All About Retirement (FAQs)
Upon reaching retirement, many of our members have questions about retirement perks, pensions, and benefits. Some of your most frequently asked questions are answered below.
Request A Retirement Package
AUPE retirement pins, a plaque and a letter from the President may be made available for presentation to retiring members. Retiring members or component officers can request them by completing this form.
Public Service Pension Plan
The PSPP is a defined benefit plan which means members will receive a pension based on their pensionable salary and years of pensionable service. In a defined benefit plan, the investment performance of the pension fund will not affect the calculation of your pension.
This enables you to plan for your retirement because you can estimate your future pension income. The Plan is financed by employee and employer contributions and by investment earnings.
Visit: www.pspp.ca/ to find out about:
Portability of the pension plan - effective January 1, 2008, if you are an active member of PSPP with pension entitlements in another public sector pension plan, you may be able to transfer those entitlements into PSPP through a reciprocal transfer agreement. Note there is a one year time limit for making your application starting from your date of hire.
How to estimate your pension benefits
Pension plan financial information, business plans, annual reports
Member handbook
Log into My Pension Plan
Current contributors can log on to member services to:
view their latest annual statement
use calculators to generate benefit estimates
view their personal information online
get access to pension related forms
Other Retirement Income
CANADA PENSION PLAN (CPP)
You can apply for and receive a full CPP retirement pension at age 65 or receive it as early as age 60 with a reduction, or as late as age 70 with an increase.
The amount you pay into the plan is based on your salary. Contributions on your annual earnings between a minimum and a set maximum level (this maximum level is adjusted each January, based on increases in the average wage e). Members who earn more than the maximum level of pensionable earnings (many members in Local 002) in a given year, will only contribute up to the maximum level. Any over-contributions will be refunded when you file your tax return. Read more…
OLD AGE SECURITY (OAS)
The OAS program provides you with a modest pension at age 65 if you have lived in Canada for at least 10 years. Read more…
Health Benefit Plans
ALBERTA BLUE CROSS
Resources for Alberta Public Service Employees Alberta Blue Cross has introduced an individual benefit plan that is available to employees once they have lost coverage under an employer-sponsored plan. Employees who currently have Alberta Blue Cross employer-sponsored group coverage (either through health or dental plans or a health spending account) will receive preferred pricing on the new individual benefit plan, should they choose to enroll. Read more…
ALBERTA PUBLIC SECTOR RETIREE HEALTH AND WELLNESS BENEFITS PLAN
The Alberta Public Sector Retiree Health and Wellness Benefits Plan has been developed and is sponsored by the Alberta Retired Teachers' Association (ARTA) and administered by Alberta School Employee Benefit Plan (ASEBP). Government of Alberta partnered with the Alberta Union of Provincial Employees to enable current and future retirees from the Alberta Public Service to enroll in a group benefits program. It includes Extended Health Care with an Out-of-Province/Canada Emergency Travel Option, Dental Care, Long Term Care, and Life Insurance plans for retirees, their spouses/partners, and dependent children. Read more…
SUNLIFE RETIREMENT BENEFITS PLAN
New: As of January 2020, we have new benefits being provided by Sunlife. Read more…
Questions?
Use the Local 002 Contact Us form.