"","Alberta (Provincial)","British Columbia (Provincial)","Manitoba (Provincial)","New Brunswick (Provincial)","Newfoundland and Labrador (Substitute Teachers)","Newfoundland and Labrador (Teachers)","Northwest Territories (Public Service)","Nova Scotia (Provincial)","Nunavut (Public Service)","Ontario (Provincial)","Prince Edward Island (Provincial)","Quebec (RREGOP)","Saskatchewan (old)","Saskatchewan (provincial)","Yukon Territories (Public Service)" "Benefit Formula (x Service)","1.4% up to YMPE + 2.0% in excess of YMPE x 5 highest consecutive years average","1.90 accrual yearly","2% x best 5 years average (Service before July 1980 counted on best 7) minus CPP offset (0.6%) up to YMPE for service after 1965.","Pre July 1, 2014 service - 2% x highest 5 consecutive years salary average; Post June 30, 2014 service - 2% times yearly average salary","Defined Contribution Pension Plan","Prior to September 1, 2015: 2% x best 5 years average (2.2% for years before Jan. 1/91) Effective September 1, 2015: 2% x Best Average Earnings over 8 years (BAE8) (2.25 for years before January 1, 1991)","x years of pensionable service","2% x highest 5 years average","2% x 5 highest consecutive years average","2% x best 5 years average salary","2% career average including bridge integrated with CPP, with conditional indexing","2% x highest 5 years average","2% x best 5 years average (annualized)","Lifetime pension: For service to June 30, 2015: {(1.3% x 5 years highest average earnings up to the Average YMPE at June 30, 2015 ) + (2.0% x 5 years highest average earnings above the Average YMPE at 2015)} x service to June 30, 2015. For each year after June 30, 2015: (1.3% x earnings up to the YMPE) + (2.0% x earnings above the YMPE) x service Bridge Benefit (payable from retirement date to age 65): For service up to June 30, 2015: (0.7% x highest average earnings at June 30, 2015 up to average YMPE at 2015) x service to June 30, 2015.","2% x 5 highest consecutive years average" "Minimum Service","5 years","Immediate vesting of benefits","No minimum service required. If less than 10 years service then actuarial equivalent pension available at age 55. Unreduced pension at age 55 with 10 or more years of service.","2 years or 2 years of plan membership","2 years (post 1996); 5 years (pre 1997) ","5 years","2 years","2 years","2 years","Immediate vesting","2 years","2 years","1 year","1 year","2 years" "Maximum Service Credited","unlimited after 1991","Removed","Unlimited (Maximum pension is 70% of salary)","35 years","Unlimited","Unlimited","35 years","35 years","35 years","Unlimited after 1991","Unlimited","40 years","35 years","Unlimited ","35 years" "Earliest Age (with minimum service) to retire without reduction","65","61 or 35 years of Contributory Service","65","65","55","Must work until 60. If resigned before 60, pension deferred to 62./","60 - Pre January 1, 2012. 62 - Post January 1, 2012","65","60","Age 65","62","60 and 30 years of eligibility","65","65","60" "Age and service combination to retire without reduction","Combined 85 and age 55","Removed","55 with 10 (where age + service = 80)","If in the plan prior to reform, pre-July 1, 2014 service - ASI index 87; post June 30, 2014 service, ASI index 91 If not in the plan prior to reform - ASI index 91","55 with 2","55 with 25 or 30 worked years (no age requirement)","55 with 30","Age 55 and combined 85 or 35 years service (no age requirement) or 60 with 10","55 with 30","85 Factor (age plus qualifying service) ","55 with 32 years of service","35 years of service ","Combined 85 or 60 with 20 or 30 years eligible service (no age requirement) Part-time service counted as full-time for eligibility","30 years of eligibility service; no minimum age Age + eligibility service = 85 rule, minimum age 55 20 years eligibility service; minimum age 60 1 year eligibility service; minimum age 65 Age + eligibility service + Pre-1994 ICP service + Qualifying service = 85 rule; minimum age 60","55 