A member’s MEPP pension will be paid to them as a regular sum, every month, for their lifetime. There are exceptions (listed below) which may impact the amount.
Cost-of-Living Adjustments (COLA)
A significant feature of the Plan is that members’ pensions are protected against inflation. Every year on January 1, after a member begins to collect their pension, they will receive a cost-of-living adjustment. This adjustment is a reflection of the rising cost of goods and services as measured by the Alberta Consumer Price Index (ACPI).
COLA is currently granted at 60% of the increase in the ACPI. In 2026, this value is equal to 1.20%.
COLA will also be applied to a deferred pension for any years between the time a member stops contributing to the Plan and when they begin their pension.
The amount of the increase will be shown on a member’s Pensioner Annual Statement, as well as in Your Pension Profile.
Coordination Increase/Reduction
If a member chose coordination when they started their pension, the coordination increase will be removed after they turn 65 and a permanent reduction will begin.
Members can review their reduction amount at age 65 on their Pensioner Annual Statement or by logging in to Your Pension Profile.
Joint Life Pension Reductions
Depending on the pension option a member selected at retirement, their pension amount might be reduced when the member or their pension partner passes away.
Members can review their reduction amount at age 65 on their Pensioner Annual Statement or by logging in to Your Pension Profile.
Marital Breakdown
Pensions are considered matrimonial property, which can be divided. It is very important to note that not every separation or divorce results in a member's pension being divided. It is suggested that members find an independent representative who can provide them with legal advice on this matter.
Retroactive Pay Adjustments
If a member receives back pay from their working years while receiving their pension, this could change their highest average salary. If this happens, their pension will be recalculated.