A Plan For Your Future  

On February 24, 2014, the Government of Alberta announced pension plan changes to the Public Service Pension Plan (PSPP). The Honourable Doug Horner, President of Treasury Board and Minister of Finance, explains the plan changes in his letter to plan members.

ALL changes will only affect benefits earned from January 1, 2016 onward.

Changes to PSPP Benefits

Some PSPP benefits will change in 2016, but the most valuable aspects of your pension remain the same.

Here's what is not changing under the new rules:

  • Retirees will not be impacted by the changes and will continue with a pension under the old rules;
  • The PSPP core benefit, which provides a pension for life, based on a member's highest five-year average salary and years of pensionable service, will not change;
  • All benefits earned to December 31, 2015 will not be affected; and
  • PSPP will continue as a managed defined benefit pension plan, which means a monthly pension benefit will be paid for your lifetime and will not be based on the health of financial markets the day you retire.

The changes that take effect in 2016 will modify the plan's ancillary benefits (add-ons). These changes will not impact benefits earned before January 1, 2016. Read more...

Summary of Plan Changes | Frequently Asked Questions | Pension Estimator

  No changes to retirees' benefits