Pension calculator, buyout rate,pensions paid
Average pension rates vary by province, so you need to check the provincial pension buyout formula, which is used in most Canadian provinces.
Pension buyouts are different from retirement savings because they are a way for employers to offset the cost of employee health care.
In contrast, a retirement savings plan is designed to allow you to earn enough money in retirement to cover the costs of your own care and care for your family.
Calculating pension rates is important if you want to be prepared for a potential loss of income or if you plan to have more than one child in retirement.
To calculate a province’s pension buyouts, you need: A provincial pension plan’s annual contribution rate to the plan’s average pension rate