What is the public service pension plan

Pension plans are designed to provide employees with a retirement income during their lifetime. In the event of death, the plans also provide an income for survivors and eligible children.

There are three main federal public sector pension plans:

The public service pension plan, which is governed by the Public Service Superannuation Act, is a defined benefit pension plan in which employees of the federal public service may be entitled to participate.

A defined benefit plan is designed to provide a retirement income. In a defined benefit plan, benefits are based on a member's average salary and years of pensionable service, that is, complete or partial years credited to the member at retirement.

To ensure the long-term sustainability of the public service pension plan, several initiatives have been put in place:

The description of the public service pension plan is provided for information purposes only and does not constitute a legal document on plan members' rights and obligations. If there is a discrepancy between the information in this website and that contained in the Public Service Superannuation Act and Regulations, or other applicable laws, the legislation shall prevail at all times.

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2015-07-23