TRAF – Teachers' Retirement Allowances Fund
Manitoba
Full pension and early retirement
You get a full pension, with no reduction, at the first of these:
- Age 65
- Age 60 with 10 years of service
- 80 points
Points are your age plus your years of service.
- Earliest retirement
- Age 55
- Retiring earlier
- 3% a year reduction
- Pension formula
- 1.4% of your average pay up to the CPP earnings limit (YMPE) and 2% above it, for each year of service
- Bridge benefit
- None
- Increases after you retire
- 0.85% a year
TRAF also pays a bridging benefit until 65, equal in value to the penalty over your lifetime, which isn't shown here, so before 65 this is low. TRAF's estimate gives your pension until 65 and from 65: enter both in Detailed for the full amounts.
What retiring early costs: an example
Someone joins at 35, is paid $85,000 a year and works until each age below, so their years of service are their age less 35. Amounts are a year, before tax, in today's dollars.
| Retire at | Years of service | Reduction | Pension |
|---|---|---|---|
| 55 | 20 | 15% | $21,800 |
| 56 | 21 | 9% | $24,600 |
| 57 | 22 | 3% | $27,400 |
| 58 | 23 | None | $29,600 |
Retiring at 55 instead of 58 costs twice: 3 fewer years of service, and the reduction on what is left. Early retirement reduction explains both.
What to copy from your paperwork
To use your own numbers in the income timeline:
TRAF's pension estimate gives your pension for the retirement dates you choose. If it lets you add pay raises, leave them at 0%: this tool takes the amounts as today's dollars. If you'd retire before 60 without 80 points, it includes a bridging benefit until 65: enter the pension until 65 and from 65 for two or more ages, including your first with no reduction.
Where these rules come from
- The Teachers' Pensions Act
- Calculating Your Pension · TRAF
- FAQs · TRAF
- Last reviewed October 23, 2026.
These rules are simplified. Your plan's own estimate is the one to rely on; see the disclaimer.