DBplus Pension Estimator

Use this estimator if you are a DBplus member who works part time or on contract for an Ontario College or related employer.

Get an estimate

It’s easy to get an estimate of your lifetime pension from the CAAT Pension Plan.

Use the DBplus Estimator to estimate your total pension earned in DBplus (and DBprime, if applicable).

Your most recent Annual Statement contains the information you need to input into the Estimator.

If you recently joined the Plan, or don’t have access to your Annual Statement, you can still use this Estimator. 

Curious about the value a pension purchase can add to your pension? The Estimator can show you that as well.

Who should use the DBplus Estimator?

  • Members who work part time or on contract for an employer that participates in both DBprime and DBplus - this estimator is for you

  • Members who work part time or on contract at ROM
    • If you joined the CAAT Pension Plan after January 1, 2016, this estimator is for you.
    • If you were a member of the ROM Pension Plan before the pension plan merger of January 1, 2016, please refer to your most recent Annual Statement for your pension estimates or contact the CAAT Pension Plan directly.
  • Members who work part time or on contract at YSB
    • If you joined the CAAT Pension Plan after January 1, 2018, this estimator is for you.
    • If you were a member of the YSB Pension Plan before the pension plan merger of January 1, 2018, please refer to your most recent Annual Statement for your pension estimates, or contact the CAAT Pension Plan directly.
  • Full-time members - visit the DBprime Pension Estimator

Need help? Click on "Help" any time for guidance.

The DBplus Estimator was developed to provide basic pension estimates only. Results are based on data provided by you, and are neither reviewed nor verified by your employer or the CAAT Pension Plan. The DBplus Estimator lets you adjust some of the assumptions related to your retirement so you can test a variety of scenarios. However, other assumptions are built into the DBplus Estimator based on the Plan's actuarial assumptions, and Plan terms and these assumptions cannot be changed by the DBplus Estimator. You can learn more on our website.

  • Use of the DBplus Estimator does not imply entitlement to a pension or a bridge benefit.
  • Benefits payable under registered pension plans, such as the CAAT Pension Plan cannot exceed the Income Tax Act (ITA) Maximum pension limit.
  • These estimates are not binding on the CAAT Pension Plan or your employer.
  • 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 results for future reference.
  • 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 results from the DBplus Estimator should not be considered financial advice.

Total Retirement Income tool - Estimated CPP pension and OAS benefit
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 CPP or 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.

Ready to start?

Check the box to indicate that you have read and understood the Terms of Use then click "Start."

Enter your data

Use the information on your most recent Annual Statement to simplify your data entry.
Enter your pension amounts from your Annual Statement If an amount does not apply to you, enter “0”
Enter your service from your Annual Statement If an amount does not apply to you, enter “0”
Will you use annual or weekly earnings?

After you have made changes, click on "Calculate" to see the impact on your pension. Click "Reset" to clear all inputs. For details on the impact of each assumption, refer to the "Help" files.
Customize my estimate
Basic information

Annual / Weekly
Estimate your government pensions
Canada Pension Plan (CPP)

Refer to "Using the total retirement income estimator" in "Help" 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 CPP. The DBplus Estimator does not make assumptions about the CPP enhancement. The CPP pension estimated by this tool assumes 25% of the YMPE.


Old Age Security (OAS)

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.

See the value of a purchase
Show pension purchase only
Show lifetime pension only
Show both
After you have made changes, click on "Calculate" to see the impact on your pension. Click "Reset" to clear all inputs. For details on the impact of each assumption, refer to the "Help" files.

Pension projections (annual)

Age ## (includes early start adjustment) Pension Start Date: ####-##-##


Annual Lifetime Pension

Annual purchased pension

Annual lifetime pension plus purchased pension

Age ##

Your pension includes a bridge benefit, payable to age 65 of
+

Monthly Lifetime Pension

Monthly purchased pension

Monthly lifetime pension plus purchased pension

Age ##

Your pension includes a bridge benefit, payable to age 65 of
+

Your total annual lifetime pension is estimated to be $###. Contributions and benefits payable from DBplus are capped at the Income Tax Act (ITA) maximum limits. The amount shown here has been capped because the salary you entered generates contributions that exceed the ITA maximums.

