March 24, 2020
With COVID-19 continuing to impact the lives of everyone, it’s understandable that you may be concerned about how it affects your pension. Rest assured that PSPP Corporation continues to closely monitor the situation and has been working with its pension administration service provider, Alberta Pensions Services Corporation (APS), to ensure essential operations continue and its investment manager, Alberta Investment Management Corporation (AIMCo), to review the market impact and investment strategy.
PSPP is a Defined Benefit Pension Plan which means that your benefit is calculated based on a formula that includes your pensionable salary and years of service. Your pension is not affected by how much you contribute to the plan or by stock market fluctuations and economic downturns. That’s the benefit of a Defined Benefit Pension Plan! Whether you’re currently contributing to the plan, or retired and receiving a pension, your PSPP pension is secure.
Learn more about the Value of Your Pension, How Your Pension is Calculated and the circumstances under which your pension amount may change.