Alberta - Calculate the Retirement Income

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Procedure

Apply online

1. To calculate the Retirement Income online, the applicant has to visit the following apply online
2. Visit the link, read the information provided and click “Continue” button. The calculator tool with respective sections will be opened in the next page.
3. Refer the “Required Documents” section of this page for information required.
4. In the first section, the applicant has to provide his/her general information as applicable in the fields provided and click “Next” button.
5. The second section gives the applicant two options to select whether he/she is contributing to the Quebec Pension Plan (QPP) or the Canada Pension Plan (CPP).
6. Select the applicable option and click “Next” button. Then, the applicant has to provide the relevant details about the CPP.
7. Answer the questions as applicable and click “Next” button. In the next section, the applicant has to answer questions about his/her Employer Pension.
8. Do as applicable and click “Next” button. If the applicant has any other pension plan, he/she has to click “Add Another Plan” button and add that also.
9. Similarly, the applicant has to complete the further sections by following onscreen instructions.
10. At any point, the applicant can go to the previous section by clicking the “Previous” button and clear the details provided by clicking the “Clear” button.
11. Once completed, disclaimer will pop-up in the final section in which the applicant has to click “Continue” button.
12. Upon completion of processing the applicant’s information, the calculator will immediately provide the estimate of applicant’s Retirement income in detail.
13. The applicant need not pay any fees for using the calculator and the service is free.
14. Graphical and Tabular representation will also be available. The applicant can save the report by clicking the “Save report” button or print the summary by clicking the “Print report” button.
15. If the applicant wishes to make another calculation, he/she has to click “Start New Session” button.

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Required Documents

• Canada Pension Plan (CPP) Statement of Contributions
• Quebec Pension Plan (QPP) Statement of Participation
• Financial information about Employer Pension (if applicable)
• Recently obtained Registered Retirement Savings Plan (RRSP) statements
• Annuities Savings statements
• Foreign pensions saving statements
• Survivor pension saving statements

Office Locations & Contacts

Service Canada,
Canada Place, Floor Main
9700, Jasper Avenue,
Edmonton,
Alberta.
Phone: +1 800-622-6232, 1-800-277-9914, 1-800-206-7218
Website link
Service Canada offices address link
Contact CPP link and OAS link

Eligibility

• Any person in Alberta, who has been receiving money from Canada Pension Plan or Quebec Pension Plan, can use the calculator to determine his/her Retirement Income.

Fees

• Calculating the Retirement Income is free of cost.

Validity

Explain the time until which the certificate/document is valid.
e.g. Birth Certificate Valid Forever

Documents to Use

Please attach documents that can be used by people. e.g. links

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

• The results will be immediately provided.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.gIn the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• The calculator’s results are rough estimates and are based on the information that the applicants provided. The results should not be considered financial advice.
• The calculator does not collect information that would enable personal identification. Their anonymous results may be collected for research purposes.
• Low-income pensioners may receive additional income from the Guaranteed Income Supplement (GIS). If the applicant is a low-income pensioner, they may also be entitled to additional income and other benefits from provincial and territorial programs.
• While using the calculator, the applicants are advised to carefully read the notes that appear in each section or besides each fields, to obtain relevant information.

Required Information

• Date of Birth and Gender
• Expectancy of Birth
• Current annual income
• Annual retirement income goal
• Year of CPP or QPP statement
• Monthly retirement pension estimate
• Average annual employment earnings (after retirement)
• Other Employer Pension plan details
• Current total value of Registered Retirement Savings Plan (RRSP)
• Frequency and amount of contribution
• Details of other savings plans
• Details about other sources of income
• Old Age Security receiving year

Need for the Document

Canadian Retirement Income Calculator helps the Canada Pension or Quebec Pension receivers to calculate the annual retirement income that the receiver will get after his/her retirement which will enhance them to make plans for their life after retirement.

Information which might help

• The majority of recent Canadian retirees with an income of $34,000 at age 32 received an annual retirement income of between $19,000 and $32,000 at age 70.
• The applicants can receive an actuarially adjusted CPP retirement pension as early as the age of 60 or as late as 70.
• This means, if the applicants plan to start receiving their CPP retirement pension before 65, their retirement pension will be reduced by a set percentage for each month before age 65 that they choose to begin receiving it. This reduction is permanent.
• If they receive it after 65, their retirement pension is increased by a set percentage for each month after age 65 that they delay receiving it, until age 70.

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

Place some external links which might help.

Others

More information which might help people.