DBplus Evaluation Tool

Use this tool if you work part time or on contract for an Ontario College or related employer, you're not yet a member, and you're considering joining.

Get an estimate

It's easy to estimate the value of a pension in DBplus by the CAAT Pension Plan.

With just a few pieces of information, get an estimate of the valuable lifetime retirement income you could earn in DBplus, and compare it to the contributions you would make.

Need help? Click the “Help” button to learn more.

Try the DBplus Evaluation Tool if you are not currently a member of the CAAT Pension Plan.

How does it work?

You enter your birth date, earnings, and an enrolment date, and the tool projects your pension. The DBplus Evaluation Tool starts by showing your pension at age 65. Once you've seen the annual pension, click "Show the value of my pension" to see the value of a lifetime of pension payments compared to your contributions.

This tool assumes that you are between the ages of 16 and 70 years old. You must stop contributing to your pension plan and start collecting your pension by the end of the year in which you turn age 71. If you are age 70 and considering joining the Plan, please contact the CAAT Pension Plan for more information.

You can choose any retirement date or age (from age 50 to the end of the year you turn 71) to model any retirement scenario.

To use the Estimator you must read and accept the Terms of Use.

The DBplus Evaluation Tool was developed to illustrate the value of a DBplus lifetime pension. Results are based on information you provide, and are not reviewed or verified by the CAAT Pension Plan, or your employer.

The DBplus Evaluation Tool 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 Evaluation Tool based on the Plan's actuarial assumptions and/or Plan terms. You can learn more on our website.

Use of the DBplus Evaluation Tool does not imply entitlement to a pension.

These estimates are not binding on the CAAT Pension Plan, or your employer.

The results from the DBplus Evaluation Tool should not be considered financial advice.

Benefits payable under a registered pension plan, such as the CAAT Pension Plan are capped at the Income Tax Act (ITA) Maximum pension limit.

To accept the Terms of Use, check the button on the right and click "Start".

I agree to the terms of use

You must be between the ages of 16 and 70 to start the projection.

What is your date of birth? (Select year first, followed by month and day)

You must choose a date after today’s date.

Choose an enrolment date
(Select year first, followed by month and day)

Will you use annual or weekly earnings?

Weekly
Annual

Please enter your annual earnings.

What are your annual earnings? (Do not enter decimals (e.g. 30000))

Please enter your weekly earnings.

What are your weekly earnings? (Do not enter decimals (e.g. 30000))

Indicate how many weeks you work in year.

Enter the number of weeks you work per year. [1-52]

After you have made changes, click on "Calculate" to see the impact on your pension. Click "Reset" to go back to the original. For details on the impact of each assumption, refer to the "Help" files.

Calculation assumptions

Basic information

Date of birth

Date of enrolment

Annual / Weekly Weekly
Annual

Earnings

Weeks worked

Earning increase

Choose a different retirement age

Retirement age

Pension Plan assumptions

Contribution rate

Early start adjustment

AIW Enhancement rate

Annual pension factor

Post-retirement inflation protection

After you have made changes, click on "Calculate" to see the impact on your pension. Click "Reset" to go back to the original. For details on the impact of each assumption, refer to the "Help" files.

Age NN

Enter required values to start projection

Click “Show the value of my pension” to see the excellent value a pension from DBplus provides over your lifetime in retirement.

All amounts shown are gross.

Lifetime pension at retirement age

This is the amount that would be payable to you at the retirement age shown above, for life.

	Base pension	AIW enhancement	Total annual pension
Lifetime pension	$NN,NNN	$NN,NNN	$NN,NNN

Understanding the output

Lifetime pension at retirement age – this is based on the pension you would accrue at your normal retirement date (the end of the month you reach age 65). If you chose a different retirement age in the “Calculation assumptions” panel, the graph uses that age instead. Note that if you retire before age 65, the pension would receive an early start adjustment, to reflect the fact that you are receiving it for longer.

Graphs

The “Annual Pension” graph shows the estimated total annual pension

There are two parts to the total pension:

Base pension: This is the amount earned each year. It is calculated using the pension formula: APF x (member contributions + employer contributions)
AIW enhancement: Your total pension increases each year you work, based on the Average Industrial Wage (AIW) index. The AIW enhancement is applied to the total pension you accrued to the end of the previous year. The AIW enhancement starts in year two of membership, and is cumulative. It is not applied in the year of retirement.

The “Value Comparison” graph illustrates the value of the pension earned in DBplus

This graph shows your total contributions compared to the cumulative value of your pension payments (the annual pension shown in the “Annual Pension” graph).
Your total annual pension is the base pension, plus AIW enhancement while you were working. In retirement, your pension will increase with annual post-retirement inflation protection. In addition, your pension includes survivor benefits, payable to your surviving spouse for their lifetime. DBplus members see excellent value for their contributions.

Assumptions used in the “Value Comparison” graph:

The DBplus Evaluation Tool assumes that you work up to retirement, and start your pension at age 65. Note that you can choose a different age in the “Calculation assumptions” panel.
The DBplus Evaluation Tool assumes your pension is paid to age 90. However, your actual pension is paid for life, no matter how long you live: age 90 is shown for illustration purposes only.
The DBplus Evaluation Tool assumes a survivor pension of 60% of the member's lifetime pension is paid for three years. However, the actual survivor pension would be paid to your eligible surviving spouse no matter how long they live.

Data you entered

Date of birth: 1978-11-01

Enrolment Date: 2018-11-01

Annual Earnings: $35,000

Earnings increase: 2.2%

Retirement age: 65

How your pension is calculated

How to read this table

This table shows the total pension earned at the end of each year of membership. Each row shows information specific to the year in Column "A".

Column “A”: The year in which the pension was earned.
Column “B”: Your earnings for the year, on which your contributions are calculated.
Column “C”: Your contributions for the year calculated as a percentage of the earnings in column “B”.
Column “D”: The base pension earned in the year.
Column “E”: The AIW enhancement applicable for the total pension at the end of the year. It applies to the current year’s base pension, and the total pension accrued to the end of the previous year (in column “F”, one line above). The AIW enhancement starts the year after the first year of membership).
Column “F”: The total lifetime pension accrued at the end of the year. The value in column “F” is equal to: column “D” + column “E” + previous year’s column “F”.
Your total lifetime pension at the end of any year is the amount in column “F”.

To see the total pension at retirement, refer to the last row in column “F”, which shows the annual pension on that retirement date. (Note that if you retire before age 65, the pension would receive an early start adjustment, to reflect the fact that you are receiving it for longer. The chart does not consider any reduction that could be applied.)

A: Year	B: Earnings	C: Contributions	D: Base pension earned in the year	E: Current AIW Enhancement (applicable to each year’s accrual)	F: Total pension accrued to the end of each year
2018	$30,000	$2,700	$459	$0	$459
2019	$30,660	$2,759	$469	$10	$938

Projections, Assumptions, and Limitations

To calculate your estimated future pension, the DBplus Evaluation Tool 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.

Your pension estimates are based on the DBplus pension formula, and the data you entered. They are not guarantees of future pension payments. For explanations and definitions, click the “Help” button.

All amounts shown are gross.

Year	Age	Annual Core	Current AIW	Total Current Benefit	Cumulative AIW	Cumulative Benefit

Year	Age	Year One Ben	Year One CPI	Annual CPI	Total Ben	Total CPI	Total Annual CPI

Year	Year One Annual Pay	Year one Annual Sur	Total Annual Pay	Total Annual Sur