Get an estimate of your lifetime pension from the CAAT Plan in three easy steps.
Your pension estimate will be based on the data that you enter. With your birth date, and your service and earnings in the Plan, you can see your estimated pension at three key retirement dates.
There are a number of resources to help you use the Estimator.
- If you’re not sure about your service and earnings, it’s a good idea to refer to your most recent Annual Statement.
- The "Help" files can guide you through the tool.
When you have completed an estimate of your lifetime pension from the CAAT Plan, try the Total Retirement Income tool. It shows your estimated lifetime CAAT Plan pension, and lets you estimate your income from Canada Pension Plan (CPP) and Old Age Security (OAS).
Who should use the Pension Estimator? This estimator is for members of the CAAT Pension Plan who are full-time employees, including any full-time employees who work at ROM. If you are a full-time employee who works at YSB and joined the pension plan on or after January 1, 2018, you can use this estimator. If you joined YSB before 2018, you should contact the CAAT Plan for a pension estimate.
Are you an OTRFT member of the CAAT Pension Plan? Use the DBplus Estimator
Estimating and projecting your total retirement income in the future is complex, so the Estimator makes various simplifications and assumptions in order to make such projections. You can read about them in the "Help" file under “Projections, Assumptions, and Limitations.” (Click "Help" in the top right corner of the Estimator for more.)
If you are within 5 years of retirement, you can contact the CAAT Pension Plan for an estimate.
To use the Estimator, please read and accept the Terms of Use.
The Pension Estimator was developed to provide basic pension estimates for members who are in full-time employment as of December 31, 2018. Results are based on data provided by you, and are neither reviewed nor verified by your employer or the CAAT Pension Plan.
- Your actual entitlement to a pension, and its amount, will be officially calculated by the CAAT Pension Plan only at the date of your retirement and in accordance with the applicable terms of the CAAT Pension Plan.
- If there is a discrepancy between the Pension Estimator and the Plan Terms, the Plan Terms will prevail.
- The data you enter into the Pension Estimator is not saved or sent to the CAAT Pension Plan or your employer.
- These estimates are not binding on the CAAT Pension Plan, or your employer, and furthermore, use of the Pension Estimator does not imply entitlement to a pension.
- You can learn more about the assumptions used by this Estimator in “Help”.
The Total Retirement Income tool shows your estimated lifetime pension from the CAAT Plan, and lets you estimate your income from Canada Pension Plan (CPP) and Old Age Security (OAS).
- Use of the Total Retirement Income tool does not imply an entitlement to either Canada Pension Plan (CPP) benefits, or Old Age Security (OAS) benefits, and are in no way a guarantee of future income.
- The Total Retirement Income tool is based on information available at the Government of Canada website as of August 2018.
- Your actual entitlement to government pensions, and the amounts will be officially calculated by Service Canada (an agency of the Government of Canada) at the time you apply for them.
The results received from this Pension Estimator and the Total Retirement Income tool should not be considered financial advice.
Income Tax Act Maximum Pension
The Pension Estimator does not apply the Income Tax Act (ITA) maximum pension cap. As the CAAT Pension Plan is a registered pension plan, it can only pay pensions up to the ITA maximum pension.
If, upon retirement, your actual pension were to exceed the ITA maximum then in effect, the excess pension above the maximum would be paid out of the CAAT Retirement Compensation Arrangement (CAAT RCA) if your employer participates in the CAAT RCA and only to the extent you have CAAT RCA eligible service. Note that you are not entitled to any CAAT RCA benefits in respect of purchased or transferred service unless the service has been separately purchased under the CAAT RCA. Purchases and transfers into the CAAT RCA would be transactions separate from those under the CAAT Pension Plan and are costed on a different basis than the CAAT Pension Plan.
To find out more about the CAAT RCA, RCA eligible service, and the employers participating in it, click here.
Important information for OTRFT members:
Effective January 1, 2019, all OTRFT members will join DBplus by the CAAT Pension Plan. It has different contribution rates and a different pension formula than the current Plan design.
Estimates provided by the Pension Estimator assume that you continue working and accruing a pension under the current Plan design until your retirement dates. If you are an OTRFT member, your pension accrual will change on January 1, 2019, that assumption is not valid. Therefore, the pension estimate from this estimator will not accurately reflect your ultimate pension from the CAAT Pension Plan which would be made up of a pension from the current Plan design, and a pension from DBplus. Be sure to visit the new DBplus Estimator, so you can estimate your combined pension from the current Plan design, and DBplus, at any retirement date you choose.
Note: If you are a full-time member, your pension will not change.
Discover how DBplus will maximize the lifetime pensions of OTRFT members.
Ready to start?
To simplify your data entry, we recommend using the information found on your most recent Annual Pension Statement.
If you have questions as you're inputting your data, be sure to use the "Help" files on the right.
