Interactive example of a statement

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To make it easier to understand, an example of the member annual statement is provided below.
It shows all possible sections of a complete statement. Expressions in blue are clickable to obtain more information.

• Interactive example of a statement
• The new statement: its advantages
• Survey
• Frequently-asked questions
• Explanatory leaflet (appended to your statement)

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Your annual statement (Year)

(Name of pension plan)

 

NAME OF MEMBER
ADDRESS
 

CARRA is pleased to send you your annual statement. Your statement provides you with the status of your participation in your pension plan for the year ended on December 31, 2010 and informs you of the benefits you are entitled to upon retirement or end of employment. We recommend that you read it carefully. If you find an error, please contact your employer.

Note that all the amounts on this statement are in today’s dollars (without indexation) and they take into account applicable tax limits.

 

Identifier	999999999		Pension with no reduction
Date of birth	mouth day, year		Date of retirement	May 12, 2020
Date participation began	August 31, 1998		Annual pension estimate

 

			until age 65	$10,700.00
			as of age 65	$7,073.90

 

Sex	Female		Percentage*	28%
Annual basic salary in 2010	$38,092.60		* The percentage shown above (28%) corresponds to the proportion of your annual pension estimate ($10,700.00) over your salary in 2010 ($38,092.60). CARRA has estimated these annual amounts assuming that you will continue to participate in your plan in the same manner as you are doing now until your retirement. Another scenario and additional information are provided hereunder.
Service for eligibility	11.3423 year(s)
Service for calculation	6.8273 year(s)
Contributions with interest	$12,023.21

 

 

Participation in 2010

The information below was determined with data received from your employer. It was used to determine your participation in the plan for the year 2010. If you find an error, please contact your employer.

Information provided by your employer
Employer : Employer’s name
Pensionable salary	$26,014.54
Employee contributions	$1,219.57
Percentage of time worked	68.64%

 

Retirement pension

Your pension plan can pay you retirement benefits as of May 12, 2015, but your pension will be reduced. As of May 12, 2020, you can retire and receive a pension with no reduction.

	Pension with no reduction	Pension with reduction
Date of retirement	May 12, 2020	May 12, 2015
Annual pension estimate until age 65	$10,700.00	$6,505.60
Annual pension estimate as of age 65*	$7,073.90	$3,704.47
* When you reach 65 years of age, your pension will be reduced because of the integration of your plan with the Québec Pension Plan . You can find more information on that subject on CARRA’s Web site.

CARRA has estimated these annual amounts assuming that you will continue to participate in your plan in the same manner as you are doing now until your retirement. These amounts were determined on the basis of your annual basic salary for 2010 and they do not take into account your future wage increases.

Indexation of your pension

Once payment has begun, your pension will be indexed on January 1 of each year, according to the formula corresponding to your situation. You can find more information on that matter on CARRA’s Web site.

Other retirement income

When you turn 60, you can apply for your pension under the Québec Pension Plan. In addition, at age 65, you will be entitled to the Old Age Security pension. You can obtain more information by contacting these agencies :

 

Régie des rentes du Québec Web site:     www.rrq.gouv.qc.ca Telephone:   1 800 463-5185

Service Canada > Old Age Security pension Web site:     www.servicecanada.gc.ca Telephone:   1 800 277-9915

In case of death

As at the date of this statement, your spouse would be entitled to the refund of the higher amount between your contributions with interest and the value of your deferred pension. If you don’t have a spouse, the refund will go to your heirs. When you become eligible for retirement, the benefits payable in the event of your death will be different.

If you stop working before being eligible for a pension

If you had stopped working on December 31, 2010, you would have been entitled to an annual pension of $3,207.13, payable as of age 65.  

 

Credited service

	Service credited for calculation year(s)			Service credited for eligibility year(s)
Service credited as at December 31, 2009		6.1409			10.3423
Service performed in 2010	+	0.6864	+		1.0000
Service credited as at December 31, 2010		6.8273			11.3423

Contributions

Contributions with interest as at December 31, 2010
Contributions with interest as at December 31, 2009		$10,593.79
Employee contributions in 2010	+	$1,219.57
Interest credited in 2010*	+	$209.85
Contributions with interest as at December 31, 2010		$12,023.21

*   The interest rate is -3.94% from January 1 to May 31 and -4.78% from June 1 to December 31.

The information provided in this document does not replace the act and the regulations specific to your pension plan, which remain the only official reference.

Contact information

Commission administrative des régimes de retraite et d’assurances 475, rue Saint-Amable Québec (Québec)  G1R 5X3 418 643‑4881 (Québec City area) 1 800 463‑5533 (toll free)

Web site www.carra.gouv.qc.ca