually know Canadian tax.
Most Canadians still plan retirement in a spreadsheet — because until recently, no consumer tool handled RRSP meltdown, OAS clawback, pension splitting, and 13 provincial tax codes properly. That's changed. Here are the 4 tools that take Canadian tax seriously.
Last verified: 2026-05-26. Competitor capabilities change — links go to their own pages.
TL;DR
cinder.fi
Full Canadian tax engine + budgeting + Plaid bank sync + real estate + optimizer — in one free tool. The only Canadian planner with a spending → retirement connection.
Optiml
Closest on tax depth. RRSP meltdown + OAS optimization + pension splitting. $10-50/mo. No budgeting, no bank sync, no free tier.
Adviice
Drawdown optimization + stress testing. $9/mo. Clean UX. No budgeting, no bank sync. 5,000+ users.
ProjectionLab
US-first tool with a Canada add-on. Only 4 provinces. Great UI. No meltdown optimization, no pension splitting.
The real competitor
Why not just use a spreadsheet?
Spreadsheets are how most Canadians plan retirement — because nothing else handled the tax rules. If your spreadsheet works, keep it. But here's what a spreadsheet can't do:
- • Run 1,000 Monte Carlo simulations in seconds
- • Sweep CPP age × meltdown × spending strategy simultaneously
- • Auto-sync your bank accounts via Plaid
- • Track your actual spending against your plan
- • Backtest against 150+ years of real market data
- • Update when tax brackets change (indexation happens yearly)
And here's what a spreadsheet can do that cinder.fi also does:
- ✓ Real provincial tax brackets (all 13)
- ✓ OAS clawback calculation
- ✓ RRSP meltdown bracket-filling
- ✓ CPP/OAS break-even analysis
- ✓ Pension income splitting optimization
- ✓ Year-by-year detailed projection table
cinder.fi is the spreadsheet, but interactive, visual, and connected to your bank. And free.
Pricing
What you actually pay
cinder.fi
Free tier
Full planner — projections, budgeting, 4 charts, Plaid (1 account), no account required
Paid
$12/mo or $99/yr
Trial
Free tier is the trial
Optiml
Free tier
Limited lite tier
Paid
$10/mo (Essentials) – $50/mo (Legacy)
Trial
14-day trial
Adviice
Free tier
—
Paid
$9/mo or $49/yr
Trial
30-day trial
ProjectionLab
Free tier
Forecast (can't save)
Paid
$109/yr or $799 lifetime
Trial
Free tier available
Feature parity
What each tool actually covers
Canadian retirement planning is mostly about tax — specifically, moving income between accounts, years, and spouses to minimize lifetime tax. These rows reflect that.
Canadian tax engine
Federal tax brackets
Progressive marginal rates with inflation indexation
cinder.fi
✓
Optiml
✓
Adviice
✓
PL
✓
Provincial / territorial brackets
All 13 jurisdictions with surtaxes
cinder.fi
yes (all 13)
Optiml
✓
Adviice
✓
PL
limited (ON/AB/BC/QC)
Age credit + pension income credit
Non-refundable credits that reduce tax in retirement
cinder.fi
✓
Optiml
✓
Adviice
✓
PL
Unknown
Capital gains inclusion (50%)
Half of realized gains taxable as income
cinder.fi
✓
Optiml
✓
Adviice
✓
PL
✓
Dividend tax credit (eligible + non-eligible)
Gross-up + credit for Canadian dividends
cinder.fi
✓
Optiml
✓
Adviice
Unknown
PL
Unknown
Quebec-specific rules
QPP, QST, provincial surtax, QPIP
cinder.fi
✓
Optiml
✓
Adviice
Unknown
PL
yes (QC preset)
Registered accounts
RRSP / RRIF
Tax-deferred with mandatory conversion at 71
cinder.fi
✓
Optiml
✓
Adviice
✓
PL
✓
TFSA
Tax-free growth and withdrawal