The Estimator includes two versions: one for CAAT Plan members, and one for CAAT Plan members who were members of the ROM Pension Plan on December 31, 2015.
- If you are a member of the CAAT Pension Plan, check the box on the right, and click "Start".
- If you were a member of the ROM Pension Plan before January 1, 2016, choose the box on the left and click "Start".
Refer to your pension statement for to simplify inputting your data Refer to page 4 of your pension statement for to simplify inputting your data
Service
Earnings
Pension earned to December 31, 2015
Early reduced pension (% reduction) Pension Start Date:
Annual Lifetime Pension
|
Age |
|
|
+
Bridge Benefit (Paid to age 65) |
Monthly Lifetime Pension
|
Age |
|
|
+
Bridge Benefit (Paid to age 65) |
Early reduced pension
You are projected to be eligible to retire with an early reduced pension on because you will be at least 55 years old, or you will be at least 50 years old with 20 years of pensionable service.
On your projected earliest retirement date, your pension is estimated to be:
| Annual | Monthly | |
|---|---|---|
| Lifetime pension | ||
|
Bridge Benefit
(payable to age 65) |
To estimate your pension at a different date or age, scroll to the top of the page and click the "Total Retirement Income" tab on the left.
Early Start Adjustment
The lifetime pension and bridge benefit shown above are reduced because as of the date shown, you will not have met the criteria for an unreduced pension.
Reduction:
%
Bridge benefit
The bridge benefit is a temporary monthly payment made to members who retire before age 65, and paid until you turn 65. Your bridge benefit is reduced by the same reduction factors as your lifetime pension.
Projections, Assumptions, and Limitations
To calculate your estimated future pension, the Pension Estimator makes projections based on the data you entered and the assumptions described in "Projections, Assumptions, and Limitations" under the "Help" menu. Results are not reviewed or verified by the CAAT Pension Plan or your employer.
| Service, earnings, and YMPE used in the calculation | |
|---|---|
| Estimated pensionable service: | years |
| Estimated highest average pensionable earnings: | |
| Estimated AYMPE: | |
Data you entered
The total estimated pension is based on the data you entered.
| Annual Statement Year: | |
| Date of birth: | |
| Pensionable service: | years |
| Earnings: | |
| Earnings increase: | % |
Income Tax Act Maximum pension
As the CAAT Pension Plan is a registered pension plan, it can only pay pensions up to the Income Tax Act (ITA) maximum pension cap. The pension projection shown here has been calculated without applying the ITA maximum cap.
If, upon retirement, your actual pension were to exceed the ITA maximum cap then in effect, the excess pension above the maximum would be paid out of the CAAT Retirement Compensation Arrangement (CAAT RCA) if your employer participates in the CAAT RCA, and only to the extent that you have CAAT RCA eligible service.
Note that you are not entitled to any CAAT RCA benefits in respect of purchased or transferred service unless the service has been separately purchased under the CAAT RCA. Purchases and transfers into the CAAT RCA would be transactions separate from those under the CAAT Pension Plan and are costed on a different basis than the CAAT Pension Plan. To find out more about the RCA and the employers participating in it, click here.
You are projected to be eligible to retire with an early reduced pension on because you will be at least 55 years old, or you will be at least 50 years old with 20 years of pensionable service.
On your projected earliest retirement date, your pension is estimated to be:
|
ROM
Plan Annual |
CAAT
Plan Annual |
Total
Annual |
Total
Monthly |
|
|---|---|---|---|---|
| Lifetime pension | ||||
|
Bridge Benefit
(payable to age 65) |
- |
To estimate your pension at a different date or age, scroll to the top of the page and click the "Total Retirement Income" tab on the left.
Early Start Adjustment
The lifetime pension and bridge benefit shown above are reduced because as of the date shown, you will not have met the criteria for an unreduced pension.
| ROM Plan Reduction | CAAT Plan Reduction | ||
|---|---|---|---|
| Pre-2010 | Post-2009 | ||
| Reduction | % | % | % |
The ROM Plan reduction is applied to the portion of your pension earned under the ROM Pension Plan, and the CAAT Plan reduction is applied to the portion of your pension earned under the CAAT Pension Plan (starting January 1, 2016). To see more about the early retirement reductions for each plan, click “Help”.
Bridge benefit
The bridge benefit is a temporary monthly payment made to members who retire before age 65, and paid until you turn 65. It is payable on the portion of your pension earned in the CAAT Pension Plan only. Your bridge benefit will be reduced by the same reduction factors as apply to the CAAT Pension Plan portion of your lifetime pension.
