AC pension

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M. Essaie
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AC pension

#1 Post by M. Essaie » Sun Nov 09, 2014 11:06 pm

Not a wind-up attempt nor a stick in a hornet's nest, just curious:

If someone had joined AC in 1990 at age 35 and elected to retire this year, what would be the pension he could expect? Would there be large variations in that amount depending on what career choices he or she had made in the interval? For example, I have met several individuals who elected to delay their command in order to remain on the west coast. Would their pensions have suffered greatly when compared to those to took the quickest path to the left seat even if it meant moving to another base?
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ogopogo
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Re: AC pension

#2 Post by ogopogo » Mon Nov 10, 2014 1:34 pm

Isn't it simply a question of a percentage of your final salary / T4?
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cgzro
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Re: AC pension

#3 Post by cgzro » Mon Nov 10, 2014 9:53 pm

quick note on pensions- I was at Nortel 22 years.... You cant rely on a company pension alone... Ours was seriously devalued after bankruptcy. Kids save your own money and never invest in your own company or you risk loosing savings and a job!
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davecessna
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Re: AC pension

#4 Post by davecessna » Tue Nov 11, 2014 8:22 am

cgzro wrote:quick note on pensions- I was at Nortel 22 years.... You cant rely on a company pension alone... Ours was seriously devalued after bankruptcy. Kids save your own money and never invest in your own company or you risk loosing savings and a job!
Here's hoping Bombardier Aero people will tread carefully.
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leftoftrack
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Re: AC pension

#5 Post by leftoftrack » Tue Nov 11, 2014 9:51 am

Isn't it 60% of your best 5 years?
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altiplano
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Re: AC pension

#6 Post by altiplano » Tue Nov 11, 2014 10:28 am

There's a more exact formula but a rough figure would be YOS * 1.9% * best 5/5. To a maximum of 35 years credit.

Since your pension is based on earnings in your best years ie. typically at the end of your career waiting on that Embraer upgrade probably won't kill your pension, maybe want to at least get that 320 cpt seat rounding the corner though...

In your example let's assume your guy retired next year as a 320 cpt at age 60 with 25 yos to avoid reductions.

So... Maybe 320 cpt/777 fo for the best 5 brought in a final average of 190k*25*1.9% = rough number of $90250. Again not accurate but ballpark...
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