Employer enrolment

Investing in your future

Welcome to the Public Service Pension Plan!

Thinking about joining the Public Service Pension Plan (plan) is a big and exciting step – there’s a lot to consider. Your organization is probably wondering how the plan is right for you and your employees.

Benefits of enrolment

The Public Service Pension Plan is a defined benefit plan, which means a member’s pension is based on a formula of highest average salary and pensionable service, and not the amount of contributions or the fund’s investment returns. Upon retirement, members are eligible to receive a pension benefit for life. With a proven track record of good governance and a focus on prudent, sustainable management, the plan is the ideal choice for employers wanting to attract and retain great employees. Here’s how the plan can help your organization:

• Retirement income security is a strong draw for job seekers
• Employer costs are stable and predictable
• Administration is made easy
• Resources are available to you
• British Columbia Investment Management Corporation (BCI) provides investment management services to the plan

The Public Service Pension Board of Trustees (board) provides direction to BCI, the plan’s investment agent, regarding management of the plan’s assets. BC Pension Corporation (corporation) provides professional pension services to the Public Service Pension Board of Trustees (board) and a range of services to plan members and employers. These services include providing plan information to members and employers, managing contributions and member records, paying pension benefits, and providing policy, financial and communication services to the board.

The plan has a joint trusteeship governance structure. This means that representatives of both plan members and employers share management of the plan. There are more than 85 employers in the plan. For a list of plan employers, see the current annual report.

For more information, check out the plan website under About us – Who we are (for plan rules and governance) and Research and advocacy (for value of the plan) – for valuable resources.

Eligibility