Projections, Assumptions, and Limitations
To calculate your estimated future pension, the Pension Estimator makes projections based on the data you entered and the assumptions described in "Projections, Assumptions, and Limitations" under the "Help" menu. Results are not reviewed or verified by the CAAT Pension Plan or your employer.
| Service, earnings, and YMPE used in the calculation | |
|---|---|
| Estimated service (ROM Plan): | years |
| Estimated service (CAAT Plan): | years |
| Total estimated service: | years |
| Estimated average earnings: | |
| Estimated AYMPE: | |
The total estimated pension is based on the data you entered.
| Service: | Earnings: | Pension at December 31, 2015: | ||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
|
| Date of birth |
|---|
Details about your earnings and service
To calculate your pension, we use earnings and service.
- Your service is your total service earned under the ROM Pension Plan and the CAAT Pension Plan.
- The earnings calculation uses the average of the 60 months of highest earnings at the retirement date. This is called the Highest Average Pensionable Earnings or HAPE. As an additional test, the HAPE is compared to the Best Average Earnings in the ROM Pension Plan as of December 31, 20092015, (referred to as the Frozen BAE). If the Frozen BAE is higher than the HAPE, the Frozen BAE is used to calculate the pension.
For this estimate, because no Frozen BAE was entered, the Estimator did not compare your HAPE on your retirement date with your Frozen BAE. your Frozen BAE was the highest, and was used in the calculation of your pension estimates. your projected HAPE at the estimated retirement date was highest and was used in the calculation of your pension estimates.
Your pension paid from the CAAT Pension Plan for service in the ROM Pension Plan (up to December 31, 2015), cannot be less than the pension you had earned under the ROM Pension plan as of that date. This amount was reported on your personal pension statement.
Income Tax Act Maximum pension
The Pension Estimator shows your pension up to the Income Tax Act maximum pension only. Since the CAAT Pension Plan is a registered pension plan, it can only pay pensions up to the ITA maximum pension.
Important information for OTRFT members:
Effective January 1, 2019, all OTRFT members will join DBplus by the CAAT Pension Plan. It has different contribution rates and a different pension formula than the current Plan design.
Estimates provided by the Pension Estimator assume that you continue working and accruing a pension under the current Plan design until your retirement dates. If you are an OTRFT member, your pension accrual will change on January 1, 2019, that assumption is not valid. Therefore, the pension estimate from this estimator will not accurately reflect your ultimate pension from the CAAT Pension Plan, which would be made up of a pension from the current Plan design, and a pension from DBplus.
Note: If you are a full-time member, your pension will not change.
Discover how DBplus will maximize the lifetime pensions of OTRFT members.
More
- For explanations and definitions, click the "Help" button.
- To make changes to your data, click "Back." To start over, click "Clear."
- To estimate your pension at a different date or age, scroll to the top of the page and click the "Total Retirement Income" tab on the left.
Early unreduced pension Pension Start Date:
Annual Lifetime Pension
|
Age |
|
|
+
Bridge Benefit (Paid to age 65) |
Monthly Lifetime Pension
|
Age |
|
|
+
Bridge Benefit (Paid to age 65) |
Early unreduced pension
You are projected to be eligible to retire with an early unreduced pension on , when you are age . Based on this projection, your pension will be unreduced because you will have met the criteria for the .
On your projected earliest unreduced retirement date, your pension is estimated to be:
| Annual | Monthly | |
|---|---|---|
| Lifetime pension | ||
|
Bridge Benefit
(payable to age 65) |
To estimate your pension at a different date or age, scroll to the top of the page and click the "Total Retirement Income" tab on the left.
Bridge benefit
The bridge benefit is a temporary monthly payment made to members who retire before age 65, and paid until you turn 65.
Projections, Assumptions, and Limitations
To calculate your estimated future pension, the Pension Estimator makes projections based on the data you entered and the assumptions described in "Projections, Assumptions, and Limitations" under the "Help" menu. Results are not reviewed or verified by the CAAT Pension Plan or your employer.
| Service, earnings, and YMPE used in the calculation | |
|---|---|
| Estimated pensionable service: | years |
| Estimated highest average pensionable earnings: | |
| Estimated AYMPE: | |
Data you entered
The total estimated pension is based on the data you entered.
| Annual Statement Year: | |
| Date of birth: | |
| Pensionable service: | years |
| Earnings: | |
| Earnings increase: | % |
Income Tax Act Maximum pension
As the CAAT Pension Plan is a registered pension plan, it can only pay pensions up to the Income Tax Act (ITA) maximum pension cap. The pension projection shown here has been calculated without applying the ITA maximum cap.
If, upon retirement, your actual pension were to exceed the ITA maximum cap then in effect, the excess pension above the maximum would be paid out of the CAAT Retirement Compensation Arrangement (CAAT RCA) if your employer participates in the CAAT RCA, and only to the extent that you have CAAT RCA eligible service.
Note that you are not entitled to any CAAT RCA benefits in respect of purchased or transferred service unless the service has been separately purchased under the CAAT RCA. Purchases and transfers into the CAAT RCA would be transactions separate from those under the CAAT Pension Plan and are costed on a different basis than the CAAT Pension Plan. To find out more about the RCA and the employers participating in it, click here.
