There are several types of pensions for people in the province of Alberta. Most pension plans fall into one of four categories:
- Private sector employment pensions - pension plans established by private sector employers (or groups
of employers or unions) for their employees;
- Public sector employment pensions - pension plans for employees working in the public sector, (provincial and municipal public service, health and education);
Are you a member of one of the
public sector pension plans?
Are you a member of the Teachers' Pension Plan or Private School Teachers' Plan? See more information, or visit the Alberta Pensions Services Corporation (APS)
See more information, or visit the Alberta Teachers' Retirement Fund Board (ATRF) website.
- Retirement income programs administered by the federal government
for Canadians - these include the Canada
Pension Plan (CPP), Old
Age Security (OAS) and the Guaranteed
Income Supplement (GIS). The provinces are joint stewards
of the Canada Pension Plan along with the federal government and
help establish policy for the Canada Pension Plan; and
- Alberta Seniors Benefit Program – provides support in addition to the federal benefits received under Old Age Security, Guaranteed Income Supplement, Federal Allowance and the GST credit. It is based on income and provides monthly benefits to eligible seniors.
For more information on benefits and programs for seniors, see:
Note that pension plans established by companies in federally regulated industries such as banks, airlines, and telecommunications companies are governed by the federal pension standards legislation, the Pension Benefits Standards Act, (1985) (Canada). The federal government's Office of the Superintendent of Financial Institutions is the primary regulator and supervisor of federally regulated private sector pension plans. The federal government also manages the pension plans for federal public service employees.
For general information on pensions, click here for the “Time to Start a Pension” guide.
For information on accessing pension funds, click here for the “Accessing Pension Funds" guide.
December 10, 2013 - Year’s Maximum Pensionable Earnings (YMPE) for 2014
The Year’s Maximum Pensionable Earnings (YMPE) for 2014 is increasing to $52,500. As a result, the following documents and tables have been updated:
- Policy Bulletin #24 – Maximum Commuted Amounts
- Policy Bulletin #11 and #30 – Life Income Funds and DC RIAs. The withdrawal amounts in these bulletins are unchanged, and the only change to this document is the reference to the calendar year.
- Accessing Pension Funds
- Form 51 - Financial Hardship Unlocking Application Form
- Table 1B: Employment Pension Plans Act & Regulation - Prescribed Amounts
- Table 3: Interest Rates Applied to Employee Contributions of Defined Benefit Pension Plans
- Table 4: Interest Rate for the Life Income Fund (LIF) Term Certain Factors and LIF Withdrawal Factors for 2014
- The Government of Alberta is proposing changes to improve the long-term financial health of the following public sector pension plans: Local Authorities Pension Plan (LAPP), Public Service Pension Plan (PSPP), Management Employees Pension Plan (MEPP), and Special Forces Pension Plan (SFPP). Stakeholders may provide their input by December 31, 2013. Click here for updates to this section.
November 12, 2013 - EPPA Update 13-01
- EPPA Update 13-01 outlines the position of the Alberta Superintendent of Pensions regarding alternative settlement methodologies for hypothetical wind-up and solvency valuations.
November 8, 2013 - Website Update:
June 22, 2013 - Extension to the June 29, 2013 filing deadline:
- In response to the unprecedented flooding in southern Alberta, our office is providing a filing deadline extension for all Alberta registered pension plans that have the following filing(s) due by June 29, 2013. The new filing deadline will be July 31, 2013.
- Annual Information Return,
- Annual Member Statements,
- Actuarial Valuation and Cost Certificate,
- Audited Financial Statements.
May 8, 2013 - Pooled Registered Pension Plans:
- The Government of Alberta has given third reading to new legislation that allows Pooled Registered Pension Plans (PRPPs) to be available in Alberta.
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- The purpose of our electronic update is to keep subscribers up-to-date and informed about major changes to the Employment Pensions website and the documents residing on that site (including changes to legislation and policies). More information about this subscription service.