If you earn five or more years of pensionable or Combined Pensionable Service (CPS) in MEPP, you are vested and entitled to a lifetime pension at retirement.
Five or More Years of Service and Over 55 Years of Age
Start Your Pension
Vested MEPP members are eligible to receive an unreduced pension on or after their 60th birthday. Retirement with a reduced or unreduced pension is possible as early as the age of 55, provided certain age and pensionable service requirements are met.
Start Your Pension at a Later Date
Once you are vested, you can start your pension any time after reaching 55 years of age. Your pension must commence by December 31 of the year in which you turn 71 years of age.
If you leave your funds in the Plan and then re-join before starting your pension, new pensionable service will be added to your existing service, increasing the amount of pension you receive.
Transfer Your Pension Benefit to Another Pension Plan
MEPP has transfer agreements with several other provincial and federal public sector pension plans. If you join an employer who participates in one of those plans, you might be able to transfer your MEPP service to the new plan.
Please note that if you are entitled to an unreduced pension, you are not able to transfer your benefit out of MEPP.