You are projected to be eligible to retire with an early unreduced pension on , when you are age . Based on this projection, a portion of your pension will be unreduced because you will have met the criteria for (under the CAAT Pension Plan).
On your projected earliest unreduced retirement date, your pension is estimated to be:
|
ROM
Plan Annual |
CAAT
Plan Annual |
Total
Annual |
Total
Monthly |
|
|---|---|---|---|---|
| Lifetime pension | ||||
|
Bridge Benefit
(payable to age 65) |
- |
To estimate your pension at a different date or age, scroll to the top of the page and click the "Total Retirement Income" tab on the left.
Reduction
The calculation of the early unreduced portion of your pension uses all service, earned in both plans, however:
- Only the portion of your pension earned in the CAAT Plan can be paid as an early unreduced pension.
- The ROM early reduction factors are applied to the portion of your pension earned under the ROM Pension Plan.
| ROM Plan | CAAT Plan | ||
|---|---|---|---|
| Pre-2010 | Post-2009 | ||
| Reduced by | % | % | % |
The ROM Plan reduction is applied to the portion of your pension earned under the ROM Pension Plan only.
Bridge benefit
The bridge benefit is a temporary monthly payment made to members who retire before age 65, and paid until you turn 65. It is payable on the portion of your pension earned in the CAAT Pension Plan only.
Projections, Assumptions, and Limitations
To calculate your estimated future pension, the Pension Estimator makes projections based on the data you entered and the assumptions described in "Projections, Assumptions, and Limitations" under the "Help" menu. Results are not reviewed or verified by the CAAT Pension Plan or your employer.
| Service, earnings, and YMPE used in the calculation | |
|---|---|
| Estimated service (ROM Plan): | years |
| Estimated service (CAAT Plan): | years |
| Total estimated service: | years |
| Estimated AYMPE: | |
| Estimated average earnings: | |
Data you entered
The total estimated pension is based on the data you entered.
| Service: | Earnings: | Pension at December 31, 2015: | ||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
|
| Date of birth |
|---|
Details about your earnings and service
To calculate your pension, we use earnings and service.
- Your service is your total service earned under the ROM Pension Plan and the CAAT Pension Plan.
- The earnings calculation uses the average of the 60 months of highest earnings at the retirement date. This is called the Highest Average Pensionable Earnings or HAPE. As an additional test, the HAPE is compared to the Best Average Earnings in the ROM Pension Plan as of December 31, 20092015, (referred to as the Frozen BAE). If the Frozen BAE is higher than the HAPE, the Frozen BAE is used to calculate the pension.
For this estimate, because no Frozen BAE was entered, the Estimator did not compare your HAPE on your retirement date with your Frozen BAE. your Frozen BAE was the highest, and was used in the calculation of your pension estimates. your projected HAPE at the estimated retirement date was highest and was used in the calculation of your pension estimates.
Your pension paid from the CAAT Pension Plan for service in the ROM Pension Plan (up to December 31, 2015), cannot be less than the pension you had earned under the ROM Pension plan as of that date. This amount was reported on your personal pension statement.
Income Tax Act Maximum pension
The Pension Estimator shows your pension up to the Income Tax Act maximum pension only. Since the CAAT Pension Plan is a registered pension plan, it can only pay pensions up to the ITA maximum pension.
Important information for OTRFT members:
Effective January 1, 2019, all OTRFT members will join DBplus by the CAAT Pension Plan. It has different contribution rates and a different pension formula than the current Plan design.
Estimates provided by the Pension Estimator assume that you continue working and accruing a pension under the current Plan design until your retirement dates. If you are an OTRFT member, your pension accrual will change on January 1, 2019, that assumption is not valid. Therefore, the pension estimate from this estimator will not accurately reflect your ultimate pension from the CAAT Pension Plan, which would be made up of a pension from the current Plan design, and a pension from DBplus.
Note: If you are a full-time member, your pension will not change.
Discover how DBplus will maximize the lifetime pensions of OTRFT members.
More
- For explanations and definitions, click the "Help" button.
- To make changes to your data, click "Back." To start over, click "Clear."
- To estimate your pension at a different date or age, scroll to the top of the page and click the "Total Retirement Income" tab on the left.
Normal retirement pension Pension Start Date:
Annual Lifetime Pension
|
Age |
Monthly Lifetime Pension
|
Age |
Normal pension
On your projected normal retirement date (the end of the month you turn 65), your pension is estimated to be:
| Annual | Monthly | |
|---|---|---|
| Lifetime pension |
To estimate your pension at a different date or age, scroll to the top of the page and click the "Total Retirement Income" tab on the left.
