Public Service Pension Plan
The Public Service Pension Plan (PSPP) is a defined benefit pension plan that was first established in 1947 for eligible employees of the Government of Alberta and its agencies, boards, and commissions. It is a registered retirement savings plan under the Alberta Employment Pension Plans Act and the Canadian Income Tax Act. The plan is funded by investment earnings as well as equal contributions from active members and participating employers, providing its members with a lifetime pension that is not affected by market conditions or life expectancy, with the pension calculated solely on salary and years of pensionable service. As of December 31, 2020, the plan had almost 90,000 members, 28 participating employers, and was valued at over $18.1 billion (CAD). PSPP's vision is "A well-managed Plan. Well-served members." Its preferred route(s) to market include: Primary Funds.