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ASSUMPTIONS AND INPUTS

• The annuity rates are provided for information purposes only and are updated monthly in arrears.   
• Annuity rates are subject to market movements and also vary depending on the insurer. For more up-to-date annuity rates, please contact your personal financial advisor. For further information regarding appointing a financial advisor and preferential rates offered to UCTRF members, click here.  
• No commission has been included in the annuity calculations. 
• The guaranteed payment period of 5 years applies.
• For married members, a 75% spouse's pension (joint life annuity) is included. 
• For married members, it is assumed that the female spouse is 3 years younger than the male spouse. 
• Pensions are payable at the end of each month (monthly in arrears) and are payable for the lifetime of the pensioner.
• Pensions are reflected gross of tax.

TERMINOLOGY: 

• 75% spouse’s pension (joint life annuity)

This means that upon the death of the principal pensioner, the surviving spouse will receive a pension equal to 75% of the pension being paid at the time of death.

• Expected monthly pension

The initial gross monthly pension amount before tax, fund deductions, and future increases.

• Guaranteed period

This is the minimum period (in this case, 5 years) for which pension payments are guaranteed, regardless of whether the pensioner survives for the full period. If the pensioner passes away within the guaranteed period, the pension will continue to be paid to the nominated Beneficiary (or estate) for the remainder of the guaranteed term.

For more information on the different pension options referred to in the calculator below, please click here. For a definition on the different pension products listed below, please click here.