University of Manitoba - Formula Pension Calculator
Terms of Use
University of Manitoba - Formula Pension Calculator
Formula Pension Estimate | |
Print My Estimate | |
Pension Payable for Member's Lifetime with a minimum 5 year guarantee period** |
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Monthly Pension | $ |
**Important: Manitoba pension legislation requires that if you have a spouse/common-law partner when you retire, you must elect a form of pension which continues to be payable to your spouse/common-law partner after your death at a level of at least 60% of the level paid while you were alive. To provide for the continuation of your pension to your spouse/common-law partner after your death, your pension will be reduced from the amount estimated using this calculator. The reduction in your pension will depend on the ages of you and your spouse/common-law partner at retirement. |
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Assumptions | |
Birth Date: | |
Normal (Unreduced) Retirement Date: |
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Retirement Date: | |
Retirement Age in years and complete months (must be 55-69): |
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CRA Unreduced Retirement Date: |
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Best Five Year Average Annual Earnings: | |
Years of Credited Service up to December 31, 2014: | |
Years of Credited Service since January 1, 2015: | |
CPPYMPE: | |
Plan Maximum Annual Pension for post Service: |
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2023 Plan Maximum Annual Pension for pre 2015 service: |
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Formula Calculation | |
$ x 2% x years = $ | |
- MIN($, $) x 0.7% x MIN(, 35) years = -$ | |
Unreduced Annual Pension | $ |
Unreduced Monthly Pension | $ / 12 = $ |
Reduction % for Early Retirement | |
MAX(0,( - )) x 0.25% = % | |
Reduction Amount to Monthly Pension | |
$ x % = $ | |
Reduced Monthly Pension | |
$ - $ = $ | |
Plan Maximum Pension (relates to the maximum limits in the Income Tax Act) |
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x years = $ | |
x years = $ | |
Unreduced Monthly Pension | $ / 12 = $ |
Reduction % for Early Retirement | |
MAX(0, ( - )) x 0.25% = % | |
Reduction Amount to Monthly Pension | |
$ x % = $ | |
Reduced Maximum Monthly Pension | |
$ - $ = $ | |
Lesser of Formula Calculation and Plan Maximum | |
Monthly Pension = MIN($, $) = $ | |
Print My Estimate | |
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