Public Service Pension Plan

The primary objective of the Public Service Pension Plan (PSPP) is to provide retirement income to participating members. The PSPP also provides benefits in the event of death, disability or termination of employment.The pension plan is a valuable part of your overall retirement savings.

Your eventual lifetime pension benefit is based on years of service and salary, not the state of the markets. Although the financial status of the plan can impact contributions rates, it does not affect your pension benefit.

Members and employers make contributions to the pension plan and the contributions are based on a percentage of your pensionable salary under and over the annual Yearly Maximum Pensionable Earnings (YMPE). Contributions are made through payroll deduction.

The PSPP Member Handbook provides a detailed description of the plan benefits. You can print a copy from from the PSPP website at http://www.pspp.ca.

Eligibility

Mandatory participation

Employees who meet the following criteria must be enrolled in the PSPP:

• Part-time Regular employees appointed into a continuing position of 30 or more hours per week.
• Employees appointed as "auxiliary salaried" where the terms of the contract specify that the employment is to last for a period greater than one year and the regularly scheduled hours are not less than 30 hours per week.

Voluntary participation:

Effective January 1, 2018, employees have the option of participating in the PSPP if one of the following criteria are met:

• A part-time regular employee who occupies an appointment where the hours worked are a minimum of 14, but less than 30, shall have a one-time irrevocable option to join the pension plan upon appointment. If they decline to participate in the pension plan, they will not be eligible to join the plan at a later date unless they move to a mandatory membership position.
• A part-time auxiliary salaried employee where the terms of the contract specify that the employment is to last for a period greater than one year and the regularly scheduled hours are a minimum of 14, but less than 30, shall have a one-time irrevocable option to join the pension plan upon appointment. If they decline to participate in the pension plan, they will not be eligible to join the plan at a later date unless they move to a mandatory membership position.
• When an employee changes from a mandatory participation position to a part-time position, the employee can inform the employer, in writing, of their intent to withdraw from the pension plan as a result from the change in their employment. This decision shall be irrevocable until a termination of employment occurs or the employee is appointed to a mandatory membership position.
• If a participating employee moves to an "auxiliary salaried" position without a break in service, pension deductions will continue.

Pension commencement

Mandatory membership

Employees occupying mandatory membership positions will commence pension on the date of eligibility.

Voluntary membership

Employees who have a voluntary option of participating in the pension plan will have 90 days from date of eligibility to inform the employer, in writing, of their intent to join the pension plan. Pension commencement will begin 1st of the month following notification to the employer.

Receiving pension

The PSPP Member Handbook provides a detailed description of the plan benefits. You can obtain information by visiting the PSPP website at http://www.pspp.ca.

Reviewing you pension details

PSPP members and pensioners have access to Your Pension Profile (YPP), an integrated, secure online portal on www.pspp.ca. The portal allows you to:

• Access all pension information from one website
• View applicable information as you navigate www.pspp.ca
• Easily make updates to your personal and pension information, such as address or beneficiaries
• Communicate with the Member Services Centre
• Securely upload personal documents
• View available buyback proposals and start the buyback process
• Receive notifications when statements are posted to your account
• Access past annual and tax statements
• Access PensionEase, the retirement application tool

Review your information carefully. Require assistance? Call the Member Services Centre at 1-877-453-1PSP (1777).