3 Steps to a pension estimate!

We’ve heard your feedback over the years and we agree - there’s a better way to estimate your pension. That’s why we’re pleased to launch our new Pension Estimator for members. With our new Pension Estimator you can get an estimate of your future pension in just 3 easy steps, right here on our website!

Like your Annual Statement, our new Pension Estimator gives you an idea of your retirement income at 3 key retirement dates in the Plan – your earliest possible retirement ages (reduced and unreduced), and your ‘normal’ retirement age of 65. But unlike your Annual Statement, our interactive Pension Estimator lets you choose different retirement dates and ages so you can model as many retirement scenarios as you would like!

1-2-3!

Once you’ve read and accepted the Terms of Use, enter a few pieces of data and you’ll be well on your way to your estimates!

• Step 1: Start your estimate
  Let the Pension Estimator know if you’re using data from your annual statement or not, then enter your full-time or part-time status and your age.

• Step 2: Enter your earnings and pensionable service
  You can get this information from your most recent Annual Statement.
  No Statement? No problem! Simply provide the Pension Estimator with the data it needs. Then, help the Pension Estimator project your future earnings by selecting a rate of increase you think is appropriate.

• Step 3: Your pension estimates
  The Pension Estimator will take the data you have entered to calculate and project your pension. Your normal and early retirement pensions (if applicable) will be shown, along with the dates you could be eligible to receive them. You can even go one step further and customize your results, to get immediate estimates of your pension at the retirement dates or ages of your choice!

What the new Pension Estimator can’t do

Our new Pension Estimator is just that - a program that gives you an estimate of your future pension. To keep the new Pension Estimator simple, the calculation does not take into consideration factors such as interest rates, inflation protection and service purchases. In addition, the Pension Estimator uses data entered by you, including projections of your future earnings. As these factors are variable and will not be known until your actual retirement date, they are subject to change over time.

The results you receive from the Pension Estimator are not guaranteed – they are estimates only that you can use for general retirement planning. In fact, if you are within 5 years of retirement, we recommend you contact us directly for a pension estimate.

Our new Pension Estimator is just one of the new features on the redesigned CAAT Pension Plan website. We invite you to send us your feedback and let us know what you think!