Pension plans are designed to provide employees with a retirement income during their lifetime. In the event of death, the plans also provide an income for survivors and eligible children.
There are three main federal public sector pension plans:
This Website provides information about the public service pension plan.
The Treasury Board is responsible for the overall management of the public service pension plan as the plan sponsor. In support of the Treasury Board's role as employer for the public service, Treasury Board Secretariat (TBS) is responsible for the policy development in respect of the funding, design and governance of the public service pension plan. TBS also coordinates the stewardship duties of the Government with respect to the other major public sector pension plans (Canadian Forces-Regular Force Pension Plan and Royal Canadian Mounted Police Pension Plan) and other retirement programs and arrangements.
In addition, TBS performs the following core activities with respect to the public service pension plan:
The public service pension plan, which is governed by the Public Service Superannuation Act, is a defined benefit pension plan in which employees of the federal public service may be entitled to participate.
A defined benefit plan is designed to provide a retirement income, regardless of variations in the economic situation, investment returns and interest rates. In a defined benefit plan, benefits are based on a member's average salary and years of pensionable service, that is, complete or partial years credited to the member at retirement.
Information concerning many aspects of the public service pension plan is available below:
The description of the public service pension plan is provided for information purposes only and does not constitute a legal document on plan members' rights and obligations. If there is a discrepancy between the information in this website and that contained in the Public Service Superannuation Act and Regulations, or other applicable laws, the legislation shall prevail at all times.
For assistance or further information on the public service pension plan or group benefit plans, refer to the Your Public Service Pension and Benefits Web Portal.