Public Service Pension Plan (PSPP)
The Public Service Pension Plan (PSPP)
was established on April 1, 1967 by the Public Service Pensions
Act. The PSPP is one of five
Defined Benefit Pension Plans
administered by Government. Under Defined Benefit Plans, pensions are
calculated based on a percentage of members years of
pensionable service
and pensionable earnings.
Overall administration of the PSPP is the responsibility of the
Pensions Administration Division, Department of Finance, in
cooperation with the employers who participate in the Plan. Currently
there are approximately 26,300 plan members in the PSPP, including
employees of Crown Corporations, Healthcare Organizations, School
Boards and a variety of other organizations owned or controlled by
Government. There are approximately 10,900 pensioners. The primary
objective of the PSPP is to help plan members prepare for a
comfortable retirement.
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