Our customer surveys show us that many visitors to PBGC.gov are looking for an estimate of their retirement benefit. We'd love to provide an instant benefit estimate via MyPBA, but it takes our trained pension experts time to carefully evaluate your personal benefit situation in order to give you an accurate estimate.
Calculating pension benefit estimates is complicated because each plan has its own rules, provisions and benefit formulas. No two plans are the same! After we determine the plan's benefits, we apply legal limits to your individual benefit. We want to make sure we're paying all the benefits you're due, up to the legal limit.
If you're ready to begin receiving your PBGC benefit, requesting an estimate is easy. Our goal is to calculate benefit estimates within 45 days, but it can take longer when we have a large number of requests. When this happens, we prioritize requests from people nearing retirement. Rest assured we'll notify you if your estimate takes more than 45 days.
When you're ready to apply for your pension benefit, we'll need the following information:
- Social Security number
- Pension plan name and number
- Date you'll start drawing your benefit
- Your spouse's information, if married
- Other beneficiary information, if applicable
Also, we offer several benefit options. Be sure to review them so you'll know what's available to you. Our goal is to help you transition seamlessly into retirement, so feel free to reach out to us with questions or concerns through our Customer Contact Center.
Interested in more blog posts like this one? Sign up to receive updates from Retirement Matters.