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I'd expect the Translink pension to give you 2% (of your avg annual salary over 5 years) per year of service. So let's say you are 40 right now. If you do 25 years at Translink (or pretty much any other job in provincial public service) and retire at 65 when you are making $100k/yr (just to make the calculation easy), your retirement pension is very roughly going to be:
[25 yrs of service] x [2% per year] = 50%
pension = $100k x 50% = $50k per year
In reality, there are lots of subtleties in how you structure your pension to skew the payouts a bit. But we won't go into that unless you are really interested. And even then, every person's pay out plan is going to be very different and highly customized.
The accumulated pension amounts are pretty much transferrable to all other public sector jobs though. So that means if you decide to take up another higher paying public sector job, your years of service still counts, and you benefit from the calculation using the average of your 5 most high paying years to determine your pension payment.
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Quote:
Originally Posted by westopher
The whole world has gone down a road no one can recover from, and it's nothing to do with governments, it's because so much of the general public is so fucking stupid.
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