Your Statement of Participation under a public-sector pension plan

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Your Statement summarizes your participation in your public-sector pension plan using the most recent participation data provided by your employer. The data provided is for the period until 31 December.

Since 2019, your Statement has been simplified even more and personalized to help you plan your retirement. Retirement is like any other life project (studies, travels, car or house purchase), in that it requires planning. Do not hesitate to consult a financial planner to help you assess your situation and elaborate a plan that corresponds to your needs and financial resources.

Your Statement gives you privileged access to information concerning your membership in a public-sector pension plan. You will find, for example:

  • personalized retirement scenarios that are based on your years of service and age when you retire
  • your years of service, as well as your contributions and interest accrued under your public-sector pension plan
  • your rights and advantages, such as the days of absence that you can buy back.

You will need your Statement:

  • for an overview of your retirement income under your public-sector pension plan;
  • to plan your retirement;
  • to use our Buy-Back Cost Estimator This link will open in a new window. tool to assess how a buy-back of your days of absence will affect your pension and when you retire;
  • to use our Pension Estimator This link will open in a new window. tool to obtain other retirement scenarios;
  • for when you meet with your financial planner.

This section on your Statement of Participation introduces you to personalized retirement scenarios derived from your years of service and age when you retire.

The scenarios are designed using data Retraite Québec receives from your employer.

Since you are contributing to a public-sector pension plan, your employer or employers deduct contributions from your salary and pay them into your pension plan, which gives you entitlement to benefits payable when you retire or your employment ends.

Below are three different retirement scenarios based on various eligibility requirements:

  • the 1st scenario shows the person's earliest possible retirement date with a reduced pension at age 55. The retirement pension amount will be reduced permanently;
  • the 2nd scenario shows the person's eligibility for an unreduced retirement pension at age 56, that is, after 35 years of service. The retirement pension amount is not reduced;
  • the 3rd scenario shows the person's estimated retirement pension amount at age 65.

If you would like to obtain the percentage of the current annual salary that will correspond to the pension you will receive when you retire, you can make the following calculation: (Estimated pension / Pensionable salary) X 100.

Estimated amount of your retirement pension

Your age at the time you retire and the number of years of service you have accrued will have an effect on the amount of your retirement pension.

 

Please note that pension credits and additional pensions are included in the pension estimates indicated on your Statement. On the first page of your information sheet, under the Estimate of your pension section, a note will indicate what is included in your pension estimates.

Reduction in the amount of your pension at age 65

Under your pension plan, your retirement pension amount decreases when you turn 65. The reduction could be offset in part or in full by the Québec Pension Plan (QPP), the Old Age Security (OAS) pension from the federal government or personal savings. For more information, please consult the Integration of your public-sector pension plan with the Québec Pension Plan (QPP) brochure.

For other retirement scenarios, you can use the Pension Estimator This link will open in a new window. tool.

Possible variations in your retirement pension amount

The amounts indicated in your Statement are an estimate of the amounts that you could receive when you retire. The actual amount of your retirement pension could differ if there are changes during your career (e.g. salary, hours of work, days of absence, buy-backs, etc.).

Your pension estimate takes into account the partition of the benefits accrued under the pension plan indicated in your file following the breakdown of your union. For partition to be taken into account, it must have been carried out before the date of the Statement. If this is not the case, the estimates do not take into account partition because, as of the date of the Statement, no partition was indicated in your file.

In addition, on the first page of your information sheet, in the Estimate of your pension section, a note will indicate if partition has been taken into account for your pension estimate.

For more information about partition, consult the In the Event of the Breakdown of Your Union web page.

Accruing years of service

In general, to have a complete year of service credited for the purpose of calculating your pension, you must work full-time throughout the year. If you work part-time, your plan will credit part of a year. If the years of service for calculation purposes are less than 1 (1.0000), it usually means that you did not work full-time for the entire year. However, there may be other reasons that you have not been credited a full year. For more information, contact Retraite Québec.

Eligibility for your retirement pension

It is possible to retire on a date different than the ones indicated on your Statement. The dates shown in the scenarios correspond to the dates on which you will meet the first eligibility requirement for an unreduced or reduced pension.

An unreduced retirement pension means that no reduction has been applied to the pension amount because you meet one of the eligibility requirements for an unreduced pension.

If you are eligible for a reduced pension, the amount of your retirement pension will be reduced permanently.

You can also obtain estimates on other dates than the ones indicated in your Statement. You can use the Pension Estimator available on our website.

However, if you wish to obtain an estimate for a retirement date that is in the next 4 to 24 months, you can send us an Application for a Pension Estimate (RSP-009).

