How Do I Work Out My Own Pension?
[I] Your years of past service credits
[ii] Your past service pension at
Age 65 ($12.00 x [I])
[iii] Your future service pension earned
As of your most recent pension
Statement
[iv] Your age at the date of your most
recent statement
[v] Years from statement date until
Age 65 (65 less [v])
[vi] Average annual hours you expect
to work over the period from your
most recent statement until age
65 (to next lower 100 hours)
[vii) Estimated future service pension
for the year((vi) ? 100 multiplied
by $2.35)
[viii] Estimated future service pension
for all years after your most recent
statement ([v] multiplied by [vii])
[ix] Total estimated monthly pension
at age 65 ([ii] plus [iii] plus [viii])
Example
9 years
$108
$266
40
25
1800
$ 42.30
$1,057.50
$1,431.50
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Your actual pension will depend on your actual Credited Past Service and your actual credited hours after entry to the Plan. Pensions are also subject to a maximum limit imposed by the Tax Department.
Prairie Teamsters Administration Services Ltd.
209, 7260 - 12 St SE Calgary, Alberta T2H 2S5
Telephone 403-252-6924 - Toll Free1-877-817-7526 - Fax 403-253-3231