The Pension Estimate Calculator provides pension estimates only. The data, information or results contained in, furnished by or obtained from the use of the Pension Estimate Calculator is for the general guidance of pension plan members with respect to pension plan benefits.
Estimate calculations are based on the data entered by you and do not take into account any restrictions applicable under the Income Tax Act. For pension estimates (other than estimates calculated using the Employee Statement of Pension Benefits as detailed in the section below), the estimate calculations are based on the assumption that you were employed on a full-time basis, that you had no "break in service", and that your service immediately precedes your Date of Termination. If these conditions are not true, or the information you entered is incorrect, the estimate calculations would likely be incorrect.
Employee Statement of Pension Benefits
A number of pension plans have revised the format of their annual Employee Statement of Pension Benefits to include an "Online Calculator Tool Benefit Information" section for members. This section of the statement provides members the ability to use data extracted directly from their pay and pension records and enter it within the Pension Estimate Calculator. The pension plans which have implemented the functionality to utilize data from the Employee Statement of Pension Benefits in the calculation of pension estimates are as follows:
- New Brunswick Teachers' Pension Plan - available for the statement period ending August 31, 2014 onward
- New Brunswick Public Service Pension Plan - available for the statement period ending December 31, 2013 onward
- Shared Risk Plan for Certain Bargaining Employees of NB Hospitals - available for the statement period ending December 31, 2012 onward
- Shared Risk Plan for CUPE Employees of NB Hospitals - available for the statement period ending December 31, 2012 onward
If using the Employee Statement of Pension Benefits to calculate pension estimates, the user should select "Yes" in the "Using Employee Statement of Pension Benefits?" section of the Pension Estimate Calculator.
Please note that the amounts provided within the Employee Statement of Pension Benefits are based on pensionable service and salary as reported by the employer. If there are any discrepancies in the information reported by the employer, the estimate calculations would likely be incorrect. As well, the amounts reported would change with any additional service or salary increases which occur after the date indicated on the statement.
The information you provide and the estimates that are created are not reviewed, audited or verified by Vestcor Pension Services Corporation. As a result the pension estimates produced by this calculator are not binding on the Province, the applicable Board of Trustees, Vestcor Pension Services Corporation, their employees and/or agents, and have no legal authority.
No responsibility is accepted by or on behalf of the Province, the applicable Board of Trustees, Vestcor Pension Services Corporation, their employees and/or agents for any errors, omissions, or misleading statements obtained through the use of the Pension Estimate Calculator.
In using the Pension Estimate Calculator, you should be mindful not to rely on the pension estimates produced to make any decisions or take any action with respect to your entitlements under your pension plan, as the results are subject to any discrepancies contained in the information utilized to generate the estimate calculations. Furthermore, any entitlement to pension plan benefits would be governed by the applicable legislation and the provisions of your pension plan.
If you are within 12 months of retirement or if you are terminating your employment, you may request a formal pension estimate. Such a request should be forwarded to Vestcor Pension Services Corporation through your human resource or payroll section. Additionally, pension plan members or their authorized representatives who require further information should contact Vestcor Pension Services Corporation.