Report on the Public Service Pension Plan

The Public Service Pension Plan (Plan) was established in January 1954 under the Public Service Superannuation Act (PSSA).The Plan covers substantially all of the full-time and part-time employees of the Government of Canada, certain Crown corporations, and territorial governments. In the event of a member's death, the Plan provides income for survivors and eligible children.

The Plan is generally referred to as a contributory defined benefit pension plan. A contributory plan is one in which both the employer and employee make contributions. A defined benefit plan is one in which the benefits payable on death, disability, termination of service, and retirement are specified in the plan document, in this case, the PSSA and its regulations. The benefits are directly related to the employee's salary and period of pensionable service.

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