Total annual lifetime pension
DBplus total: $NN,NNN
DBplus guaranteed base: $NN,NNN
DBplus purchased pension: $NN,NNN
DBplus AIW increase: $NN,NNN
DBprime total: $NN,NNN
Based on the accrued DBprime pension you entered
AIW increase applied to your DBprime pension: $NN,NNN
TOTAL: $NN,NNN

Bridge benefit
If you retire before age 65, you will receive an additional pension from DBprime, paid from your early retirement date, to age 65. This additional pension is called a bridge benefit. If the DBprime early pension is reduced, an early start adjustment is also applied to your bridge benefit.
Estimated annual bridge benefit (payable to age 65, includes early start adjustment): $#,###

If you retire before age 55: You can retire as early as age 50, however, if you do, and you do not have 20 years of service, you will not start to receive your bridge benefit in respect of DBprime until you reach age 55. In that case, the bridge would be reduced by the lesser of 50% (5% per year you are under age 65), or the actuarial reduction.

If your pension estimate is for a date before you reach age 55, and you do not have 20 years of service, the DBplus Estimator shows your bridge benefit, payable from age 55 – 65 with a 50% early start adjustment. It does not calculate and compare the actuarial reduction.

Early Start Adjustment
The lifetime pension and bridge benefit shown above include the early start adjustment:

  • DBprime – at the date shown, you will not have met the criteria for an unreduced pension. This portion of your pension receives an early start adjustment of 3% per year you are from your earliest unreduced retirement date. The same early start adjustment would be applied to your bridge benefit.
  • DBplus – there is no early unreduced option under DBplus. The DBplus early start adjustment is between 3% and 5% per year you are under age 65 (based on the CAAT Pension Plan's Funding Policy). Currently, the early start adjustment is set at 3% per year.

Total early start adjustment
DBprime: ##%
 DBplus: ##%

You can choose a different retirement date or age, and some other assumptions used in your pension calculation on the panel called "Customize my estimate". Click "Help" for more information.

Purchases
The amount eligible for purchase is limited by the Income Tax Act. The estimator does not validate that the funds you input are eligible for purchase. This validation is done as part of the purchase process. If you enter a purchase amount in the "See the value of your purchase" panel, you can see the resulting pension in the "Pension projections (annual)" graph. To see the impact of the purchase on your lifetime pension, make sure to click the “Show both” radio button.

Projections, assumptions, and limitations
To calculate your estimated future pension, the DBplus 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.

Data you entered
Statement Year: NNNN
Date of birth: ####-##-##
Annual DBprime Pension: $#,###
Annual DBplus Pension: $#,###
Annual DBprime bridge: $#,###
DBprime pensionable service: ##.#####
DBplus eligibility service: ##.#####
Earnings: $##,### WeeklyAnnual
Weeks per year: ##
Earnings increase: #.#%

Values and assumptions used in the calculation

Retirement assumptions
Retirement age: ## Retirement date: ##
Estimated eligibility service: ##.#####

Plan parameters
Early Retirement Reduction – applies to your DBprime pension: ##%
Early Retirement Reduction – applies to your DBplus pension: ##%
AIW rate – applies to your DBplus pension:

NN%

Annual DBplus Pension Factor: 8.5%

  • Projected Annual Pension Factor increase: 9.5% starting January 1, 2025

Projected post-retirement inflation protection – applies to your DBplus pension: 1.53%

Future (projected) values and assumptions are not guarantees. They are used for projection purposes only. Refer to Projections, Assumptions, and Limitations in “Help” for more.