with 30" "Earliest Possible Retirement (Reduced Benefit)","Age 55, with 2% per point short of 85 index or per year short of age 65, whichever is less","Age 55, with 4.5% reduction per year less than age 61, deferred 4.5%","55 with 10 Bridging benefit provided equal in value to reduction","Age 55 with 2 years (5% penalty per year); If in the plan prior to reform, pre-July 1, 2014 - ASI 80; If not in the plan prior to reform, post-June 30, 2014 - ASI 84","None","29 worked years + 1 study year (no age requirement). Reduction is temporary. Unreduced pension from age 55. Maximum reduction 15%.","50 with minimum 2 penalty variable essentially 5%/year less than 30 or 60","50 with 30 - 5% penalty per year that age/service is less than 55 or service less than 35, whichever is the lesser. 55 with 20 which uses a chart for reductions ranging from 20.4% to 4.8%.","50 with minimum 2 penalty variable essentially 5%/year less than 30 or 60","Age 50 (with 2.5% penalty short of 85 Factor or 5% penalty short of age 65, whichever is less)","The Superannuation Act has been amended to provide a reduced pension for teachers between the age of 55 and 62 who do not have 32 years of service (starting in 2019). The reduction is ¼ % per month for every month that the teacher is short of 32 years of service or 62 years of age whichever is the lesser.","Age 55, 2 years of service 6% penalty per year (as from July 1 2020) (4% until june 30)","55 with 20 eligibility service (Reduction of .25% for each month prior to earlier of age 60 or age and eligibility service equals 85)","55 with 1 year of service ","50 with minimum 2 penalty variable essentially 5%/year less than 30 or 60" "Disability Benefits Payable","None","Payable for all accrued service, but only available to plan members not covered by an approved LTD","Not generally available after July 1 1980","After 2 years","None","Yes, based on own-occupation disability as a teacher","Triggered upon application","Disability pension closed to new applicants after July 31, 2014.","Triggered upon application","After 10 years (qualifying service) - partial disability pension (reduced) or full disability pension (unreduced) depending upon disability","After 2 years Total disability","None","After 10 eligibility years Disabled as teacher (plus ICP adjusted)","None","Triggered upon application" "Survivor's Allowance","Joint life and last survivor options","Joint life and last survivor options","Once pension in pay, compulsory joint life reduced one-third on death of either spouse. Couple may mutually request other arrangement","50% to spouse or dependent children; however decision can be made at retirement to choose 60%, 66.67%, 75% or 100% options with actuarial reduction in pension","60% for spouse","60% to spouse or dependent children or designated dependant beneficiary","50% to spouse and up to 40% for dependant children","60% to spouse and up to 40% for dependent children (+10%/child). Effective May 1 2003, option up to 100% for spouse with actuarial reduction in pension.","50% to spouse and up to 40% for dependant children","60% (or higher) - reductions apply > member and spouse may elect 50% survivor without reduction > member may also elect 10 year guarantee","60% to spouse and up to 40% for dependent children. 10% per child to a maximum of four children.","50% of integrated QPP to spouse or optional 60% with 2% permanently reduction in pension","60% to spouse at the time of death + up to 25% to dependent children or 60% to dependent parents","Benefits earned to June 30, 2015: 60% to spouse at date of retirement plus up to 25% to dependent children or 60% to dependent parents Benefits earned after June 30, 2015: Member's pension reduced on an actuarial equivalent basis to provide for statutory 60% spousal survivor pension. ","50% to spouse and up to 40% for dependant children" "Reemployment as a Teacher Without Penalty","Up to 60%/year cannot contribute once retired/unlimited subbing not under