cinder.fi
✓
Optiml
✓
Adviice
✓
PL
✓
FHSA
First Home Savings Account ($8K/yr, $40K lifetime)
cinder.fi
✓
Optiml
Unknown
Adviice
—
PL
Unknown
LIRA / LIF
Locked-in pension transfers with min/max withdrawals
cinder.fi
✓
Optiml
✓
Adviice
Unknown
PL
Unknown
RDSP
Disability savings plan with LDAP withdrawals
cinder.fi
✓
Optiml
Unknown
Adviice
—
PL
—
Spousal RRSP
Income splitting via attribution rules
cinder.fi
✓
Optiml
✓
Adviice
✓
PL
Unknown
Contribution room tracking
RRSP / TFSA / FHSA room with carry-forward
cinder.fi
✓
Optiml
Unknown
Adviice
—
PL
—
Government benefits
CPP / QPP
Actuarial adjustment for early (60) vs late (70) claiming
cinder.fi
✓
Optiml
✓
Adviice
✓
PL
✓
OAS
Late deferral bonus (+0.6%/month from 65)
cinder.fi
✓
Optiml
✓
Adviice
✓
PL
✓
OAS clawback modeling
Recovery tax at 15% above $90,997 — plan around it
cinder.fi
✓
Optiml
✓
Adviice
✓
PL
Limited
GIS (Guaranteed Income Supplement)
Income-tested, non-taxable, 50% clawback on non-TFSA income
cinder.fi
✓
Optiml
Unknown
Adviice
Unknown
PL
Limited
Provincial supplements
GAINS (ON), SAFER (BC), ASB (AB), QPP enhancement (QC), SAIP (SK)
cinder.fi
yes (6 provinces)
Optiml
—
Adviice
—
PL
—
CPP break-even analysis
Visual: when does deferring CPP/OAS pay off?
cinder.fi
✓
Optiml
✓
Adviice
✓
PL
Unknown
Tax optimization strategies
RRSP meltdown (bracket-filling)
Draw RRSP early in low-bracket years before RRIF minimums
cinder.fi
yes (auto-bracket-fill)
Optiml
yes (3 aggressiveness levels)
Adviice
✓
PL
Limited
Pension income splitting
Automatic optimization of eligible income between spouses
cinder.fi
yes (auto-optimized)
Optiml
✓
Adviice
✓
PL
—
Multi-objective optimizer
Sweep CPP age × meltdown × spending × withdrawal order simultaneously
cinder.fi
✓
Optiml
Limited
Adviice
—
PL
—
RRIF minimum schedule
Mandatory withdrawal from 72 at escalating percentages
cinder.fi
✓
Optiml
✓
Adviice
✓
PL
✓
LIF max withdrawal
Province-specific maximum on locked-in fund withdrawals
cinder.fi
✓
Optiml
✓
Adviice
Unknown
PL
—
Stress testing & scenarios
Monte Carlo simulation
1,000+ randomized market paths
cinder.fi
yes (Pro)
Optiml
Unknown
Adviice
✓
PL
✓
Historical backtest (1871-present)
Test plan against 150+ years of real returns
cinder.fi
✓
Optiml
—
Adviice
✓
PL
Limited
Scenario comparison
Side-by-side "retire at 55 vs 60" on same chart
cinder.fi
✓
Optiml
Limited
Adviice
Unknown
PL
✓
Spending strategies
Fixed, Guyton-Klinger, VPW, custom
cinder.fi
✓
Optiml
—
Adviice
Unknown
PL
✓
Budgeting & bank sync
Budget plan with categories
Monthly targets feeding into projections
cinder.fi
yes (16 categories)
Optiml
—
Adviice
—
PL
—
Transaction import
RBC, TD, BMO, CIBC, Scotiabank CSV auto-detection
cinder.fi
✓
Optiml
—
Adviice
—
PL
—
Plaid bank sync
Auto-sync Canadian bank accounts + transactions
cinder.fi
yes (1 free, unlimited Pro)
Optiml
—
Adviice
—
PL
—
YNAB live sync
Pull budgets + transactions from YNAB API
cinder.fi
✓
Optiml
—
Adviice
—
PL
—
Spending feeds projections
Real spending → retirement date impact
cinder.fi
✓
Optiml
—
Adviice
—
PL
—
Real assets & platform
Primary home + mortgage + HELOC
Appreciation, payoff, downsizing, HELOC draw strategy
cinder.fi
✓
Optiml
Limited
Adviice
Unknown
PL
✓
Rental properties
Income, expenses, appreciation, sale with cap gains
cinder.fi
yes (up to 3)
Optiml
—
Adviice
—
PL
✓
Works without an account
Use immediately, data stays on device
cinder.fi
✓
Optiml
—
Adviice
—
PL
—
French-language interface
