Weighing Your Options

Treasury Board Secretariat 
Pensions and Benefits Sector

This tool provides you with information related to your options when leaving the Public Service.

This tool is provided for information purposes only and is not a legal document establishing your rights and/or obligations. In the event of a discrepancy with the Public Service Superannuation Act, Public Service Superannuation Regulations , or any other relevant legislation, the legislative provisions shall take precedence.

NOTE: In Weighing Your Options, the expression "years of service" refers to "pensionable years of service" as defined in the Public Service Superannuation Act , which establishes the Public Service Pension Plan (PSPP).

• Introduction
• Options
  • At least 2 years of service
  • Less than 2 years of service
• Steps Towards Making a Decision
  • Step 1: Knowing your options (points to consider)
    • Pension Transfer
    • Transfer Value
    • Deferred Annuity
    • Annual Allowance
    • Immediate Annuity
  • Step 2: Estimating your benefits
    • Tools
    • Advisors
  • Step 3: Understanding your financial needs
  • Step 4: Preparing a comparison table
• Formulas and Methods
  • Pension (Immediate annuity and deferred annuity)
  • Annual Allowance
  • CPP/QPP Integration
  • Survivor Benefit
  • Child Allowance
  • Return of Contributions
  • Pension Transfer
  • Transfer Value
• Example of Ms. X
  • Scenario 1: Ms. X departs with a transfer value
  • Scenario 2: Ms. X departs with a deferred annuity
  • Scenario 3: Ms. X earns 25 years of service and receives an annual allowance
  • Scenario 4: Ms. X earns 30 years of service and receives an immediate annuity
  • Comparison table
• Links