It’s easy to get an estimate of your lifetime pension from the CAAT Pension Plan.
With just a few pieces of information you can estimate your future retirement income under the CAAT Pension Plan, model different retirement scenarios, or see how much larger your pension could be with a purchase.
The DBplus Estimator allows you to test different retirement scenarios by adjusting various assumptions such as your retirement date, your future earnings, or any pension purchases. It uses the data you enter to make projections into the future to arrive at retirement dates, approximate pension, contributions, and increases through indexation.
Other assumptions are built into the DBplus Estimator based on CAAT Pension Plan’s actuarial assumptions and/or Plan terms. You can read about them in our “Help” section, under “Projections, Assumptions and Limitations”.
In no event are the estimates provided by the DBplus Estimator a guarantee of pension benefit amounts or a substitute for obtaining independent financial advice. The estimates provided to you are strictly for illustrative purposes. While every effort has been made to confirm the accuracy of these estimates, the correctness of the underlying data, and the reasonableness of assumptions used, your actual pension entitlement under the CAAT Pension Plan may change based on actual experience or changes to the data, if incorrect. The DBplus calculator does not take applicable Income Tax Act limits into account when calculating pension estimates, or take into account the impact that future changes to the DBplus provisions of the CAAT Pension Plan or to applicable legislation could have on projected pension benefits. The CAAT Pension Plan reserves the right to correct errors in the DBplus Estimator at any time.
The DBplus estimator was developed by the CAAT Pension Plan to provide basic pension estimates only for employees currently contributing to the DBplus plan design under the CAAT Pension Plan.
For members who joined the CAAT Pension Plan through a merger, it assumes the required regulatory approvals for the transfer of assets will be obtained. For members who joined the CAAT Pension Plan through a merger, any pension you earn under the CAAT Pension Plan will be subject to the DBplus provisions of the CAAT Pension Plan, and any past pension you earned under the merged plan, will be replicated under and payable from the CAAT Pension Plan.
Important information about pension estimates
The results from the DBplus Estimator should not be considered a guarantee of pension entitlements or financial advice.
- Use of the DBplus Estimator does not imply entitlement to a pension under the CAAT Pension Plan.
- Use of the DBplus Estimator to estimate additional pension purchases does not imply any entitlement to a purchase under DBplus. If you were to make a purchase, please note that the amount that may be contributed is the lesser of 18% of applicable earnings (T4 earnings in respect of the period of time eligible for purchase under the applicable CAAT Pension Plan terms) and the amount available to transfer from a qualifying registered savings arrangement (such as an RRSP or a LIRA), as required by applicable pension legislation. These limits would be impacted by your ongoing participation in DBplus. The tool does not validate that the funds you input for the purposes of a pension estimate can be used for a pension purchase, nor does it take applicable Income Tax Act (Canada) limitations into account.
- The DBplus Estimator does not validate the information that you enter or automatically correct errors that result from inputting incorrect data.
- Benefits accrued and payable under a registered pension plan are capped based on the applicable Income Tax Act (Canada) limits. The estimator does not take these limits into account or show the amount of benefits you could receive net of applicable taxes.
- The data you enter into the DBplus Estimator is not saved or sent to the CAAT Pension Plan or your employer. You may print the result page for future reference but please note that the estimates provided are subject to change at any time.
- You can learn more about the assumptions and some of the terms used on this site in the “Help” files.