The Pension Plan currently in effect for Members of the House of Assembly was introduced in 1976, replacing for all intents and purposes the 1962 Plan. The plan is constituted under The Members of the House of Assembly Retiring Allowances Act and is one of three 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 MHAPP is the responsibility of the Pensions and Debt Management Division, in cooperation with the House of Assembly. Currently there are 39 plan members in the Plan. There are 49 pensioners.