Transferring Service - Public Service Pension Plan

If you were a member of another Registered Pension Plan before joining PSPP, you may be able to transfer the service you earned from that plan into PSPP.

PSPP has transfer agreements with many other public sector plans across Canada. These agreements allow members to move their pension from plan to plan as they change jobs.

If you still have a benefit remaining in your former plan, you may be eligible to transfer your credited service to PSPP.

Benefits of Transferring Service into PSPP

Transferring service from your previous pension plan into PSPP has several advantages:

You could become vested sooner, which makes you eligible for a lifetime pension.
You may increase your monthly pension by adding service.
You may be able to retire earlier with an unreduced pension.

The Value of Your Transfer

Transfer calculations are based on the actuarial value of your pension benefit. The calculation reflects the value of your pension based on credited service, salary, and other plan provisions.

Plan differences such as pensionable earnings, early retirement benefits, survivor benefits, and cost of living protection can cause the value of your pension to vary from plan to plan. These differences can result in a transfer shortfall under PSPP or a transfer excess under your former plan.

Transfer Shortfall

A transfer shortfall exists when the value of the benefit from your former plan is less than the cost of the benefit on the same amount of service in PSPP. In the event of a transfer shortfall, you will be given the opportunity to pay for all or part of the difference once the transfer of funds from your former plan into PSPP is complete. If you elect to pay for your transfer short fall, a package will be sent to you outlining your payment options.

If you choose not to pay for the transfer shortfall, the service credited from the transfer will be prorated and only the service actually paid for by the transfer from your former plan will be credited.

Transfer Excess

A transfer excess may exist if the benefit from your former plan is more than the amount transferred into PSPP.

You cannot be credited with more service than you earned even if you have a transfer excess in your former plan.

Each plan deals with excesses differently. The payment of any transfer excess will be subject to the rules applicable in your former plan. Contact the plan you are transferring from for more information on excesses.

Eligible Plans and Timelines

We have transfer agreements with other Pension Plans across the Canadian Provinces and the Federal Government Superannuation. We even have a standalone agreement with the Alberta Teachers’ Retirement Fund.

To be eligible to transfer your pension from your previous employer-sponsored pension plan, we must receive your transfer application within one year of the date you join PSPP.

Please note that if you have a Combined Pensionable Service (CPS) relationship between PSPP and MEPP, you can’t transfer your service between these plans under a transfer agreement.

Considerations Before Transferring

Before you decide to transfer service from your former plan, ensure you meet the following criteria:

You cannot be active in your former plan, and your funds must still be held in that plan.
You must be a current member of PSPP when you apply for a transfer into PSPP.
Some plans will not allow you to transfer service if you are entitled to an unreduced pension with them, so check with your former employer or plan administrator.

Transferring Prior Service into PSPP from Various Pension Plans

National Transfer Agreement

If you were a member of any of the pension plans from other provinces listed below, you can transfer your service to PSPP. Please note that your request to transfer must be received by us within one year of the date you join PSPP.
To initiate the process, you will need to complete the Appendix A: Request for Transfer Estimate — National public sector transfer into PSPP.
The National Transfer Agreement covers the following plans:

British Columbia College Pension Plan	Nova Scotia Public Service Superannuation Plan
British Columbia Municipal Pension Plan	Ontario Public Service Pension Plan
British Columbia Public Service Pension Plan	OPSEU Pension Plan
British Columbia Teachers’ Pension Plan	Prince Edward Island Public Sector Pension Plan
British Columbia WorkSafeBC Pension Plan	Régime de retraite de certains enseignants (Pension Plan of Certain Teachers, Quebec)
Local Authorities Pension Plan	Régime de retraite des employés du gouvernement et des organismes publics (Government and Public Employees Retirement Plan, Quebec)
Management Employees Pension Plan	Régime de retraite des enseignants (Teachers Pension Plan, Quebec)
Manitoba Civil Service Superannuation Fund	Régime de retraite des fonctionnaires (Civil Service Superannuation Plan, Quebec)
New Brunswick Public Service Superannuation Pension Plan	Régime de retraite du personnel d’encadrement (Pension Plan of Management Personnel, Quebec)
Newfoundland and Labrador Public Service Pension Plan

Federal Transfer Agreement

If you were a member of a federal pension plan, you can also transfer your service to PSPP.
Your request to transfer must be received by us within one year of the date you join PSPP.
To start the process, please complete the Appendix A2: Request for Transfer Estimate — Federal public sector transfer into PSPP.
For more information, you can refer to the Public Service Superannuation Act.

Alberta Teachers’ Pension Plan and Private School Teachers’ Pension Plan

If you were a member of the Alberta Teachers’ Pension Plan or the Private School Teachers’ Pension Plan, and you stopped participating in your former plan on or after Jan 1, 1995, you can transfer your service to PSPP.
To do so, please complete the Application to Transfer Pension Entitlements between PSPP and Alberta Teachers’ Pension Plans.

Other Options

If your former plan is not on the list, or if you have already removed your funds from your former plan, or if you have missed the deadline for transferring your pensionable service contributions from another Defined Benefit Pension Plan, you still have options. You may be able to purchase the service that you previously earned through a process known as Buying Prior Service.