Pensions Overview
Pensions in Alberta
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There are several types of pensions for the people in this province. The Superintendent of Pensions plays a role in the following ways:
- regulating pension plans set up by private sector employers for their employees, under the Employment Pension Plans Act (EPPA);
- developing policy regarding the regulation of private sector pension plans;
- developing policy on pension plans for most public sector employees in Alberta (except federal government employees and Alberta teachers);
(Note: Alberta Pensions Services is responsible for the administration of these plans.)
- participating with the federal government and other provinces in setting policy for the Canada Pension Plan.
(Note: the federal government is responsible for the administration of the CPP.)
Click here for information on Pension Policy, the unit of Alberta Finance that deals with public sector pension plans and the CPP.
About the Superintendent of Pensions
The Superintendent of Pensions administers the Employment Pension Plans Act (EPPA), which governs pension plans established and maintained by employers (or groups of employers or unions). Most of the plans registered under the legislation are private sector plans.
The EPPA helps safeguard pensions for employees by setting minimum standards for:
- qualifying for benefits
- determining benefits
- funding pensions
- investing plan assets
- disclosure to members.
The office of the Superintendent of Pensions also recommends changes to the Employment Pension Plans Act. The Act was updated as of August 10, 2006. Check out the EPPA Updates for the latest news on the Act.
The office of the Superintendent of Pensions is responsible for making sure that employers or unions who sponsor plans understand and follow the Act. The unit registers new plans, and monitors all existing plans. Staff can assist plan members by explaining how the EPPA affects them and their plan.
Our staff also investigate complaints, including those involving overdue refunds and payments. Use our office directory if you wish to contact the staff.
If you need information about your own benefits in your pension plan, and your employer or your union runs your plan, contact your employer or union directly. Alberta Finance and Enterprise does not have any information related to your individual pension benefits.
The EPPA also sets rules for locked-in retirement products. These are RRSPs and RRIFs with special rules, to which money from a pension plan must be transferred if the owner is withdrawing all his funds from the pension plan. The locked-in products covered by the Act are:
- LIRAs (Locked-In Retirement Accounts)
- LIFs (Life Income Funds)
What’s Not Covered by the EPPA?
Alberta public sector employees' pension plans (provincial, municipal, health, education) or federal employees’ pension plans, and private sector plans regulated by the federal government, are not covered under the EPPA. The exceptions are the Universities Academic Pension Plan, covering university professors, and certain supplementary plans for public sector employees, which are regulated under the EPPA.
If you are looking for information on other Alberta public sector employee pensions, click here to go to the Alberta Pensions Services website or view the Public Sector Pension Plans Act.
If you’re interested in the Alberta Teachers' Pension Plans, click here for the Alberta Teachers' Retirement Fund Board website or view the Teachers' Pension Plans Act.
About Public Sector Pension Policy
The Public Sector Pension Policy division develops legislation and policy for several Alberta public sector pension plans including the Local Authorities Pension Plan, Public Service Pension Plan, Special Forces Pension Plan and the Management Employees Pension Plan. The division also provides advice in relation to Alberta's role as one of the joint stewards of the Canada Pension Plan.
