Highlights of the PSPP
Welcome to the Public Service Pension Plan (PSPP)
The PSPP is an important part of your overall financial and retirement plan. To help you get to know your new plan and understand how it impacts your financial future, we’ve pulled together some key facts and highlights.
What is the PSPP?
The PSPP is a contributory defined benefit (DB) plan. That means your pension is based on a set formula: when you retire you’ll get a pension that’s payable for your lifetime, so you don’t need to worry about outliving your money. It also means that you’ll have a pretty good idea of how much pension you’ll receive, which makes planning for retirement a whole lot easier.
Plus, your PSPP pension has a number of valuable features such as:
- Unreduced early retirement pension options
- Inflation protection
- Survivor benefits
- Disability benefits
Add it all up and your PSPP pension is a valuable benefit.
Here the top things you need to know.