Public Sector Employment Pensions and Pension Policy

About Public Sector Employment Pensions and Pension Policy

Click here for a general introduction on pensions in Alberta.


Overview

Public sector pension plans are not directly subject to the Employment Pension Plans Act, (EPPA) or overseen by the Superintendent of Pensions, although they follow some of the same standards.  In Alberta, most public sector pension plans are governed by the Public Sector Pension Plans Act (PSPPA) and its regulations.  The Universities Academic Pension Plan (UAPP), covering university professors in Alberta, is an exception as it is now subject to the EPPA as of January 1, 2001.  Pension Policy is the branch which develops legislation and policy for the Alberta public sector pension plans under the PSPPA including the Local Authorities Pension Plan (LAPP), the Public Service Pension Plan (PSPP), the Special Forces Pension Plan (SFPP), the Management Employees Pension Plan (MEPP), and the Public Service Management (Closed Membership) Pension Plan.

There are four pension boards which have been delegated certain functions in relation to these plans.  For further information on the mandate of the public sector pension plan boards, click on the links below:

Pension Policy advises the Minister with regard to his roles as the trustee and administrator of the public sector pension plans.  Investment management of the plans is delegated to Alberta Investment Management Corporation (AIMCo), and administration of the plans is delegated to Alberta Pensions Services Corporation (APS).  These corporations are owned by the Government of Alberta for the purpose of investing the assets of the public sector pension plans and administering these pension plans, respectively.  Pension Policy is responsible for advising the Minister in his regulatory role of Superintendent of Pensions regarding private sector employment pension plans as well.

Pension Policy also develops policy for the Provincial Judges and Masters in Chambers Registered and Unregistered Pension Plans, the Members of the Legislative Assembly Pension Plan (closed in 1993), and the Supplementary Retirement Plan (SRP) for Public Service Managers.  

Alberta Treasury Board and Finance has responsibility for the Teachers’ and Private School Teachers’ Pension Plans.  The Teachers’ pension plans are governed by the Teachers’ Pension Plans Act (TPPA) and its regulations, and are administered by the Alberta Teachers' Retirement Fund Board (ATRF).  More information can be found on the Alberta Education website.

Pension Policy also provides advice in relation to Alberta’s role as one of the joint stewards of the Canada Pension Plan.

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More information on the public sector pension plan boards

Local Authorities Pension Plan Board of Trustees

The mandate of the LAPP Board of Trustees, as established under the Public Sector Pension Plans Act, is to:

  • undertake an actuarial valuation at least every three years and make plan provisions by regulation adjusting contributions to ensure the Local Authorities Pension Plan is funded;
  • make recommendations to the Minister amending, repealing or replacing the Local Authorities Pension Plan Regulation (“the plan rules”);
  • be consulted by the Minister with respect to:
    • the cost to be charged for the administration of the LAPP; and
    • changes proposed to the Public Sector Pension Plans (Legislative Provisions) Regulation.
  • set general policy guidelines on the investment and management of the LAPP Fund and on the administration of the LAPP; and
  • review administrative decisions for LAPP in accordance with the delegation from the Minister.

The Minister established the LAPP Corp. and delegated it the following functions:

  • providing support to the LAPP Board of Trustees in regard to all functions of the Board, and
  • high-level strategic guidance of the LAPP to the Minister.

More information on the LAPP Board of Trustees and LAPP Corp. can be found on the LAPP website:  http://www.lapp.ca/


Public Service Pension Board (PSP Board)

The mandate of the PSP Board, as established under the Public Sector Pension Plans Act, is to:

  • undertake an actuarial valuation at least every three years and make plan provisions by regulation adjusting contributions to ensure the Public Service Pension Plan is funded;
  • make recommendations to the Minister for amending, repealing or replacing the Public Service Pension Plan Regulation (“the plan rules”);
  • be consulted by the Minister with respect to:
    • the cost to be charged for the administration of the PSPP; and
    • changes proposed to the Public Sector Pension Plans (Legislative Provisions) Regulation;
  • set general policy guidelines on the investment and management of the PSPP Fund and on the administration of PSPP;
  • review administrative decisions for PSPP in accordance with the delegation from the Minister; and
  • review the responsibilities of the trustee approximately every 5 years.

More information on the PSP Board can be found on the PSPP website:  http://www.pspp.ca/


Special Forces Pension Board (SFP Board)

The mandate of the SFP Board, as established under the Public Sector Pension Plans Act, is to:

  • undertake an actuarial valuation at least every three years and make plan provisions by regulation adjusting contributions to ensure the Special Forces Pension Plan is funded;
  • determine the contributions payable to the Indexing Fund established to provide for cost-of-living adjustments (“COLA”) to be paid for service after 1991;
  • establish the COLA (if any) to be provided for service after 1991;
  • make recommendations to the Minister pertaining to:
    • subject to legislative requirements, the transfer of surplus assets from the SFPP Fund to the Indexing Fund;
    • the transfer of assets from the Indexing Fund to the SFPP Fund for payment of COLA for service after 1991; and
    • amending, repealing or replacing the Special Forces Pension Plan Regulation (“the plan rules”).
  • set general policy guidelines on the investment and management of the SFPP Fund and on the administration of SFPP;
  • review administrative decisions for the SFPP in accordance with the delegation from the Minister; and
  • be consulted by the Minister with respect to:
    • the cost to be charged for the administration of the SFPP; and
    • changes proposed to the Public Sector Pension Plans (Legislative Provisions) Regulation.

More information on the SFP Board can be found on the SFPP website:  http://www.sfpp.ca/


Management Employees Pension Board (MEP Board)

The mandate of the Board, as established under the Public Sector Pension Plans Act, is to:

  • advise the Minister on any pension matter that is of interest to persons receiving or entitled in the future to receive benefits under the Management Employees Pension Plan;
  • participate in consultations with the Minister with respect to:
    • amending, repealing or replacing the Management Employees Pension Plan Regulation (the “plan rules”); including plan rules adjusting contribution rates to ensure that the MEPP is funded;
    • conducting of actuarial valuations with respect to the MEPP and the Public Service Management (Closed Membership) Pension Plan (the “Closed Plan”);
    • changes proposed to the Public Sector Pension Plans (Legislative Provisions) Regulation; and
    • the cost to be charged for the administration of the MEPP and the Closed Plan.
  • review administrative decisions for the MEPP and the Closed Plan in accordance with the delegation from the Minister; and
  • set general policy guidelines on the investment and management of the MEPP Fund and on the administration of the MEPP that it considers should be followed by the Minister.

More information on MEP Board can be found on the MEPP website:  http://www.mepp.ca/

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Page last updated:  November 15, 2016