Critical for Quebec users — REER/CELI/RRQ labels
cinder.fi
✓
Optiml
—
Adviice
—
PL
—
Also works for Americans
Full US tax engine (401k, IRA, Roth, SS)
cinder.fi
✓
Optiml
—
Adviice
—
PL
✓
MCP API for AI agents
19 tools for Claude, ChatGPT, Cursor
cinder.fi
✓
Optiml
—
Adviice
—
PL
—
| Feature | cinder.fi | Optiml | Adviice | ProjectionLab |
|---|---|---|---|---|
| Canadian tax engine | ||||
| Federal tax brackets Progressive marginal rates with inflation indexation | ✓ | ✓ | ✓ | ✓ |
| Provincial / territorial brackets All 13 jurisdictions with surtaxes | yes (all 13) | ✓ | ✓ | limited (ON/AB/BC/QC) |
| Age credit + pension income credit Non-refundable credits that reduce tax in retirement | ✓ | ✓ | ✓ | Unknown |
| Capital gains inclusion (50%) Half of realized gains taxable as income | ✓ | ✓ | ✓ | ✓ |
| Dividend tax credit (eligible + non-eligible) Gross-up + credit for Canadian dividends | ✓ | ✓ | Unknown | Unknown |
| Quebec-specific rules QPP, QST, provincial surtax, QPIP | ✓ | ✓ | Unknown | yes (QC preset) |
| Registered accounts | ||||
| RRSP / RRIF Tax-deferred with mandatory conversion at 71 | ✓ | ✓ | ✓ | ✓ |
| TFSA Tax-free growth and withdrawal | ✓ | ✓ | ✓ | ✓ |
| FHSA First Home Savings Account ($8K/yr, $40K lifetime) | ✓ | Unknown | — | Unknown |
| LIRA / LIF Locked-in pension transfers with min/max withdrawals | ✓ | ✓ | Unknown | Unknown |
| RDSP Disability savings plan with LDAP withdrawals | ✓ | Unknown | — | — |
| Spousal RRSP Income splitting via attribution rules | ✓ | ✓ | ✓ | Unknown |
| Contribution room tracking RRSP / TFSA / FHSA room with carry-forward | ✓ | Unknown | — | — |
| Government benefits | ||||
| CPP / QPP Actuarial adjustment for early (60) vs late (70) claiming | ✓ | ✓ | ✓ | ✓ |
| OAS Late deferral bonus (+0.6%/month from 65) | ✓ | ✓ | ✓ | ✓ |
| OAS clawback modeling Recovery tax at 15% above $90,997 — plan around it | ✓ | ✓ | ✓ | Limited |
| GIS (Guaranteed Income Supplement) Income-tested, non-taxable, 50% clawback on non-TFSA income | ✓ | Unknown | Unknown | Limited |
| Provincial supplements GAINS (ON), SAFER (BC), ASB (AB), QPP enhancement (QC), SAIP (SK) | yes (6 provinces) | — | — | — |
| CPP break-even analysis Visual: when does deferring CPP/OAS pay off? | ✓ | ✓ | ✓ | Unknown |
| Tax optimization strategies | ||||
| RRSP meltdown (bracket-filling) Draw RRSP early in low-bracket years before RRIF minimums | yes (auto-bracket-fill) | yes (3 aggressiveness levels) | ✓ | Limited |
| Pension income splitting Automatic optimization of eligible income between spouses | yes (auto-optimized) | ✓ | ✓ | — |
| Multi-objective optimizer Sweep CPP age × meltdown × spending × withdrawal order simultaneously | ✓ | Limited | — | — |
| RRIF minimum schedule Mandatory withdrawal from 72 at escalating percentages | ✓ | ✓ | ✓ | ✓ |
| LIF max withdrawal Province-specific maximum on locked-in fund withdrawals | ✓ | ✓ | Unknown | — |
| Stress testing & scenarios | ||||
| Monte Carlo simulation 1,000+ randomized market paths | yes (Pro) | Unknown | ✓ | ✓ |
| Historical backtest (1871-present) Test plan against 150+ years of real returns | ✓ | — | ✓ | Limited |
| Scenario comparison Side-by-side "retire at 55 vs 60" on same chart | ✓ | Limited | Unknown | ✓ |
| Spending strategies Fixed, Guyton-Klinger, VPW, custom | ✓ | — | Unknown | ✓ |
| Budgeting & bank sync | ||||
| Budget plan with categories Monthly targets feeding into projections | yes (16 categories) | — | — | — |
