The Management Employees Pension Plan (MEPP) was established in 1972 for management-level employees of the Alberta provincial public service, approved agencies, boards and commissions.
MEPP is a defined benefit pension plan that serves more than 14,000 active, deferred and retired members. The Plan is made up of member and employer contributions, as well as investment earnings.
MEPP members' pensions are based on their length of pensionable service, the average of their highest five consecutive years of pensionable salary and a benefit rate of 2%.
Members may be able to transfer service to MEPP from another pension plan through a transfer agreement. Members may also be able to purchase prior years of service. Both of these options increase MEPP pensionable service, which will increase the amount of pension a member receives and may result in retiring sooner with an unreduced pension.
MEPP has a relationship with the Public Service Pension Plan (PSPP), called Combined Pensionable Service (CPS). If a member came to MEPP from PSPP with the same employer and with no break in service, they may have CPS.
Another feature of MEPP is the Supplementary Retirement Plan for Public Service Managers (SRP). SRP provides additional pension benefits for MEPP members whose annual salaries exceed the salary cap. SRP is supplementary to MEPP; however, not all employers participate in SRP.