Contribution rate: ##%
Max purchase amount based on T4 earnings $NN,NNN

Purchase
Total T4 earnings: $NN,NNN
 Purchase amount: $NN,NNN
Date of purchase: ####-##-##
Purchase adjustment factor: #.#%
This amount depends on your years from normal retirement at the date of the purchase. If you make your purchase when you are more than 25 years from your normal retirement date the adjustment factor is 100%, i.e. the purchased benefit is equal to the applicable Annual Pension Factor, multiplied by the purchase amount. If you are less than 25 years from your normal retirement date, the 100% adjustment is decreased by 1.4% per year, calculated on a day-by-day basis, reducing the purchased benefit.

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 capped by applying the ITA maximum limits for contributions and benefits. 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.

Note that CAAT RCA eligible service excludes any time you were an active member of DBplus.

More

  • For explanations and definitions click "Help".
  • Refer to the "Customize my estimate" panel to make changes to your data or estimate your pension at a different date or age.
  • Click the "Total Retirement Income" tab to get an estimate of your CPP and OAS entitlements.

All amounts shown are gross.

Total retirement income customized graph (annual)

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
CAAT Pension indicator Total CAAT Pension Plan lifetime pension: $NN,NNN$NN,NNN
Start date: YYYY-MM-DD / Age: NN

Bridge indicator Bridge (payable to age 65): $NNN$NNN

CPP indicator CPP: $NNN$NNN
Start date: YYYY-MM-DD / Age: NN

OAS indicator OAS: $NNN$NNN
Start date: YYYY-MM-DD / Age: NN



On ####-##-## you will be ## years old.

Your total annual lifetime pension is estimated to be $###. Contributions and benefits payable from DBplus are capped at the Income Tax Act (ITA) maximum limits. The amount shown here has been capped because the salary you entered generates contributions that exceed the ITA maximums.

Your pension will be made up of two parts – the portion earned up to December 31, 2022 in the Plan design referred to as DBprime; and the portion earned in DBplus starting January 1, 2019. It also includes the AIW enhancements applied to both portions starting in 2020. Note that this estimate does not show the amount of any pension you earned in 2022, however, your 2022 pension will be included in your actual pension at retirement. In 2019 your Annual Pension Statement will show your pension with your 2022 pension accrual, and starting in 2020, your Statement will show your total pension from both Plan designs.

Total annual lifetime pension
DBplus total: $NN,NNN
DBplus guaranteed base: $NN,NNN
DBplus purchased pension: $NN,NNN
DBplus AIW increase: $NN,NNN
DBprime total: $NN,NNN
Based on your pension accrued to December 31, NNNN
AIW increase applied to your DBprime pension: $NN,NNN
TOTAL: $NN,NNN

Bridge benefit
If you retire before age 65, you will receive an additional pension from DBprime, paid from your early retirement date, to age 65. This additional pension is called a bridge benefit. If the DBprime early pension is reduced, the early start adjustment is also applied to your bridge benefit.
Estimated annual bridge benefit (payable to age 65, includes early start adjustment): $#,###

If you retire before age 55: You can retire as early as age 50, however, if you do, and you do not have 20 years of service, you will not start to receive your bridge benefit in respect of DBprime until you reach age 55. In that case, the bridge benefit would be reduced by the lesser of 50% (5% per year you are under age 65), or the actuarial reduction.

If your pension estimate is for a date before you reach age 55, and you do not have 20 years of service, the DBplus Estimator shows your bridge benefit, payable from age 55 – 65 with a 50% early start adjustment. It does not calculate and compare the actuarial reduction.

Early Start Adjustment
The lifetime pension and bridge benefit shown above include the early start adjustment:

  • DBprime – at the date shown, you will not have met the criteria for an unreduced pension. This portion of your pension receives an early start adjustment of 3% per year you are from your earliest unreduced retirement date. The same early start adjustment would be applied to your bridge benefit.
  • DBplus – there is no early unreduced option under DBplus. The DBplus early start adjustment is between 3% and 5% per year you are under age 65 (based on the CAAT Pension Plan's Funding Policy). Currently, the early start adjustment is set at 3% per year.