| Transaction import RBC, TD, BMO, CIBC, Scotiabank CSV auto-detection | ✓ | — | — | — |
| Plaid bank sync Auto-sync Canadian bank accounts + transactions | yes (1 free, unlimited Pro) | — | — | — |
| YNAB live sync Pull budgets + transactions from YNAB API | ✓ | — | — | — |
| Spending feeds projections Real spending → retirement date impact | ✓ | — | — | — |
| Real assets & platform | ||||
| Primary home + mortgage + HELOC Appreciation, payoff, downsizing, HELOC draw strategy | ✓ | Limited | Unknown | ✓ |
| Rental properties Income, expenses, appreciation, sale with cap gains | yes (up to 3) | — | — | ✓ |
| Works without an account Use immediately, data stays on device | ✓ | — | — | — |
| French-language interface Critical for Quebec users — REER/CELI/RRQ labels | ✓ | — | — | — |
| Also works for Americans Full US tax engine (401k, IRA, Roth, SS) | ✓ | — | — | ✓ |
| MCP API for AI agents 19 tools for Claude, ChatGPT, Cursor | ✓ | — | — | — |
Frequently asked questions
› Why can't I just use a US retirement planner for Canadian accounts?
US planners (Empower, Boldin) don't model RRSP, TFSA, FHSA, LIRA, CPP, OAS, GIS, or provincial tax brackets. A "retirement planner" that doesn't know the difference between RRSP and 401(k) withdrawals — or that OAS gets clawed back at $90,997 — will give you numbers that are off by tens of thousands of dollars.
› Does ProjectionLab work for Canadians?
Partially. ProjectionLab has a Canada mode but only supports 4 provinces (Ontario, Alberta, BC, Quebec). It models RRSP/TFSA/RRIF and CPP/OAS, but doesn't have GIS, provincial supplements, pension splitting optimization, or RRSP meltdown bracket-filling. If you're in one of the 4 supported provinces and don't need those features, it's usable.
› What is Optiml and how does it compare to cinder.fi?
Optiml is the closest direct competitor in Canada — it models RRSP meltdown, OAS clawback optimization, CPP/QPP timing, pension splitting, and provincial tax brackets. It costs $10-50/month. The key gaps: no budgeting, no Plaid bank sync, no historical backtesting, no real estate modeling, and no free tier (only a limited lite version). cinder.fi includes all of those plus a multi-objective optimizer.
› Why do most Canadians use spreadsheets instead of a planning tool?
Because until recently, no consumer tool handled Canadian tax rules properly. US tools don't work. Advisor software (Snap Projections, NaviPlan) costs $50-200/month and isn't sold to consumers. Spreadsheets let you model your specific situation — but they can't run Monte Carlo, optimize across 8 dimensions, or connect to your bank. cinder.fi was built specifically to replace the Canadian retirement spreadsheet.
› Does cinder.fi handle Quebec accounts and labels?
Yes. Quebec users see REER/CELI/RRQ labels and get QPP-specific benefit calculations. The strategy system adapts account names, tax credits, and benefit rules per province — including Quebec's unique surtax, QPIP, and QPP enhancement schedule. Full French-language UI is available.
Plan by province
Built by the cinder.fi team. Where Optiml, Adviice, or ProjectionLab do something we don't, the row says so. If you spot something wrong, tell us. The "Unknown" rows are the most likely to be wrong.
Replace the spreadsheet.
Free plan. No credit card. All 13 provinces. French + English + Spanish.
Try cinder.fi free