The charts could use some text to explain what's going on and how the numbers were arrived at. Add explanatory text templated with color-coded numbers, based on user input. Something like this:
source
Chart 1: Annual Income for GIS Eligibility
If you cash out your RRSP BEFORE retiring, then your income used to determine how much GIS you're eligible for will be your CPP of CPPVAL plus your pension of PENVAL totalling TOTALVAL.
If you withdraw from your RRSP AFTER retiring, then it gets included in your annual income. Given Canadian GENDERVAL life expectancy of GENDERVAL-LIFEEXP and retirement age of RETAGE, you will have a estimated YRSRET in retirement. Assuming an even withdrawal rate from your RRSP throughout retirement, this will add RRSPINC to your income totalling NEWTOTALVAL.
Chart 2: Monthly GIS Entitlement
If you cash out your RRSP BEFORE retiring, then your income of TOTALVAL makes you eligible for a monthly GIS benefit of GISBEF.
If you withdraw from your RRSP AFTER retiring, then the RRSPINC increase in your income reduces your GIS payment by (GISBEF - GISAFT) resulting in a lower monthly benefit of GISAFT.
Chart 3: Annual GIS Entitlement
Translating the monthly GIS benefit to a yearly value, then cashing out your RRSP BEFORE retirement would result in an annual GIS benefit of (GISBEF*12).
On the other hand, cashing our the RRSP AFTER retirement would result in a lower annual GIS benefit of (GISAFT*12).
Chart 4: Total GIS in Retirement
You're eligible to start receiving GIS from age config.GISELAGE. Given Canadian GENDERVAL life expectancy of GENDERVAL-LIFEEXP and your retirement age of RETAGE, you will have a estimated YRSRETCALC in retirement while collecting GIS.
Multiplying your expected years of collecting GIS by your annual GIS benefit results in an estimated total benefit of (GISBEF12YRSRETCALC), if the RRSP is cashed out BEFORE retirement. If RRSP is cashed out AFTER retirement, total benefit would be (GISAFT12YRSRETCALC).
This means you could have DIFF more in GIS benefits by cashing out RRSP before retirement.
The charts could use some text to explain what's going on and how the numbers were arrived at. Add explanatory text templated with color-coded numbers, based on user input. Something like this:
source
Chart 1: Annual Income for GIS Eligibility
If you cash out your RRSP BEFORE retiring, then your income used to determine how much GIS you're eligible for will be your CPP of CPPVAL plus your pension of PENVAL totalling TOTALVAL.
If you withdraw from your RRSP AFTER retiring, then it gets included in your annual income. Given Canadian GENDERVAL life expectancy of GENDERVAL-LIFEEXP and retirement age of RETAGE, you will have a estimated YRSRET in retirement. Assuming an even withdrawal rate from your RRSP throughout retirement, this will add RRSPINC to your income totalling NEWTOTALVAL.
Chart 2: Monthly GIS Entitlement
If you cash out your RRSP BEFORE retiring, then your income of TOTALVAL makes you eligible for a monthly GIS benefit of GISBEF.
If you withdraw from your RRSP AFTER retiring, then the RRSPINC increase in your income reduces your GIS payment by (GISBEF - GISAFT) resulting in a lower monthly benefit of GISAFT.
Chart 3: Annual GIS Entitlement
Translating the monthly GIS benefit to a yearly value, then cashing out your RRSP BEFORE retirement would result in an annual GIS benefit of (GISBEF*12).
On the other hand, cashing our the RRSP AFTER retirement would result in a lower annual GIS benefit of (GISAFT*12).
Chart 4: Total GIS in Retirement
You're eligible to start receiving GIS from age config.GISELAGE. Given Canadian GENDERVAL life expectancy of GENDERVAL-LIFEEXP and your retirement age of RETAGE, you will have a estimated YRSRETCALC in retirement while collecting GIS.
Multiplying your expected years of collecting GIS by your annual GIS benefit results in an estimated total benefit of (GISBEF12YRSRETCALC), if the RRSP is cashed out BEFORE retirement. If RRSP is cashed out AFTER retirement, total benefit would be (GISAFT12YRSRETCALC).
This means you could have DIFF more in GIS benefits by cashing out RRSP before retirement.