Projections, Assumptions, and Limitations
To calculate your estimated future pension, the Pension Estimator makes projections based on the data you entered and the assumptions described in "Projections, Assumptions, and Limitations" under the "Help" menu. Results are not reviewed or verified by the CAAT Pension Plan or your employer.
| Service, earnings, and YMPE used in the calculation | |
|---|---|
| Estimated pensionable service: | years |
| Estimated highest average pensionable earnings: | |
| Estimated AYMPE: | |
Data you entered
The total estimated pension is based on the data you entered.
| Annual Statement Year: | |
| Date of birth: | |
| Pensionable service | years |
| Earnings: | |
| Earnings increase: | % |
Income Tax Act Maximum pension
As the CAAT Pension Plan is a registered pension plan, it can only pay pensions up to the Income Tax Act (ITA) maximum pension cap. The pension projection shown here has been calculated without applying the ITA maximum cap.
If, upon retirement, your actual pension were to exceed the ITA maximum cap then in effect, the excess pension above the maximum would be paid out of the CAAT Retirement Compensation Arrangement (CAAT RCA) if your employer participates in the CAAT RCA, and only to the extent that you have CAAT RCA eligible service.
Note that you are not entitled to any CAAT RCA benefits in respect of purchased or transferred service unless the service has been separately purchased under the CAAT RCA. Purchases and transfers into the CAAT RCA would be transactions separate from those under the CAAT Pension Plan and are costed on a different basis than the CAAT Pension Plan. To find out more about the RCA and the employers participating in it, click here.
On your projected normal retirement date (the end of the month you turn 65), your pension is estimated to be:
|
ROM
Plan Annual |
CAAT
Plan Annual |
Total
Annual |
Total
Monthly |
|
|---|---|---|---|---|
| Lifetime pension |
To estimate your pension at a different date or age, scroll to the top of the page and click the "Total Retirement Income" tab on the left.
Projections, Assumptions, and Limitations
To calculate your estimated future pension, the Pension Estimator makes projections based on the data you entered and the assumptions described in "Projections, Assumptions, and Limitations" under the "Help" menu. Results are not reviewed or verified by the CAAT Pension Plan or your employer.
| Service, earnings, and YMPE used in the calculation | |
|---|---|
| Estimated service (ROM Plan): | years |
| Estimated service (CAAT Plan): | years |
| Total estimated service: | years |
| Estimated AYMPE: | |
| Estimated average earnings: | |
Data you entered
The total estimated pension is based on the data you entered.
| Service: | Earnings: | Pension at December 31, 2015: | ||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
|
| Date of birth |
|---|
Details about your earnings and service
To calculate your pension, we use earnings and service.
- Your service is your total service earned under the ROM Pension Plan and the CAAT Pension Plan.
- The earnings calculation uses the average of the 60 months of highest earnings at the retirement date. This is called the Highest Average Pensionable Earnings or HAPE. As an additional test, the HAPE is compared to the Best Average Earnings in the ROM Pension Plan as of December 31, 20092015, (referred to as the Frozen BAE). If the Frozen BAE is higher than the HAPE, the Frozen BAE is used to calculate the pension.
For this estimate, because no Frozen BAE was entered, the Estimator did not compare your HAPE on your retirement date with your Frozen BAE. your frozen BAE was the highest, and was used in the calculation of your pension estimates. your projected HAPE at the estimated retirement date was highest and was used in the calculation of your pension estimates.
Your pension paid from the CAAT Pension Plan for service in the ROM Pension Plan (up to December 31, 2015), cannot be less than the pension you had earned under the ROM Pension plan as of that date. This amount was reported on your personal pension statement.
Income Tax Act Maximum pension
The Pension Estimator shows your pension up to the Income Tax Act maximum pension only. Since the CAAT Pension Plan is a registered pension plan, it can only pay pensions up to the ITA maximum pension.
Important information for OTRFT members:
Effective January 1, 2019, all OTRFT members will join DBplus by the CAAT Pension Plan. It has different contribution rates and a different pension formula than the current Plan design.
Estimates provided by the Pension Estimator assume that you continue working and accruing a pension under the current Plan design until your retirement dates. If you are an OTRFT member, your pension accrual will change on January 1, 2019, that assumption is not valid. Therefore, the pension estimate from this estimator will not accurately reflect your ultimate pension from the CAAT Pension Plan, which would be made up of a pension from the current Plan design, and a pension from DBplus.
Note: If you are a full-time member, your pension will not change.
Discover how DBplus will maximize the lifetime pensions of OTRFT members.
More
- For explanations and definitions, click the "Help" button.
- To make changes to your data, click "Back." To start over, click "Clear."
- To estimate your pension at a different date or age, scroll to the top of the page and click the "Total Retirement Income" tab on the left.
Terms of Use
Your CAAT Plan pension may not be your only source of retirement income. Government pensions and your savings can add to your total retirement income. The Total Retirement Income module lets you estimate your retirement income based on your estimates for the CAAT Plan pension, CPP pension and the OAS benefit.
