The Management Employees Pension Plan (MEPP, or the Plan) 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 12,000 active, deferred and retired members. The Plan is made up of member and employer contributions, as well as investment earnings.
Your pension is based on your length of pensionable service, the average of your highest five consecutive years of pensionable salary and a benefit rate of 2%.
You might be able to transfer service to MEPP from another pension plan through a transfer agreement. You may also be able to purchase prior years of service. Both of these options increase your MEPP pensionable service, which will increase the amount of pension you receive, and may result in you retiring sooner with an unreduced pension.
MEPP has a relationship with the Public Service Pension Plan (PSPP), called Combined Pensionable Service (CPS). If you came to MEPP from PSPP with the same employer and with no break in service, you may have CPS.
Another feature of MEPP is the Supplementary Retirement Plan for Public Service Managers (SRP). The 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.