University of Manitoba - Formula Pension Calculator

Instructions

Enter your estimated values into the fields below.

For Retirement Date, select a date to retire where your age will be 55-69 years old.

For Best Five Year Average Annual Earnings, enter your average annual salary over the last 5 years or use your current annual salary for estimating purposes. If you are not Full-Time, estimate your Full-Time Equivalent (FTE) annual earnings. For example, Part-Time earnings of $25,000 per year @ 50% FTE = $50,000 annual FTE earnings.

For Years of Credited Service, enter the number of years and part years you will have contributed to the pension plan. Do not include any periods when you were not, or will not be, contributing to the pension plan. Your credited service is reported on your annual pension statement.

Birth Date: -
Normal (Unreduced)
Retirement Date:
Retirement Date: -
Retirement Age in years
and complete months
(must be 55-69):
CRA Unreduced
Retirement Date:
Best Five Year Average Annual Earnings:
Years of Credited Service:
CPPYMPE for : *
Plan Maximum Annual Pension
for :		 *
 

*subject to change each calendar year

University of Manitoba - Formula Pension Calculator

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University of Manitoba - Formula Pension Calculator

Formula Pension Estimate
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Pension Payable for Member's Lifetime
with a minimum 5 year guarantee period**
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.
Assumptions
Birth Date:
Normal (Unreduced)
Retirement Date:
Retirement Date:
Retirement Age in years
and complete months
(must be 55-69):
CRA Unreduced
Retirement Date:
Best Five Year Average Annual Earnings:
Years of Credited Service:
CPPYMPE for :
Plan Maximum Annual Pension
for :
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)
$2,477.78 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($,  $) = $
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