contract","Not considered a retiree until in receipt of at least one pension cheque. No restrictions to employment in BC public schools but cannot contribute if collecting pension. ","120 days under contract","Up to 80 days per year of supply teaching","Not applicable","65 days/year and/or up to 19 consecutive days. A maximum one year term contract with ministerial approval provided no other non-retired qualified teacher available. Cannot replace teacher on unpaid leave.","more than 100 days","69.5 days/year. Up to June 30, 2020, 69.5 days/year in a term contract and 99.5 days/year as a substitute. To be reviewed in Spring 2020 for possible extension.","Pension suspended if reemployed in a contributory position","50 day limit each school year","No restrictions on supply teaching Allowance suspended if on contract. Contract begins when there is knowledge that the substitute will be in the same position for more than 20 days.","teacher receive the full amont of pension and will no longer contribute","No limit but cannot contribute","No limit but cannot contribute once receiving a pension from the Plan.","Pension suspended if reemployed in a contributory position" "Notes (Benefits)","","","","","","","","","","","","","This plan was closed to new members after June 1980.","","" "Current Benefits Indexed","All","All benefits earned after age 55","All","Yes","","All (for members whose benefits are integrated with CPP, and have reached age 65 by Sept.)","All","All","All","All","Conditional. ","All","All","Post-Retirement: Benefits earned to June 30, 2015 guaranteed indexing Benefits earned after June 30, 2015, conditional indexing Pre-Retirement Conditional indexing may be granted to lifetime pensions before retirement.","All" "Deferred Benefits Indexed","Yes","Yes","Yes","Yes","","Yes (Same as for current benefits)","Yes","No","Yes","Yes","Yes conditional","Yes","No","No","Yes" "Rate of Indexing","Service before Jan. 1/93 - 60% of Alta. CPI; Service after Dec. 31/92 - 70% of Alta CPI","Up to CPI (calculated from September to September each year) provided funding is available in the Inflation Adjustment Account (IAA)","Based on CPI but limited to an amount that can be paid from a separate notional account, (Pension Adjustment Account). Any amount paid is limited to 2/3rd of CPI and is based on the total plan returns.","Active benefits - 100% CPI to max 4.75%; retirees benefits - 75% CPI to max 4.75%","","60% of CPI to maximum 1.2% ","CPI","CPI less 1% before Aug. 1/06. After July 31/06, tied to Plan's funded status; below 90%= 0 indexing; 90%-99%= 50% of CPI; 100%+ =full CPI","CPI","For service prior to 2010, 100% of change in CPI (max. 8%, with carry forward of excess). Service after 2009 is subject to conditional inflation protection (CIP), based on plan funding, as follows: > for service after 2009: 50% to 100% of change in CPI > for service after 2013: 0% to 100% of change in CPI ","100% of CPI retirees all conditional; for active teachers it is Average Industrial Wage (AIW) which is conditional.","Current Benefits CPI before July 1/82 CPI less 3% July/82 to Jan. 1/00. Better of CPI-3% or 50% of CPI as of Jan. 1/00 Deferred Benefits Full CPI during period of deferment","80% of CPI","Post-retirement: Benefits earned to June 30, 2015 - Guaranteed Lesser of 3% and 80% of change in CPI. Benefits earned after June 30, 2015 - Conditional indexing of 0% to 100% of CPI to max of 5%. Pre-Retirement: Conditional indexing of 0% to 100% of CPI to max of 5%. ","CPI" "Indexing Funding Provision","No separate fund","Separate fund made up of employee and employer contributions and excess interest earnings","Half of the indexing cost funded from the PAA (17% of gross teacher contributions in that year) Province has a statutory obligation to pay the other half of benefits on a monthly basis","No separate fund","","","No separate fund Accounts amalgamated in 1992","No separate fund","No separate fund Accounts amalgamated in 1992","Funding