Check out your new pension statement

November 07, 2016

We’ve simplified your Statement of Pension Benefits, so now you’ll see what matters to you most.

Need to know

Your pension is one of your most valuable financial assets, with a variety of benefits to help you maximize your retirement. But what it probably comes down to for you is simply, “when can I retire, and how much will I retire with?”

Now you get your key pension and personal information at a glance, on the very first page. You can see what you’ve earned so far and look ahead to see what your future pension will be, if you’re still teaching.

To learn more, sign in and stay awhile

Your statement is a snapshot in time. For the most up-to-date experience, stay signed in after you review your statement and check out all your online account has to offer. There, you can find your full service record, and if you want to see more retirement projections, simply use the Pension Calculator.

Reviewing notes

  1. If you’ve turned 50, you’ll no longer see your pension’s commuted value (CV). Why? Once you turn 50, you’re eligible for a pension and no longer eligible to withdraw or transfer your CV.
  2. Your projected pensions are based on today’s salary. As you move through your career, your salary will likely increase, and so will the values of these projections.
  3. You’ll see a bridge benefit amount. This benefit ends the month after you turn 65, or earlier if you start a disability pension from the Canada Pension Plan (CPP). By this time you’ll likely be receiving a retirement pension from CPP, and that should make up for the difference in your monthly income once the bridge benefit ends.
  4. Review, and update if necessary, your profile details, including your beneficiary designation.