The Tier2/2A/3 pension breakpoint has been updated for 2017. The breakpoint is now $77,889.
The breakpoint has increased by roughly 3.6% for the past 3 years, to the advantage of our members and thanks to our union's push at the bargaining table.
This increase is an improvement compared with the first 30 years in which the breakpoint rose by 6% per year.
Tier2/2A/3 has a multiplier of 1.4% times years of service times salary and an increase of .4333% times years of service for salary above the breakpoint.
This means that your pension will be roughly calculated as follows:
.014 x YrsOfService x Avg Salary
.004333 x YrsOfService x Avg Salary Above The Breakpoint
(for the first 35 years of service. Otherwise calculate1.625% for service years beyond 35.)