On February 24, 2014 the Government of Alberta announced pension plan changes to the Management Employees Pension Plan (MEPP). The Honourable Doug Horner, President of Treasury Board and Minister of Finance, explains the reasons for plan changes in his letter to plan members.
ALL changes will only affect benefits earned from January 1, 2016 onward.
Changes to MEPP Benefits
Beginning January 1, 2016, the Management Employees Pension Plan (MEPP) will be closed to new members. Anyone who is a member of the Plan on December 31, 2015 will remain in the closed MEPP plan.
Some MEPP benefits will change in 2016, but the most valuable aspects of your pension, and the 2% accrual rate, remain the same.
Here's what is not changing under the new rules:
The changes that take effect in 2016 will modify the plan's ancillary benefits (add-ons). These changes will not impact benefits earned before January 1, 2016. Read more...