ACE Help - Step 2

IMPORTANT!

The Actuarial Cost Estimator was developed to provide members of the CAAT Pension Plan with basic service purchase estimates only. Results are displayed as a cost range, based on information provided by you, and are neither reviewed nor verified by the CAAT Pension Plan. These estimates are not binding on the CAAT Pension Plan.

The final cost of any service purchase can only be calculated by the CAAT Plan at the time of the official request. It will be calculated based on the information provided by you, your former non-CAAT employer’s pension plan or the CAAT Plan participating employer with which you worked prior to joining the CAAT Pension Plan and your current employer as of the date of request.

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 employer's retirement compensation arrangement, it may be possible to have such credits and assets transferred into the CAAT RCA directly.

INPUTS

Type of purchase

Select the type of purchase you wish to make, based on one of the following four options:

  • You previously worked for a non-CAAT Plan employer and were a member of that employer’s Canadian registered pension plan. You can purchase service in the CAAT Plan, up to the total service you had in your previous employer’s pension plan. You cannot purchase more service in the CAAT Plan than you had in the other plan.
  • You work for a CAAT Pension Plan participating employer but did not previously join the Plan. If you worked for a CAAT Plan participating employer prior to joining the Plan, you can purchase the service worked from date of hire to date of enrolment.
  • You work for a CAAT Pension Plan participating employer and have returned from a leave. If you took an unpaid leave of absence, or a pregnancy/parental or adoption leave, and it has been more than 6 months since you returned to work, you can purchase the period of absence.
  • You have rejoined the CAAT Pension Plan after a prior termination. If you were previously a member of the Plan, and if, at termination you received a refund of contributions or a payment of the commuted value payment, you can purchase the service from your previous period of membership.

Select a cost method

  • Total years of service available for purchase: Select this option if you know how long you were a member of the previous plan (or how many years of service you had with your CAAT participating employer prior to joining the Plan).
  • Amount of funds available to make the purchase: Select this option if you know the amount available to make the purchase, either directly from the previous plan, or from a Locked in fund (e.g. a LIRA or RRSP if you transferred or took a cash refund of your previous pension entitlement).