Public Service Management (Closed Membership) Pension Plan (Closed Plan)

In 1972, the Public Service Management Pension Plan (PSMPP) was established to provide pension benefits for management employees of the Alberta government and approved agencies, boards and commissions.

New legislation came into effect on August 1, 1992 that divided the PSMPP into two separate plans, including:

  • the Public Service Management (Closed Membership) Pension Plan (Closed Plan); and
  • the Management Employees Pension Plan (MEPP).

More Information About The Closed Plan

Members who left the PSMPP or started their pension before August 1, 1992, as well as those who had 35 years of pensionable service by that date, automatically became members of the Closed Plan.

Members of the Closed Plan who again become management employees of the Alberta government or an approved agency, board or commission, are enrolled in and receive their pension benefit for their new period of employment from MEPP. This means members will have separate accounts under the Closed Plan and MEPP, and will receive separate pension benefits from each plan based on the pensionable service in that plan.

The Closed Plan provides a pension based on a formula of 2% of the highest average salary multiplied by the pensionable service accrued under the Closed Plan.

This is what the formula looks like:

Pensions payable from the Closed Plan may be increased yearly by an amount equal to at least 60% of the increase in the Alberta Consumer Price Index. This is otherwise known as a Cost of Living Adjustment (COLA).

The MEPP Board has some legislated responsibilities for the Closed Plan. For more information on the roles and responsibilities of the Board, please see the Board Mandate and Roles document.

2018 Pension Payment Dates

As a Closed Plan pensioner, you will receive your pension on the second-last banking day of the month, except in December when your payment is made before Christmas. The following are the 2018 payment dates for pensioners:

2018 Payment Dates for Pensioners
January 30 May 30 September 27
February 27 June 28 October 30
March 29 July 30 November 29
April 27 August 30 December 21
Tax slips are issued for each calendar year and will be mailed by the end of February for the previous year.