Public Service Management (Closed Membership) Pension Plan
The Public Service Management Pension Plan was established in 1972 to provide pension benefits for management employees of the Alberta government and approved agencies, boards and commissions.
Effective retroactive to August 1, 1992, new legislation came into effect that divided the Public Service Management Pension Plan into two separate plans:
- the Public Service Management (Closed Membership) Pension Plan (referred to as the Plan, PSM(CM)PP, or Closed Plan); and
- the Management Employees Pension Plan (MEPP).
Members who had terminated from the Public Service Management Pension Plan or commenced to receive a pension before August 1, 1992, as well as those who had 35 years of pensionable service by that date, automatically became members of the Closed Plan.
Members who remained active on August 1, 1992, became members of MEPP. Members of the Closed Plan who again become management employees of the Alberta government or an approved agency, board, or commission, are enrolled in and receive their pension benefit for their new period of employment from MEPP. This means these members will have separate accounts under PSM(CM)PP and MEPP and will receive separate pension benefits from each plan based on the pensionable service in that plan.
PSM(CM)PP is administered by Alberta Pensions Services Corporation (APS).
More information about this plan can be found on the PSM(CM)PP website.