|Your Retirement Income at Age 65|
|Enhanced CPP* and OAS Benefits||20,400||23,700||27,000||28,300|
|OPTrust Select Pension**||5,700||7,100||8,500||9,900|
|Total Retirement Income||$26,100||$30,800||$35,500||$38,200|
|Income Replacement Ratio||65%||62%||59%||55%|
The example is based on a member with 25 years of service and various final salary levels retiring at age 65.
*Assumes member contributes to CPP for full career at level consistent with average salary
**Assumes earnings increase by 2.5% each year and benefit reflects upgrades before retirement of 2% each year
OPTrust Select pensions are calculated based on your career average earnings multiplied by 0.6% for each year of service you earn in the Plan. Depending on the financial status of the Plan, the Board of Trustees will meet annually to determine whether active members should receive upgrades and pensions in pay should receive a cost of living increase. Upgrades before retirement can range from 0 to 100% of the increase in the previous year’s average industrial wage (AIW) and cost of living increases for pensioners can range from 0-100% of the increase in the Consumer Price Index (CPI).