Actuarial Cost Estimator
If you've ever worked for an employer with a registered pension plan or worked for a CAAT Pension Plan employer BEFORE you became a member of the Plan, or had breaks of service, you may be able to purchase the service, and increase your total service in the CAAT Pension Plan.
Use the Actuarial Cost Estimator to get an estimate of the cost of your 100% member paid service purchase.
Who should use the ACE Tool?
The ACE Tool is for members of the CAAT Pension Plan who are earning a pension in DBprime.
Before using this estimator, please read the Terms of Use.
This Actuarial Cost Estimator was developed to provide basic service purchase estimates only. Results are based on information provided by you, and are neither reviewed nor verified by the CAAT Pension Plan. The estimates provided by the Actuarial Cost Estimator apply only to full-time members, who are earning a pension under DBprime.
The Actuarial Cost Estimator uses the data you enter to estimate the cost of a service purchase.
For estimate purposes, the results provided assume that all service purchased is fully indexed. Depending on the years when the service occurred and on the provisions of the CAAT Pension Plan, your service may or may not be fully indexed.
The final cost of any service purchase can only be calculated by the CAAT Pension Plan at the time of the official request. It will be calculated based on the information provided by you and either your former non-CAAT employer's pension plan or the CAAT Plan participating employer with which you worked prior to joining the Plan, as well as assumptions in effect on the date of request.
Service purchases and transfers into the CAAT Pension Plan are capped at the maximum registered pension plan benefit allowable under the ITA in effect at the time you retire or terminate employment. Purchases and transfers above the ITA maximum would need to be made into the CAAT Retirement Compensation Arrangement (CAAT RCA) if your employer participates in this plan. They are separate transactions from those under the CAAT Plan and are costed on a different basis. Service purchased under the CAAT Pension Plan will therefore not be reflected in any benefit to which you may become entitled under the CAAT RCA.
If you are a participant in the CAAT RCA and are interested in exploring the possibility of making a purchase or a transfer above the ITA maximum into the CAAT RCA, please have your HR department contact the CAAT Pension Plan for a quote. Your employer, who must pay for at least half of the purchase cost under income tax law (with you paying the balance), must agree to the purchase. If you have accrued benefits in respect of a previous employers retirement compensation arrangement, it may be possible to have such credits and assets transferred into the CAAT RCA directly.
IMPORTANT
The result of this estimate does not constitute an official quote of the cost of a service purchase. To make a purchase of service, you will need to request a formal quote from the CAAT Pension Plan. This quote will be calculated based on data supplied to you by your previous non-CAAT employer or your CAAT employer, in the case of pre-enrolment service.
To receive the quote, download the “Service Purchase Application” form that will only be available once you have completed your estimate. You and your former non-CAAT employer's pension plan or CAAT employer with which you worked prior to joining the Plan will have to complete the form and submit it to the CAAT Pension Plan in order to start the buyback process and receive a formal quote.