integrated with main plan","No separate fund","No separate fund","No separate fund","Assumption included in valuation balance sheet for future indexing.","No separate fund Accounts amalgamated in 1992" "Notes (Indexing)","","","Survivor receives 2/3 of adjustment which member would have received","","","Effective September 1, 2015, indexing provision is suspended.","","","","","All conditional indexing","","","","" "Refund (Non Vested Member or Before Lock-In)","Contributions + interest at average of 5-year personal fixed term chartered bank deposits.","","If pension benefit 4% of YMPE or commuted value less than 20% of YMPE","Termination value (member contributions plus interest based upon plan funding)","Contributions + interest earned","Contributions + standard bank rate","Contributions + 4% to 1996. Then at fund rate of interest","Contribution & interest to 1984. Then as set by Plan's Administrator","Contributions + 4% to 1996. Then at fund rate of interest","Immediate vesting","Contributions + 4% interest","Contributions + interest","Contributions + interest","Contributions + interest","Contributions + 4% to 1996. Then at fund rate of interest" "Qualifying Service for Vesting","5 years","","Immediate","2 years service or 2 years plan membership","2 years","5 years","2 years","2 years","2 years","Immediate vesting","2 years","2 years","No vesting","1 year","2 years" "Qualifying Service for Locked-In","5 years","","Immediate","2 years service or 2 years plan membership","2 years","Age 45 and 10 years (pre 1997) and 5 years with no age restrictions (post 1996)","2 years","2 years","2 years","Immediate vesting","","2 years","10 consecutive years after Jan.1/69","Age + service = 45 to Dec. 31, 1993, 2 years after December 31, 1993.","2 years" "Vested Member Basic Entitlement","Deferred indexed pension","Deferred indexed pension","Deferred indexed pension","Deferred indexed pension","","Deferred pension (indexed as for pensioners)","Deferred indexed pension","Deferred pension (not indexed)","Deferred indexed pension","Deferred pension","Deferred indexed pension","Deferred indexed pension OR transfer into locked-in retirement account of higher of contributions plus interest or actuarial value of indexed deferred pension.","Deferred pension (not indexed)","Deferred pension (not indexed)","Deferred indexed pension" "Vested Member Right to Transfer Commuted Value","Yes, post Sept. 1/92 to LIRA","Yes, to locked-in RRSP/LIRA","No","No","","Yes, upon contract termination, to locked in RRSP. 2 times contributions on post-1986 service; teacher contributions only on pre-1987 service.","Yes, for members < age 50 with 2 years service upon contract termination","Yes","Yes, for members < age 50 with 2 years service upon contract termination","Upon termination prior to age 50 ","No","Yes","If more than 1 year of service, greater of contributions + interest or commuted value until eligible to receive allowance","Yes to LIRA, prior to eligibility to receive a monthly pension benefit.","Yes, for members < age 50 with 2 years service upon contract termination" "Vested member 50% Test on Contributions","No","","Yes, on post 1984 contributions","","","N/A","No","No","No","Yes","No","No","No","Yes","No" "Reinstatement if Refund Taken","","None","Refund + interest earned by fund + actuarial deficiency created by return","Can be purchased once teacher returns as contributor to the plan; cost will be based upon annual salary at time of application","Not Allowed","Yes, at half actuarial cost","Option to elect for refunded service. Payments based on current salary rates","Refund + rate of interest set by Plan's Administrator","Option to elect for refunded service. Payments based on current salary rates","50% rule refund (with interest) must be repaid if member elects a deferred pension and subsequently becomes re-employed or purchases credited service","Actuarial cost","A member who asks to have contributions reimbursed may have service