The Pension Estimator lets you compare between different retirement scenarios you may be thinking about. It allows you to enter your own values for your average salary, pensionable service and retirement age. Then the tool applies the pension formula to your figures in order to show you how much pension you might expect. It's a great tool for exploring 'what if?' scenarios!
If you are thinking about buying back a period of prior service in order to add to your LAPP service, you can use the Buyback Estimator to give you an idea of what it might cost to have service added.
mypensionplan.ca's Pension Projection Calculator uses your actual personal salary and LAPP service to help you project your future pension in planning your retirement. You will need to log in to this secure site.
Income Tax Deductions - Remember that your LAPP pension is subject to income tax. The Canada Revenue Agency has a calculator that can give your an idea of how much those deductions might be.
The Canada Pension Plan (CPP) and Old Age Security (OAS) are government pensions most Canadians have.
The Government of Canada website explains these government programs and provides a calculator which can help with your retirement planning. It can help you understand how each part of the retirement income system will help with your financial security.
I would like to use the Government of Canada's Retirement Income Calculator