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Assumptions The values will differ depending on the assumptions entered, and the annuity purchased. Annuity rates are computed using a 2.2 percent interest rate, with a spousal age offset of 2 years, unisex mortality weighting (80% Male 20% Female) assumptions, and using mortality based on CPM 2014, combined with mortality improvement scale (CPM Improvement Scale B) General Overview The PENAD PX Tools Pack Pension Calculator will show you how much pension you might expect to purchase given assumptions about your current and future savings. On the left, enter the assumptions to be used in the calculation. On the right, a table will show how your pension plan contributions will grow over time. At the bottom left, you will be shown how much pension you'll be able to purchase at various ages. Remember that these values are for illustration purposes only. Sex Enter either Male or Female. Current Age Enter your current age in years. The maximum age you can enter is 89. If you enter a higher number, 89 will be used. Opening Balance Enter the amount currently saved in your pension plan. Interest Rate At what interest rate should the software accumulate your savings for illustration purposes. When you enter this number, the software will compute the equivalent monthly interest rate and show that value immediately to the right. Salary Enter your current annual salary in dollars. When you enter this number, the software will compute your monthly salary and display it immediately to the right. Salary Increase Enter the rate at which you expect your salary to increase each year. EE contrib. Rate Enter the Employee contribution rate for your pension plan. That is, what percentage of your salary will be saved. ER contrib. Rate Enter the Employer contribution rate for your pension plan. That is, what percentage of your salary will be paid by your employer. Annuity Purchased At the bottom left, you'll see the amount of pension you may be able to purchase at various ages, based on the given assumptions. Remember these values are for illustration purposes only. The first choice shown is for a Single Life annuity, guaranteed 10 years. The second is for a Joint and Survivor annuity, reducing to 60% on the death of the annuitant, with a guarantee of 10 years. For each form of annuity you are shown the amount of pension you could purchase if you were to retire at each of 3 different ages. Under Annual, see the total amount you would receive each year. Under Monthly, see the equivalent monthly amount.

PX Tool Pack Pension Calculator Terms of Use

By clicking the "I agree to these terms of use", I confirm I have read and understand the PX Tool Pack Pension Calculator Terms of Use on this page, and want to use the PX Tool Pack Pension Calculator. This Is Not A Calculation of Actual Pension The results of using this pension tool is not a calculation of your actual account value or future pension payments, because your account value and future pension payments can't be calculated accurately until you retire. What this tool allows you to do is to input what you guess could be your possible retirement scenarios, and it then applies assumed pension calculation factors to your input. The results are intended to illustrate the approximate differences between varying retirement scenarios you have thought about--your future account value and actual pension payments could turn out to be quite different from these numbers. As a result, the information you provide and the results that are created are for your information only, and are not reviewed, audited or verified by Penad Pension Services Limited, and are in no way binding on Penad Pension Services Limited regarding the eventual calculation of your pension. More Information About Limitations of the PX Tool Pack Pension Calculator The PX Tools Pack Pension Calculator will show you how much pension you might expect to purchase given assumptions about your current and future savings. Remember that these values are for illustration purposes only. Assumptions The values will differ depending on the assumptions entered, and the annuity actually purchased from a provider. Annuity rates are computed using a 2.2 percent interest rate, with a spousal age offset of 2 years, unisex mortality weighting (80% Male 20% Female) assumptions, and using mortality based on CPM 2014, combined with mortality improvement scale (CPM Improvement Scale B). Seek Professional Advice About Pension Decisions You should not rely on these estimations in making any decisions or taking any action with respect to your pension. Seek advice from a qualified financial advisor before relying on any speculative pension estimation, or exercising any pension option. Privacy The PX Tool Pack Pension Calculator does not store information regarding the inputs or results of individual calculations. Calculations are performed in real time and are only available for use during the current user's session. We may use a cookie to facilitate your use of some of the features on our site. Such a cookie is a simple, browser-controlled text file, which contains a unique identification number identifying your browser and acceptance or non-acceptance of this Terms of Use. We do not use the cookie for any other purpose. Site Use You agree that by using the PX Tool Pack Pension Calculator and www.penad.ca/elcicmembers site that you may not use our site for any unlawful purpose or activity, you acknowledge that everything on our site is our property and that it is protected by copyright and that you may not sell, license or rent it or any part of it nor derive income in any other way from it or its use. You may print one copy of any material on our site for your own personal, non-commercial planning purposes. systematic retrieval of data or other content from this site to create or compile a database or directory is expressly prohibited. our site, its operation and these terms of use shall be governed by and construed in accordance with the laws of the Province of Ontario. Any dispute, suit, action, proceeding or claim arising from or in connection with the site shall be subject to the jurisdiction of the courts in Ontario and nowhere else, and the courts in Ontario shall have exclusive jurisdiction to deal with such matters. Disclaimer Penad Pension Services Limited will make reasonable efforts to ensure that all information, data, statistics, algorithms, assumptions, techniques and calculations are accurate and reliable, but we disclaim all responsibility for the use thereof by you or your agent. You should check carefully any information you provide and you should review any material from our site you decide to use for reasonableness before you proceed. You should consider obtaining a second or expert opinion on matters and decisions which are not within your personal expertise. All materials, information, data, software, products or services (the "Content") included in or available through this site are provided "as is" and "as available" for your personal use only. The Content is provided without warranties of any kind, either express or implied, including implied warranties of fitness for a particular purpose. Penad Pension Services Limited does not warrant that the Content is accurate, reliable or correct, that this site will be available at any particular time or location, that any defects or errors will be corrected, or that the content is free of viruses or other harmful components. Under no circumstances will Penad Pension Services Limited. be liable for any direct, indirect, punitive, incidental, special or consequential damages whatsoever that arise from the use of, or inability to use, this site. This limitation applies whether the alleged liability is based on contract, tort, negligence, strict liability or any other basis, even if Penad Pension Services Limited. has been advised of the possibility of such damage.

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