The CPP and OAS estimates created by this tool are provided for information only, and based on information that you provided. The results should not be considered financial advice. The CAAT Pension Plan is not responsible for your government pensions. Only the Government of Canada can determine your ultimate CPP pension and OAS benefit, at the time that you apply.
Use of the Estimator does not imply entitlement to a pension from either the CAAT Pension Plan, or from Canada Pension Plan, nor does it entitle you to a benefit from Old Age Security.
Your CAAT Plan pension
Choose the age or the date at which you would like your pension to start.
OR
Estimate your government pensions
Based on the CPP website, for CPP pensions starting in 2018, the maximum CPP pension is $13,610 per year (starting at age 65). The average CPP pension is $7,700 per year (which is approximately 60%). If you start CPP at age 65, it is unreduced.
Refer to "Using the total retirement income estimator" help file for information to help you estimate your CPP pension. For more information on CPP, visit the Canada Pension Plan website.
Starting in 2019, the CPP will be gradually enhanced to replace one third of your average work earnings earned in 2019 and after. This will only affect you if, as of 2019, you work and contribute to the CPP. This Total Retirement Income tool does not make assumptions about the CPP enhancement. The CPP pension estimated by this tool assumes 25% of the YMPE.
You can start CPP as early as age 60, with a reduction of 7.2% per year you are under age 65. If you start CPP after age 65, it is increased by 8.4% per year (up to age 70).
The maximum OAS benefit (as of July, 2018) is $7,106 per year. Qualification for the maximum OAS benefit is based on residency requirements, and partial OAS can be paid after 10 years of living in Canada (after age 18). Visit the Government of Canada's OAS webpage to learn more about eligibility for OAS if you have periods during which you did not reside in Canada.
Refer to "Using the total retirement income estimator" in "Help" for information to help you estimate your OAS benefit. For more information on OAS, including the requirements for full OAS, visit the Old Age Security website.
You cannot start OAS before age 65. If you start OAS after age 65, it is increased by 7.2% per year (up to age 70).
Your CAAT Plan pension may not be your only source of retirement income. Government pensions and your savings can add to your total retirement income. The Total Retirement Income module lets you get an estimate of your retirement income based on your estimates for the CAAT Plan pension, CPP pension and the OAS benefit.
| Sources of retirement income | Start Date/Age | Annual Monthly |
|---|---|---|
Estimated CAAT Pension Plan lifetime pension
|
||
Estimated CAAT Pension Plan bridge benefit
(payable to age 65) |
||
Estimated Canada Pension Plan pension
|
||
Estimated Old Age Security benefit
|
Estimated CAAT Plan pension
On your projected selected retirement age of , your pension is estimated to be:
On your projected selected retirement date of , your pension is estimated to be:
| Annual | Monthly | |
|---|---|---|
| Lifetime pension | ||
|
Bridge Benefit
(payable to age 65) |
You will be eligible to retire early with an unreduced pension because you will have met the criteria for the .
Your projected pension will be reduced because you have not met the criteria for an early unreduced pension.
Reduction
The lifetime pension and bridge benefit shown above are reduced because you will not have met the criteria for an unreduced pension.
| Reduced by | % |
Bridge benefit
The bridge benefit is a temporary monthly payment made to members who retire before age 65, and paid until you turn 65. Your bridge benefit is reduced by the same reduction factors as your lifetime pension.
Estimated Canada Pension Plan (CPP) pension
On your chosen CPP start age of , the projected CPP pension is estimated to be:
| Annual | Monthly | |
|---|---|---|
| Estimated CPP pension |
The estimated CPP pension shown above takes into account any current reduction factors for early start, or any current increase factors for start date deferral and is projected.
Estimated OAS pension
At age the projected OAS pension is estimated to be:
| Annual | Monthly | |
|---|---|---|
| Estimated OAS pension |
The estimated OAS pension shown above takes into account any current increase factors for start date deferral and is projected.
There is no option to start OAS before age 65, and therefore, no early start reduction.
OAS is subject to a clawback if your income exceeds the individual income threshold of just over $74,000 per year (and no OAS is payable if your individual income exceeds $123,302 per year (in 2018)). The Total Retirement tool does not cap your OAS benefit, even if your estimated income exceeds the clawback threshold.
Projections and assumptions
| Projections used in the calculation | |
|---|---|
| Estimated pensionable service: | years |
| Estimated highest average pensionable earnings: | |
| Estimated AYMPE: | |
| CPP reduction: | % |
| Projected CPP: | |
| OAS increase: | % |
| Projected OAS: | |
The CPP at your chosen start date is an estimate. To reach it, the Estimator takes these steps:
- Projects the YMPE for each year from the current year, to the chosen CPP start date, increased in accordance with the assumptions used in the CAAT Pension Plan's most recently filed actuarial valuation.
- Calculates the five-year average YMPE (the average of the projected YMPE in the CPP start year and the projected YMPE for the previous 4 years).
