This section on your Statement of Participation introduces you to personalized retirement scenarios derived from your years of service and age when you retire.
The scenarios are designed using data Retraite Québec receives from your employer.
Since you are contributing to a public-sector pension plan, your employer or employers deduct contributions from your salary and pay them into your pension plan, which gives you entitlement to benefits payable when you retire or your employment ends.
Below are three different retirement scenarios based on various eligibility requirements:
- the 1st scenario shows the person's earliest possible retirement date with a reduced pension at age 55. The retirement pension amount will be reduced permanently;
- the 2nd scenario shows the person's eligibility for an unreduced retirement pension at age 56, that is, after 35 years of service. The retirement pension amount is not reduced;
- the 3rd scenario shows the person's estimated retirement pension amount at age 65.
If you would like to obtain the percentage of the current annual salary that will correspond to the pension you will receive when you retire, you can make the following calculation: (Estimated pension / Pensionable salary) X 100.
Estimated amount of your retirement pension
Your age at the time you retire and the number of years of service you have accrued will have an effect on the amount of your retirement pension.
Please note that pension credits and additional pensions are included in the pension estimates indicated on your Statement. On the first page of your information sheet, under the Estimate of your pension section, a note will indicate what is included in your pension estimates.
Reduction in the amount of your pension at age 65
Under your pension plan, your retirement pension amount decreases when you turn 65. The reduction could be offset in part or in full by the Québec Pension Plan (QPP), the Old Age Security (OAS) pension from the federal government or personal savings. For more information, please consult the
Integration of your public-sector pension plan with the Québec Pension Plan (QPP) brochure.
For other retirement scenarios, you can use the
Pension Estimator tool.
Possible variations in your retirement pension amount
The amounts indicated in your Statement are an estimate of the amounts that you could receive when you retire. The actual amount of your retirement pension could differ if there are changes during your career (e.g. salary, hours of work, days of absence, buy-backs, etc.).
Your pension estimate takes into account the partition of the benefits accrued under the pension plan indicated in your file following the breakdown of your union. For partition to be taken into account, it must have been carried out before the date of the Statement. If this is not the case, the estimates do not take into account partition because, as of the date of the Statement, no partition was indicated in your file.
In addition, on the first page of your information sheet, in the Estimate of your pension section, a note will indicate if partition has been taken into account for your pension estimate.
For more information about partition, consult the In the
Event of the Breakdown of Your Union web page.
Accruing years of service
In general, to have a complete year of service credited for the purpose of calculating your pension, you must work full-time throughout the year. If you work part-time, your plan will credit part of a year. If the years of service for calculation purposes are less than 1 (1.0000), it usually means that you did not work full-time for the entire year. However, there may be other reasons that you have not been credited a full year. For more information,
contact Retraite Québec.
Eligibility for your retirement pension
It is possible to retire on a date different than the ones indicated on your Statement. The dates shown in the scenarios correspond to the dates on which you will meet the first eligibility requirement for an unreduced or reduced pension.
unreduced retirement pension means that no reduction has been applied to the pension amount because you meet one of the eligibility requirements for an unreduced pension.
If you are eligible for a
reduced pension, the amount of your retirement pension will be reduced permanently.
You can also obtain estimates on other dates than the ones indicated in your Statement. You can use the Pension Estimator available on our website.
However, if you wish to obtain an estimate for a retirement date that is in the next 4 to 24 months, you can send us an
Application for a Pension Estimate (RSP-009).
For more information on the eligibility requirements for a reduced or unreduced retirement pension, please consult the brochure concerning your
public-sector pension plan.