Employers and workers can use new tool to compare contributions with lifetime pension value
With more than 320,000 members and over $70bn in assets, the Local Authorities Pension Plan (LAPP) has introduced a new online tool that highlights the potential long-term benefits of a defined benefit pension.
The Advantage Estimator, launched in August, provides an instant snapshot of projected monthly pension income.
By entering basic details such as age of entry, salary, and expected retirement age, users can compare estimated lifetime pension benefits to total contributions, often showing a return several times greater than the amount paid in.
Troy Mann, president and CEO of LAPP, said the tool helps part-time and early-career employees understand “predictable retirement income scenarios.”
The tool also serves employers and HR teams by allowing them to demonstrate pension value to prospective hires or staff who are eligible but not yet enrolled.
For organizations considering joining LAPP, it offers a way to assess the plan’s impact for their workforce.
According to LAPP, the Advantage Estimator is part of broader efforts to strengthen pension literacy and improve retirement readiness across Alberta’s public sector.
The tool is available at LAPP’s website without requiring login credentials or personal information