reinstated if money + interest are returned to CARRA","Refund + interest (2% above rates credited to superannuation fund)","Refund + interest earned by fund","Option to elect for refunded service. Payments based on current salary rates" "Reinstatement if Transfer Value Taken","Actuarial deficiency created by return","Not allowed","N/A","N/A","","N/A","Option to elect. Cost based on amount transferred plus interest","Amount transferred plus interest","Option to elect. Cost based on amount transferred plus interest","Greater of i) transfer amount + refund (with interest), and ii) actuarial cost of expected pension improvement","N/A","Not allowed","Not allowed","Not allowed","Option to elect. Cost based on amount transferred plus interest" "Notes (Termination)","","","","","","","","","","","","","","","" "Qualifying Service-Military Service","No","No","Yes","Yes, WWI, II, Korean War; and service after Dec 20, 2001 in the Canadian Forces Reserves in Afghanistan or other combat operation recognized by regulation","","No","Yes","Yes, for pre-1999 service only","Yes","","Yes, with restrictions","Yes (very restricted)","World War I and World War II service only ","Not purchasable","Yes" "Qualifying Service-Private School Service","Yes","No","No","No","","No","May elect to buy back","No","May elect to buy back","Yes, if school is a designated private school (DPS) ","No","Yes","7 years","Purchasable - maximum 7 years","May elect to buy back" "Qualifying Service-Leave of Absence","Yes","Yes","No","Yes, up to max 2 years","","Yes","Yes, up to 5 years. Must purchase first 3 months at time of return.","Yes","Yes, up to 5 years. Must purchase first 3 months at time of return.","Purchase rules apply","Yes","Yes","50% paid","Sabbatical leave that is 50% paid is purchasable.","Yes, up to 5 years. Must purchase first 3 months at time of return." "Qualifying Service-Unpaid Study Leave","Yes","Yes","Yes","Yes, up to max 1 year","","Yes","Yes","Yes","Yes","Purchase rules apply","Yes","Yes","1 year if purchased","1 year Education Leave if purchased ","Yes" "Qualifying Service-Unpaid Sick Leave","Yes","Yes","No","Yes (up to max 2 years as leave of absence)","","Yes","Yes","Yes","Yes","Purchase rules apply","Yes","Yes (if on leave of absence)","No","Not purchasable","Yes" "Qualifying Service-Time on LTD","Yes","Yes","Yes","Yes (up to max 2 years under leave of absence)","","Yes, if on leave w/o pay, and if purchased","Yes, if still employed","Yes","Yes, if still employed","Yes","No","Yes (if on leave of absence)","Yes","Time while in receipt of ICP after June 30, 1993 counted as pension service","Yes, if still employed" "Qualifying Service-Maternity/Paternity Leave","Yes","Yes, 17 weeks maternity/35 weeks parental","Time while in receipt of SUB plan benefits and up to CRA max.","Yes, maximum of 1 year per birth to max 3 total years","","Yes","Yes","Yes","Yes","Purchase rules apply ","Yes","Yes","Time while in receipt of SUB plan benefits up to CCRA max. after Feb. 98","Time while in receipt of SEB plan benefits up to CRA max treated as pension service.","Yes" "Qualifying Service-Public Office","No","Yes","No","Yes, MLA only","","Yes","Yes, if on leave","Yes, if on leave on absence","Yes, if on leave","Purchase rules apply","No","Yes","Qualifying service"," Up to June 30, 2015 - treated as Qualifying service. No further qualifying service granted in Plan after June 30, 2015.","Yes, if on leave" "Qualifying Service-Part-time Service (Full-time eligibility)","No","Yes","Yes","Limited to 5 years before retirement","","No","Yes, except for service prior to 1981","Yes","Yes, except for service prior to 1981","More than 10 days of credited service = 1 year of qualifying service","No","Yes","Yes","Yes","Yes, except for service prior to 1981" "Qualifying Service-Child Rearing","Yes","5 years, eligibility service only","No","No","","Yes, if on approved leave w/o pay","Yes, if still employed","Up to 175 days per child","Yes, if still employed","Purchase