Alberta Sheriff Persona

Meet Jason

Alberta Sheriff considering a transfer into the Special Forces Pension Plan.

Age 35
Pensionable Service in pspp 10 Years
Retirement Goal Age 55
 
Current Peace Officer Salary

$91,000 

Expected ASPS Salary

$93,000 

PSPP pensionable service recognized by SFPP

71%

Transfer Shortfall 

$70,000 

Become a police officer, 
join SFPP,

do not purchase the $70,000 shortfall

Annual base SFPP pension $91,000 + $21,000 ($15,000 SFPP bridge benefit (paid until age 65) 
Annual SFPP bridge benefit (paid until age 65) $15,000 
Projected years of pensionable service at retirement 27.1 Years 7.1 yrs transferred from PSPP + 20.0 yrs as police officer in SFPP 
Projected highest average earnings at retirement $206,000 
Through SFPP’s ‘25 + out’ provision, the earliest retirement Age with an unreduced pension

52.9 yrs

Become a police officer, 
join SFPP,

purchase the $70,000 shortfall.

Annual base SFPP pension $101,000 + $23,000 ($23,000 SFPP bridge benefit (paid until age 65) 
Annual SFPP bridge benefit (paid until age 65) $23,000 
Projected years of pensionable service at retirement 30.0 Years 10.0 transferred from PSPP + 20.0 years in SFPP 
Projected highest average earnings at retirement $206,000 
Through SFPP’s ‘25 + out’ provision, the earliest retirement Age  with an unreduced pension 50.0 yrs 

Supporting Information

Terms and Assumptions

Reduced pension

A reduced pension happens if you start your PSPP pension earlier than the Plan’s normal retirement age or have not met specific conditions (such as a certain age and years of service) that allow you to retire without a reduction.

 

Disclamer: Seek advice from a qualified financial advisor before relying on any speculative pension calculation, exercising any pension option, or making any pension change. All personas and examples used in this document refer to fictional people and situations and are not based on real people. Any likeness to real people, living or dead, is coincidental.
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