Transfers Out of PSPP

PSPP has transfer agreements with a number of public sector pension plans in Canada. When you leave your PSPP employer, you might be able to transfer your funds directly to your new employer's pension plan.

Your new plan will calculate the cost of buying your PSPP service based on their own pension benefit formula.

Timelines vary between agreements, but can be as short as one year from when you join your new employer's pension plan. If you are considering transferring out of PSPP, contact us and your new employer as soon as possible in order to avoid missing important deadlines.

You are not able to transfer your service out of PSPP if you qualify for an unreduced pension. In other words, if you:

  • are age 65 or older; or
  • have enough points to meet the 85 factor.

If you have combined pensionable service (CPS) between PSPP and MEPP or UAPP, you cannot transfer your pension if you are still contributing to the related plan.

Eligible Pension Plans in Alberta

Local Authorities Pension Plan (LAPP) and Management Employees Pension Plan (MEPP)

  • After you join LAPP or MEPP, we will let you know if you can transfer any service from PSPP into LAPP or MEPP.
  • If you have a CPS relationship between PSPP and MEPP, you can't transfer your service between these plans under a transfer agreement.
  • If you have any questions or did not receive your transfer information after joining LAPP or MEPP, contact us.

Eligible Pension Plan Under the Federal Transfer Agreement

The Federal Transfer Agreement covers:

You will need Appendix A2: Request for Transfer Estimate.

For more information on transfers under this transfer agreement, please contact your current pension plan administrator.

Time-Sensitive Considerations

Transfer Agreements

Timelines vary between transfer agreements, but can be as short as one year from when you join your new employer's pension plan. If you are considering transferring out of PSPP, contact us and your new employer as soon as possible in order to avoid missing important deadlines.

Leaves of Absence

You have 30 days from the date you leave the Plan to apply to purchase a leave of absence. If you are already paying for a leave of absence, you have 90 days from the date you leave the Plan to complete that purchase.

Prior Service Purchases

If you intend to buy prior service, you must submit your application before you leave the Plan. If you are already making prior service payments, you will have 90 days to complete your buyback purchase.

In either scenario, if you do not complete your purchase it will be prorated—only the amount of service you have paid for will be credited.

Combined Pensionable Service (CPS) can impact buybacks in these situations as well.