What is the formula used to calculate my pension?
The formula is 2% multiplied by your years of pensionable service multiplied by your average salary for your 5 best consecutive years. Keep in mind that calculating your pension is more complicated than it appears. Members can refer to the “Your Pension Plan” booklet found on our website for more information and examples. Your annual statement also provides you with an estimate. If your annual statement does not provide all the information you require, contact your Compensation Advisor or the PSPC.
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