- Estimates the maximum CPP on the chosen start date by calculating 25% of the five-year average YMPE. (Note that starting in 2019, the CPP will gradually be expanded to replace one third of your average work earnings, earned during 2019 and after.)
- Reduces that amount based on the percentage of the maximum you chose (if you chose less than 100%).
- If your chosen start date was before age 65, the Estimator then reduces the estimated CPP pension by the CPP reduction factor of 7.2% per year your chosen start date is under age 65.
- If your chosen start date was after age 65, the estimated CPP pension is increased by the current CPP increase factor of 8.4% per year that your chosen start date is over age 65 (up to age 70).
- If your chosen start date was at age 65, no further reduction or increase is made.
If you are already 65 or older, the default start date is the date of the calculation.
The OAS at your age 65 is an estimate. To reach it, the Estimator projected the current maximum OAS pension to your chosen start date, increased in accordance with the assumptions used in the CAAT Pension Plan's most recently filed actuarial valuation. It then reduced the OAS pension based on the percentage of the maximum you chose. If you chose a start date after age 65, the estimated OAS pension is increased by the current OAS deferral increase factor of 7.2% per year that your chosen start date is over age 65 (up to age 70).
There is no option to start OAS before age 65, and therefore, no early start reduction.
If you are already 65 or older, the default start date is the date of the calculation.
Data you entered:
The total estimated pension is based on the data you entered.
| Annual Statement Year: | |
| Date of birth: | |
| Service: | years |
| Earnings: | |
| Earnings increase: | % |
| Percent of maximum CPP: | % |
| CPP start age: | |
| Percent of maximum OAS: | % |
| OAS start age: |
Income Tax Act Maximum pension
The CAAT Pension Plan is a registered pension plan, which can only pay pensions up to the Income Tax Act (ITA) maximum pension.
Note that you are not entitled to any CAAT RCA benefits in respect of purchased or transferred service unless the service has been separately purchased under the CAAT RCA. Purchases and transfers into the CAAT RCA would be transactions separate from those under the CAAT Pension Plan and are costed on a different basis than the CAAT Pension Plan.
If, upon retirement, your actual pension were to exceed the ITA maximum then in effect, the excess pension above the maximum may be paid out of the CAAT Retirement Compensation Arrangement (CAAT RCA) if your employer participates in the CAAT RCA, and only to the extent that you have CAAT RCA eligible service.
Your estimated pension amount shown here has been capped at the ITA maximum pension. Any excess above this maximum at your retirement date may be paid from the CAAT Retirement Compensation Arrangement (CAAT RCA) if your employer participates in the CAAT RCA. For an estimate of the CAAT RCA benefit, please contact the CAAT Pension Plan.
On your projected selected retirement age of , your pension is estimated to be:
On your projected selected retirement date of , your pension is estimated to be:
|
ROM
Plan Annual |
CAAT
Plan Annual |
Total
Annual |
Total
Monthly |
|
|---|---|---|---|---|
| Lifetime pension | ||||
|
Bridge Benefit
(payable to age 65) |
- |
You will be eligible to retire early with an unreduced pension because you will have met the criteria for the .
Your projected pension will be reduced because you have not met the criteria for an early unreduced pension.
Reduction
The lifetime pension and bridge benefit shown above are reduced because you will not have met the criteria for an unreduced pension.
| ROM Plan | CAAT Plan | ||
|---|---|---|---|
| Pre-2010 | Post-2009 | ||
| Reduced by | % | % | % |
The ROM Plan reduction is applied to the portion of your pension earned under the ROM Pension Plan, and the CAAT Plan reduction is applied to the portion of your pension earned under the CAAT Pension Plan (starting January 1, 2016). To see more about the early retirement reductions for each plan, click the "Help" button.
Early Start Adjustment
The calculation of the early unreduced portion of your pension uses all service, earned in both plans, however:
- Only the portion of your pension earned in the CAAT Plan can be paid as an early unreduced pension.
- The ROM early reduction factors are applied to the portion of your pension earned under the ROM Pension Plan.
| ROM Plan | ||
|---|---|---|
| Pre-2010 | Post-2009 | |
| Reduction | % | % |
Bridge benefit
The bridge benefit is a temporary monthly payment made to members who retire before age 65, and paid until you turn 65. It is payable on the portion of your pension earned in the CAAT Pension Plan only. Your bridge benefit will be reduced by the same reduction factors as apply to the CAAT Pension Plan portion of your lifetime pension.
Estimated Canada Pension Plan (CPP) pension
On your chosen CPP start age of , the projected CPP pension is estimated to be:
| Annual | Monthly | |
|---|---|---|
| Estimated CPP pension |
The estimated CPP pension shown above takes into account any current reduction factors for early start, or any current increase factors for start date deferral and is projected.