For more information on the eligibility requirements for a reduced or unreduced retirement pension, please consult the brochure concerning your public-sector pension plan.

You will find information concerning the indexation of your pension on your Statement of Participation and Information Sheet. It shows the increase in the amount of the pension you are currently receiving, or are to receive, in accordance with the rate of increase of the Pension Index (PI). The PI is determined in accordance with the Act respecting the Québec Pension Plan.

Retraite Québec uses the PI to determine the indexation rate for benefits paid under public-sector pension plans. The Information Sheet enclosed with your Statement of Participation indicates the current indexation rate.

Indexation of your pension

Once you begin receiving your pension, it will be indexed on 1 January each year according to your plan's rules, the periods of service you have accrued and the applicable indexation rate.

 

This portion of your Statement of Participation indicates the amounts to which you would be entitled if you end your employment during the period of service that is taken into account when your Statement is produced. In addition, it shows the amounts your spouse or heirs could receive in the event of your death.

 

Important

The participation data indicated on your Statement of Participation is derived from the Annual Information Return (AIR) submitted to Retraite Québec by your employer or employers. If the information provided in the Statement is incorrect, you must contact your employer to have it corrected.

In certain situations, no Statement will be sent. It is the case for someone:

  • who retired during the year
  • whose application for a retirement pension is being processed
  • age 69 or over, or in phased retirement
  • whose employment status changed during the year. For example, a person who no longer contributes to a public-sector pension plan, works for an employer who is not subject to the public-sector pension plan and does not receive a retirement pension under a public-sector pension plan.

Individuals in such situations will not receive a Statement of Participation, but a document adapted to their situation. For example, if you are already receiving a retirement pension, we will send you a statement of benefits called Your Pension.

For an estimate of your retirement pension amount, use our Pension Estimator This link will open in a new window. tool.

Employment in 2018

The information below was established using data provided by your employer. If you note that the data do not match your personal situation, please contact your employer.

 

This section in your Statement of Participation indicates your contributions under your public-sector pension plan, as well as the amounts transferred from another pension plan. In addition, it shows the interest accrued as at 31 December of the previous year.

If you bought back days of absence during the year of the Statement or a prior year, but your buy-back is still being paid, you will also find that information in this section of your Statement of Participation.

The interest on your contributions is calculated according to the rate in effect during each period of the year taken into account when producing your Statement. It is calculated proportionally to each period. The interest rate applied to the contributions may vary throughout a given year.

A negative interest rate does not have any impact on your retirement pension amount because your pension is calculated based on a fixed formula, and not on the total amount of your contributions and accrued interest. However, it affects the total because, for the period during which the interest rate is negative, no interest is accrued on your contributions.

Years of service and contributions

According to the data provided by your employers, as at 31 December 2018, you had accrued 126 days that could be bought back.

 

This section of your personalized Statement of Participation indicates whether you have days of absence that you can buy back. If your Statement contains a table showing days of absence, you can buy back periods of absence without pay (parental leave, compassionate care leave) that were not credited to you under your pension plan. Whether you are working full-time or part-time, buying back those days of absence could increase your retirement pension amount or allow you to retire earlier.

If you bought back periods of absence before 31 December, they will no longer be indicated in the section entitled Days of absence that can be bought back. However, the service recognized for the buy-back as well as the contributions will be indicated in the section entitled Years of service and contributions.

If the periods of absence were bought back in the year of the Statement or the payment of the buy-back is still in progress, it will be indicated in the section entitled Years of service and contributions on the line entitled Buy-back.

If the periods of absence were bought back a year prior to the year of the Statement and the buy-back was fully paid, it will be indicated in the section entitled Years of service and contributions on the first line of the table entitled Cumulative as at 31 December of the year preceding the Statement.

References for buy-backs

Use our Buy-Back Cost Estimator This link will open in a new window. tool for a buy-back estimate.

For more information, consult our Buy-Backs publication

Absences that can be bought back

According to the data provided by your employers, as at 31 December 2018, you had accrued 126 days that could be bought back.

 

The table can show the following types of absence:

  • Absence without pay
  • Absence for parental leave
  • Absence for compassionate care leave

If your pension plan so provides, when the amount of your pension is calculated, up to 90 days can be automatically recognized at no cost to offset certain periods of absence. In the example above, out of your 126 days of absences that can be bought back, 90 days are recognized automatically at no cost. This means that you would only have 36 days to buy-back to offset the periods of absence. The 90 days as well as the 36 days would therefore be considered in the pension estimates presented at the beginning of your Statement.

If you wish to modify any personal information (family name, given name, date of birth or postal address), you must send a request to Retraite Québec.

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