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How to Use our Handy Calculator

To calculate your estimated McMaster Pension, fill out all of the information in SECTION A. When complete, press "Compute". The results will be displayed in SECTION B.

Please have a recent Annual Pension Statement ready to complete this calculation. Note that JavaScript is required to use this calculator. If you experience difficulty using this calculator, or you prefer a manual method, you may download a PDF work sheet describing how to calculate your McMaster Pension (PDF).

Annual Pension Estimator

SECTION A  (Enter Data Here)
1. Date you intend to retire:
(This date should be no earlier than your Earliest Unreduced Retirement Date)
1, 20
2. Statement Date:
(Date of most recent Pension Statement)
June 30,  20
3. Pensionable service to statement date:
(Pensionable Service shown on statement)
4. Accrued annual pension benefit at statement date:
(Total Accrued Annual Pension Benefit shown on statement)
(Use digits and decimal points only please – no comma or $)
SECTION B   (Results Appear in the box below)
  Estimated Annual Pension

1.  Assumptions:  The Salaried Pension Plan Estimator is a tool which uses the accrued benefit shown on your pension statement to estimate your future benefit from the Plan.  The estimated pension benefit amount shown above is based on a seven year single life guarantee or a fifty percent joint and survivor pension as applicable.  The above amount does not include income tax deductions

Estimated Total Pensionable Service includes projected service until the retirement date shown above.  It is assumed that you do not terminate your employment with McMaster, and that you will remain an active member of the pension plan and earn pension service until the retirement date specified.

Estimates utilize your Best Average Salary, the Yearly Maximum Pensionable Earnings (YMPE), and the Maximum Pension Limits as of the pension statement date.  Future changes to your earnings, the YMPE, and the Maximum Pension Limits (Income Tax Act) could impact your pension benefit.

The Annual Pension Estimator assumes that you are a Full Time employee. Part time employees may request an estimate for a retirement date within one year of the request date from the HR Service Centre by completing the Pension Estimate Request Form (see # 3).

2. Government Benefits: In addition to the annual pension amount, you may also be eligible at age 65 for Old Age Security benefits and for Canada Pension Plan benefits. For information about these government plans, please see the Service Canada Pensions web page.

3.  Please Note: Employees may request an estimate for a retirement date within one year of the request date from the HR Service Centre by completing the Pension Estimate Request Form. A total of two estimates will be prepared for each Member. If you are interested in obtaining additional estimates you may wish to take your recent pension statement to a certified financial planner.

4.  All benefits are governed by the terms of the Official Pension Plan Text in effect at the time you retire.  In addition, when you retire, Company records of all information used to calculate your pension (date of birth, pensionable service start date, marital status, pension service, and earnings) are subject to verification and correction.