Growing the PSSP membership
The Public Service Superannuation Plan Trustee Inc. (Trustee) is pleased that the Université Sainte-Anne pension plan (USA) and University of King’s College pension plan (King’s) have transferred into the Public Service Superannuation Plan (PSSP) effective July 1, 2016.
The transfer in of the USA Plan and the King’s Plan brings an additional 225 active members and 132 retired and deferred members into the PSSP.
“The Trustee’s guiding principles for these transfers have been that a transfer into the PSSP must be beneficial to the long-term sustainability of the PSSP and cost neutral to its members. All analysis of the USA Plan transfer and the King’s Plan transfer met these conditions,” stated Ron Smith, Chair of the Trustee.
The University of King’s College Board of Governors approved the transfer to the PSSP at its June meeting. “We are pleased to have this opportunity to join this robust plan and ensure the future benefits for our employees and retirees,” stated Dale Godsoe, Chair of the Board of Governors, University of King’s College.
“Université Sainte-Anne is very pleased to have been able to transfer into the PSSP. Our employees fully support this transfer from our private pension plan into the PSSP. This ensures long-term pension cost stability to our institution and to our employees. We are very grateful for this opportunity and for the efforts in making this happen,” stated Allister Surette, President and Vice-Chancellor of Université Sainte-Anne.
Growing the PSSP membership to promote the Plan’s long-term financial sustainability remains a key strategic focus for the Trustee. The Trustee is continuing with their membership growth initiative and has begun discussions with several public sector employers about joining the PSSP.
Last year, the Trustee welcomed the transfer in of Acadia University Pension Plan to the PSSP that brought in an additional 411 new active members and 226 new pensioners.
For more information, contact:
Communications and Board Officer
Agente, Communications et des conseils
Nova Scotia Pension Services Corporation
Société des services de pension de la Nouvelle-Écosse