Total early start adjustment
DBprime: ##%
DBplus: ##%

You can choose a different retirement date or age, and some other assumptions used in your pension calculation on the panel called "Customize my estimate". Click "Help" for more information.

Estimated Canada Pension Plan (CPP) pension
On your chosen CPP start age of ##, the projected CPP pension is estimated to be:

  • Annual: $###
  • Monthly: $###

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. 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. For more information on CPP, visit the Canada Pension Plan website.

Estimated Old Age Security (OAS) pension
At age ##, the projected OAS pension is estimated to be:

  • Annual: $###
  • Monthly: $###

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 $90,997 per year (and no OAS is payable if your individual income exceeds $148,065 per year (in 2024). The Total Retirement Income tool does not cap your OAS benefit, even if your estimated income exceeds the clawback threshold.

Projections, assumptions, and limitations
To calculate your estimated future pension, the DBplus 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.

Data you entered
Date of birth: ####-##-##
Annual pension to December 31, NNNN: $#,###
Annual bridge pension to December 31, NNNN: $#,###
Pensionable service to December 31, NNNN: ##.#####
Earnings: $##,### WeeklyAnnual
Weeks per year: ##
Earnings increase: #.#%
Percent of maximum CPP: NN%
CPP start age: NN
Percent of maximum OAS: NN%
OAS start age: NN

Values used in the calculation

Retirement Assumptions (used in determining the pension from DBplus)
Retirement Age: ## Retirement Date: ##
Estimated eligibility service: ##.#####

Retirement assumptions

Plan parameters
Early Retirement Reduction – applies to your DBprime pension: ##%
Early Retirement Reduction – applies to your DBplus pension: ##%
AIW rate – applies to your DBplus pension:

NN%

Annual DBplus Pension Factor: 8.5%

  • Annual Pension Factor increase: 9.5% starting January 1, 2025

Projected post-retirement inflation protection – applies to your DBplus pension: 1.53%

Future (projected) values and assumptions are not guarantees. They are used for projection purposes only. Refer to Projections, Assumptions, and Limitations in “Help” for more.

Contribution Rate: ##%

Purchase
Total T4 earnings: $NN,NNN
 Purchase amount: $NN,NNN
Date of purchase: ####-##-##
Purchase adjustment factor: #.#%
This amount depends on your years from normal retirement at the date of the purchase. If you make your purchase when you are more than 25 years from your normal retirement date the adjustment factor is 100%, i.e. the purchased benefit is equal to the applicable Annual Pension Factor, multiplied by the purchase amount. If you are less than 25 years from your normal retirement date, the 100% adjustment is decreased by 1.4% per year, calculated on a day-by-day basis, reducing the purchased benefit.

Purchases
The amount eligible for purchase is limited by the Income Tax Act. The estimator does not validate that the funds you input are eligible for purchase. This validation is done as part of the purchase process. If you enter a purchase amount in the "See the value of your purchase" panel, you can see the resulting pension in the "Pension projections (annual)" graph. To see the impact of the purchase on your lifetime pension, make sure to click the “Show both” radio button.

CPP
The CPP at your chosen start date is an estimate. To reach it, the DBplus Estimator takes these steps:

  1. 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.
  2. 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).
  3. 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.)
  4. Reduces that amount based on the percentage of the maximum you chose (if you chose less than 100%).
  5. 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.
  6. 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).
  7. 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.

OAS
The OAS at your age 65 is an estimate. To reach it, the DBplus 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 DBplus Estimator increases the estimated OAS pension 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.

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 capped by applying the ITA maximum limits for contributions and benefits.

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.

Note that CAAT RCA eligible service excludes any time you were an active member of DBplus.

More

  • For explanations and definitions click "Help".
  • Refer to the "Customize my estimate" panel to make changes to your data or estimate your pension at a different date or age.

All amounts shown are gross.