PSPP Corporation is the administrator of the Public Service Pension Plan and the trustee of the Plan fund, and as such has a duty to act in the interest of Plan members and beneficiaries.
Our Purpose is:
“To ensure that your earned pension is there for your retirement.”
PSPP Corporation is responsible for the administration of PSPP; however, PSPP Corporation is required by legislation to contract day-to-day pension administration services to Alberta Pensions Services Corporation (APS).
APS is an Alberta public agency that operates on a non-profit cost recovery basis. The services provided by APS are outlined in a pension service agreement between APS and PSPP Corporation. The agreement also sets out benchmarks for specified services and regular reporting requirements to ensure that APS provides timely and accurate services to members.
$205
Total administrative
cost per member (in 2023)
Our goal is for members to see us as a trusted partner in their retirement journey. We continue to enhance the services we provide by leveraging our existing communication and digital channels. One of the enhancements initiated in 2022, and continued throughout 2023, is our paperless initiative.
Pension Administration Cost
All of the costs involved in the management and administration of PSPP are paid by Plan members and employers out of the Plan fund.
Pension administration costs include all expenses incurred by PSPP Corporation as well as fees charged to PSPP by APS for day-to-day administration. APS fees are calculated pursuant to a cost-recovery framework based on PSPP membership, transaction levels and other cost drivers. Administration costs in 2023 were $14,823,000. See Note 12 of the PSPP financial statements for information about administrative expenses.
PSPP’s administrative cost per member (including active members and pensioners) in 2023 was $205.