Estimated OAS pension
At age the projected OAS pension is estimated to be:
| Annual | Monthly | |
|---|---|---|
| Estimated OAS pension |
The estimated OAS pension shown above takes into account any current increase factors for start date deferral and is projected.
There is no option to start OAS before age 65, and therefore, no early start reduction.
OAS is subject to a clawback if your income exceeds the individual income threshold of just over $73,000 per year (and no OAS is payable if your individual income exceeds $119,615 per year (in 2016)). The Total Retirement tool does not cap your OAS benefit, even if your estimated income exceeds the clawback threshold.
Projections and assumptions
| Projections used in the calculation | |
|---|---|
| Estimated service (ROM Plan): | years |
| Estimated service (CAAT Plan): | years |
| Total Estimated service: | years |
| Estimated average earnings: | |
| Estimated AYMPE: | |
| CPP reduction: | % |
| Projected CPP | |
| OAS increase: | % |
| Projected OAS: | |
To calculate your pension, we use earnings and service.
| - | Your service is your total service earned under the ROM Pension Plan and the CAAT Pension Plan. |
| - | The earnings calculation uses the average of the 60 months of highest earnings at the retirement date. This is called the Highest Average Pensionable Earnings or HAPE. As an additional test, the HAPE is compared to the Best Average Earnings in the ROM Pension Plan as of December 31, 20092015, (referred to as the frozen BAE). If the frozen BAE is higher than the HAPE, the frozen BAE is used to calculate the pension. |
For this estimate, because no Frozen BAE was entered, the Estimator did not compare your HAPE on your retirement date with your Frozen BAE. your frozen BAE was the highest, and was used in the calculation of your pension estimates. your projected HAPE at the estimated retirement date was highest and used in the calculation of your pension estimates.
Your pension paid from the CAAT Pension Plan for service in the ROM Pension Plan (up to December 31, 2015), cannot be less than the pension you had earned under the ROM Pension plan as of that date. This amount was reported on your personal pension statement.
The CPP at your chosen start date is an estimate. To reach it, the Estimator takes these steps:
- Projects the YMPE for each year from the current year, to the chosen CPP start date, increased in accordance with the assumptions used in the CAAT Pension Plan's most recently filed actuarial valuation.
- Calculates the five-year average YMPE (the average of the projected YMPE in the CPP start year and the projected YMPE for the previous 4 years).
- Estimates the maximum CPP on the chosen start date by calculating 25% of the five-year average YMPE.
- Reduces that amount based on the percentage of the maximum you chose (if you chose less than 100%).
- If your chosen start date was before age 65, the Estimator then reduces the estimated CPP pension by the CPP reduction factor of 7.2% per year your chosen start date is under age 65.
- If your chosen start date was after age 65, the estimated CPP pension is increased by the current CPP increase factor of 8.4% per year that your chosen start date is over age 65 (up to age 70).
- If your chosen start date was at age 65, no further reduction or increase is made.
If you are already 65 or older, the default start date is the date of the calculation.
The OAS at your age 65 is an estimate. To reach it, the Estimator projected the current maximum OAS pension to your chosen start date, increased in accordance with the assumptions used in the CAAT Pension Plan's most recently filed actuarial valuation. It then reduced the OAS pension based on the percentage of the maximum you chose. If you chose a start date after age 65, the estimated OAS pension is increased by the current OAS deferral increase factor of 7.2% per year that your chosen start date is over age 65 (up to age 70).
There is no option to start OAS before age 65, and therefore, no early start reduction.
If you are already 65 or older, the default start date is the date of the calculation .
Data you entered:
The total estimated pension is based on the data you entered.
| Service | Earnings | Pension at December 31, 2015 | ||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
|
| Date of birth |
|---|
| % |
| CPP | OAS | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
|
Income Tax Act Maximum pension
The Pension Estimator shows your pension up to the Income Tax Act maximum pension only. Since the CAAT Pension Plan is a registered pension plan, it can only pay pensions up to the ITA maximum pension.
Important information for OTRFT members:
Effective January 1, 2019, all OTRFT members will join DBplus by the CAAT Pension Plan. It has different contribution rates and a different pension formula than the current Plan design.
Estimates provided by the Pension Estimator assume that you continue working and accruing a pension under the current Plan design until your retirement dates. If you are an OTRFT member, your pension accrual will change on January 1, 2019, that assumption is not valid. Therefore, the pension estimate from this estimator will not accurately reflect your ultimate pension from the CAAT Pension Plan, which would be made up of a pension from the current Plan design, and a pension from DBplus.
Note: If you are a full-time member, your pension will not change.
Discover how DBplus will maximize the lifetime pensions of OTRFT members.
More
- For explanations and definitions, click the "Help" button.
- To make changes to your data, click "Back." To start over, click "Clear."
- To estimate your pension at a different date or age, scroll to the top of the page and click the "Total Retirement Income" tab on the left.