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Reply to "How do you calculate the value of your federal pension? "
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[quote=Anonymous]This can be thought of as an investment that depends on how long it is until you retire. An investment in equities doubles roughly every decade, so $1K saved 20 years before you retire is very roughly $4K just before you retire. To draw out over a typical retirement you take out perhaps 10% a year to get to zero. This means that $5K saved 20 years before retirement becomes $20K at retirement and this gives you $2K annually in pension. A government pension is about 1% per year of your final salary. Each year you earn a pension that’s probably in the range of $1K-$2K annually. You’ll contribute a few $K to earn that, though, which wipes out most of the benefit. So if you can earn more, take a job without a pension and save the difference. [/quote]
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