rules apply","Can be purchased if on approved leave without pay","No","Up to CCRA max.","Purchasable - Board approved leave for parenting purposes up to CRA max.","Yes, if still employed" "Notes (Qualifying Service)","Any leave of absence purchased at full actuarial value. For those private schools that are members of the Private School Pension Plan, also operated by the ATRF Board. Automatic accrual of service for periods of disability leave after 1992 at no cost to the teacher. Salary base is escalated to retirement.","For all approved leaves: teacher must elect to purchase within 5 years of returning from the leave or prior to resignation, whichever is earlier.","Military service varies from one to two times contribution rate. Study leave is twice contribution rate. Adoption leave treated in same manner as maternity leave.","Any service in a calendar year (including LOA without pay) = 1 yr of eligibility (subject to limitations).","","All approved leaves w/o pay may be purchased at current contribution rates based on the salary the teacher was earning immediately prior to the commencement of the leave. Teacher must elect to purchase within 180 days of returning from the leave. All cont","Medical leave is purchased at single contribution rate as is first 3 months of maternity and parental leave.","Study leave, sick leave, LTD, maternity leave; 50% of actuarial cost. Child rearing and private school service; 100% of actuarial cost. Military service; member contribution at service date. All service must be purchased to be included.","Medical leave is purchased at single contribution rate as is first 3 months of maternity and parental leave.","","","A teacher can benefit from 3 years of recognized service and waiver of premiums. These 3 years are then given full recognition for service and eligibility. If the school board maintains the employment status of the LTD teacher, he or she can be on a leave until 55 years of age.","","","Medical leave is purchased at single contribution rate as is first 3 months of maternity and parental leave." "Teacher Contribution Rate","10.74% below, 15.34% above YMPE (Sept 1, 2017)","11.17% of salary","8.8% to YMPE, 10.4% above YMPE","10% to YMPE, 11.7% above","5%","9.35% Effective September 1, 2015: 11.35%","4.6% to YMPE, 8.1% above","11.3% to YMPE, 12.9% above","4.6% to YMPE, 8.1% above","10.4% up to YMPE, 12% above YMPE (at Jan. 1, 2018)","8.3% to YMPE, 10% above","2020:10,63% above 25% of YMPE ($14 675=$58 700*25%) 2021: 10,33% above 25% of YMPE 2022: 10,04% above 25% of YMPE","7.85% to YBE, 6.05% to YMPE, 7.85% above","Effective July 1,2018: Earnings Up to YMPE: 9.5% Earnings Above YMPE: 11.70%","5.5% to YMPE, 8.4% above" "Government Contribution Rate","11.95% (2017-18)of total salary plus full responsibility for pre 1992 service funded on pay-as-you-go method","11.30 of salary","Variable (50% of pensions +)","11.5% to YMPE, 13.2% above; in 2019, these Employer rates will decrease to 10.75% to YMPE, 12.45% above","Matching","Matching","Matching (Federal Government)","Matching","Matching (Federal Government)","Matching","Matching + additional amount towards unfunded liability","Only employees contribute","Matches teacher contribution rate","Effective July 1, 2016: Earnings Up to YMPE: 7.25% Earnings Above YMPE: 9.25% ","Matching (Federal Government)" "Basic Funds Maintained","Yes","Yes","Yes","Yes","Yes","Yes","Yes","Yes","Yes","Yes","Yes","Yes","Yes","Yes","Yes" "Supplementary Funds Maintained","No","Yes","Yes","No","No","No","No","No","No","Retirement Compensation Arrangement (RCA) (separate trust) provides certain benefits that exceed ITA limits.","No","No","No","No","No" "Government Guarantees","Benefits earned prior to Sept. 1/92 guaranteed by government","Trustees have authority to determine how surpluses are allocated within the parameters set by the Joint Trust Agreement.","Statutory obligation to pay 50% of pension and COLA","No Government guarantee.","Not applicable (money purchase)","Effective Spetember 1, 2015, pension plan is a Jointly Sponsored Plan.","Implied guarantee for service to 2001 (gov't makes up deficits)","No, but government payments made if plan falls below 90% funded.","Implied guarantee for service to 2001 (gov't makes up deficits)","","Guaranteed to bring plan back to 100% if projected to remain under 100% for 5 years. Pension amount will never decrease.","Limited to 50% of cost","All benefits guaranteed by government","Not applicable","Implied guarantee for service to 2001 (gov't makes up deficits)" "Offset Factor","0.60%","0.70%","0.60%","0.70%","","0.60%","0.70%","0.70%","0.70%","0.45%","0.70%","0.70%","0.70%","None. Benefit formula is lifetime pension. Plus temporary bridge benefit, for service up to June 30, 2015, if member retires before age 65.","0.70%" "Age Applied","Retirement","65","Retirement","65","","65","65","65","65","Age 65","65","65","65","Bridge benefit ceases at member's age 65.","65" "Notes (Finance)","Teacher Pension benefit reduced by offset at retirement. CPP benefit is in addition to teacher's pension, when eligible.","Offset applied at age 65 irrespective of whether teacher opts for early CPP benefits.","Government matches all teacher contributions after April 2007. However also draws on those funds to pay their 50% of pensions, resulting in a projected decrease to Government account over time","Offset applied at age 65 irrespective of whether teacher opts for early CPP benefits.","","Offset applied at age 65 irrespective of whether teacher opts for early CPP benefits.","Territorial governments pay the difference up to 2.14 X employee contributions. Offset applied at age 65 or earlier if/when member becomes entitled to CPP/QPP disability benefits irrespective of whether teacher opts for early CPP benefits (offset not appl","Offset applied at age 65 irrespective of whether teacher opts for early CPP benefits.","Territorial governments pay the difference up to 2.14 X employee contributions. Offset applied at age 65 or earlier if/when member becomes entitled to CPP/QPP disability benefits irrespective of whether teacher opts for early CPP benefits (offset not appl","CPP offset applied at age 65 or when member begins receiving a CPP disability benefit, whichever is earlier . . . early election of CPP has no impact on commencement of offset","Offset applied at age 65 irrespective of whether teacher opts for early CPP benefits.","Offset applied at age 65 irrespective of whether teacher opts for early QPP benefits. If a teacher stops working prior to age 55 and opts for a deferred pension, actuarially reduced prior to age 65, there is immediate integration with QPP.","Offset applied at age 65 irrespective of early election of CPP. Under old plan, a teacher in receipt of a disability benefit and CPP disability benefits will have offset applied at commencement of CPP disability benefits","Bridge benefit ceases at member's age 65 regardless of early or late election of CPP benefits.","Territorial governments pay the difference up to 2.14 X employee contributions. Offset applied at age 65 or earlier if/when member becomes entitled to CPP/QPP disability benefits irrespective of whether teacher opts for early CPP benefits (offset not appl" "Fiscal Year Ending","31/08/2017","31/12/2021","31/12/2018","31/08/2016","","31/12/2010","","31/12/2018","","Dec. 31, 2018","01/04/2019","31/12/2018","30/06/2019","Plan Fiscal year is July 1st to June 30th","" "Total Net Assets (millions of dollars)","14,800 as of Aug 31, 2017","$37.8 Billion","8539.1","5.481 million","","2,566.12","","$4.938 billion","","$201.3 billion (June 30,2019)","1,000","$70 400","295","As at June 30, 2019 $5,935","" "Funded Ratio (%)","90.0% (Aug 31/17)Market value basis","105.3% as of the 2020 Actuarial Valuation","96.8% Account A (Teachers) - 66.9% Account B (Province) - total fund 82.2%","105.6%","","64.30%","","75.3%","","104%","122%","110,2%. Method smoothed or adjusted over 5 