Nestled in the coulees of southern Alberta, the University of Lethbridge is one of Canada’s top universities and leading research institutions.

Overview

2021 was a good year for PSPP.

Last year, our message was one of resilience. We had to bend before the unexpected and spring back stronger than before. This year, our message is one of reliability. We are committed to building a solid foundation for PSPP Corporation’s future.

The Public Service Pension Plan is a defined benefit pension plan that offers a secure, lifetime pension to its members. As the administrator and trustee of the Plan, our Vision is for a well-managed Plan and well-served members.

Your pension is in good hands: we are committed to building a future you can count on.

2021 Highlights

Plan Demographics

Participating Employers
28

1 GOA

17 Agencies, boards and commissions

9 Post secondary

1 Other

Pensioners29,908 Deferred/Inactive20,338Active38,152

Plan Membership

2021 Numbers

Average age of active members:

45.1

Average years of service in PSPP among active members:

10.4

Average age of pensioners:

73.4

Funded status (as of the 2020 valuation conducted in 2021):

103.4%

Average annual PSPP pension (gross):

$18,561

Average age of those who retired in 2021:

63.6

Fund size as of December 31, 2021:

$18.1 Billion

2021 investment performance, net of fees: 15.8%

PSPP Funding Model

The majority of PSPP’s funding comes from investment returns. Although member contributions are important, they are not the overall picture. Benefits – in the form of retirement income – are not based on contributions.

Li Ka Shing Centre for Health Research Innovation at the University of Alberta North Campus.

Looking Ahead

At PSPP Corporation, our members and employers are at the heart of every decision we make. How can we do a better job informing you about your pension? How can we do a better job supporting our employers?

As we move into 2022, we will seek new answers to these questions. We will ask you what you think. And we will explore new ways to add value through our services.

Get a head start by emailing us with your thoughts, questions and concerns.

We believe that you deserve our best efforts, because you have entrusted us with the most valuable thing you possess: your future.

At PSPP, we are committed to building a future you can count on.

Aerial view of the University of Calgary. Photo credit: Riley Brandt