years.","5.2","Valuation as at July 1, 2019 Going Concern 98.7% Solvency 75.3%","" "Asset Mix and Other Related Information","Return Enhancing (Global Equity, Private Equity) 38.5%, Fixed Income (Universe Bonds, Long Term Bods, Money Market) 22.5%, Inflation Sensitive (Real Estate, Infrastructure) 20%, Absolute Return 10% ","Fixed Income: short-term 2.3%; mortgages 2.8%; government bonds 25.3%; credit 11.2%. Equity: Canadian 3.1%; global 18.7%; emerging markets 5.4%; private 14.3%. Real estate 15.9%. Infrastructure and renewable resources 10.4%. Other 0.3%","FIXED INCOME - Cash and Short term 1.9%; Public Bonds (universe) 8.9%; Long Bonds 9.3%; Real Estate debt 9.7%; High yeld debt 2.3%; Private debt 3.4% EQUITY - Canadian 11.4%; US 6.3%; International (EX US) 11.4%; Global (All country) 6.7%; Private 7.8% ALTERNATIVES - Real Estate 16%; Infrastructure 4.9%","Fixed income (cash, gov't & corporate bonds) 32.1%; Inflation-linked funds (real return bonds, real estate & infrastructure) 13.1%; Absolute Return Strategies 8.0%; Public Equity (Canada, US & International) 20.8%; Low Volatility Equity (Canada, US, International & Emerging Markets) 21.3%; Private Equity 4.4% ","","79% equities; 18% Bonds; 3% Real Estate","","3.03% Cash; 2.92% Commodities; 7.66% Absolute Return Strategies; 7.50% Canadian Equities; 12.20% US Equities; 21.16% Real Assets; 18.01% International Equities; 30.00% Fixed Income","","See otpp.com","Global Equities 31%; Canadian equities 17%, Fixed 42%; Real Estate Infrastructure 10%","As of January 1, 2019: Fixed incomes: 31% Real Assets 19% Equities:50%","Cdn Equities 14%, US Equities 2%, International Equities (Private) 3%, Short Term Bond 60%, Nominal Bonds 16%, Real Estate 5%","Cash & Equivalents = 3.68% Cdn Mortgages = 5.42% Cdn Bonds = 22.29% Global High Yield Bonds = 5.66% Cdn Equity = 10.72% Cdn Small Cap Equity = 0.50% Global Equity = 31.68% Emerging Markest Equity = 4.99% Cdn Private Equity = 0.32% Real Estate = 8.91% Infrastructure = 5.55% Currency = 0.28% ","" "Notes (Investment Information)","","10-year annualized rate of return 10.1% as at December 31, 2021","","","","","","","","","","As of December 31, 2018: The RREGOP is estimated to have 552,000 contributors of whom 65,000 educators full-time elementary-secondary, professional et adults sectors. The fund value listed here represents employee contributions only. Government is establishing its own fund.","The Teachers' Superannuation Fund has adopted a de-risking investment strategy to preserve capital since the Fund will have no assets as at June 30, 2030 pursuant to its governing legislation. ","","" "Inter-Provincial 'Range of Assumptions'","Yes","Yes","Yes","Yes","No","Yes","No","Yes","No","Common assumptions","Yes","Yes","Yes","Yes","No" "Reciprocal Agreement-Federal Public Service","Yes","Yes","No","No","No","No","N/A","No","N/A","No","No","Yes","No","No","N/A" "Reinstatement for Transfer Purposes","No","No","No","No","No","No","No","No","No","No","No","No","Yes","Yes","No" "Notes (Reciprocal Agreements)","","B.C. has agreements with AB pre 1995 for service transfer at retirement. Amount transferred is annuitized; no pensionable service is recognized, but eligibility service is pro-rated. All eligibility service is pro-rated to pensionable service in the Inter","","","","","Pension transfer agreements currently in place with other pension plans can be viewed on the Government of Canada website.","","Pension transfer agreements in place for B.C., Quebec and Manitoba Teachers Plans.","","","","Refunds only. CV transfers not reinstateable.","Refunds only. CV transfers not reinstateable.","Pension transfer agreements in place for CTF, B.C., Quebec and Manitoba Teachers Plans. Note teachers in NWT and Nunavut in the same plan." "Administrative Structure","Alberta Teachers' Retirement Fund Board (ATRF) - appointed by order in council. Investment Committee - Standing Committee of ATRF Investment Committee - Standing Committee of ATRFB","The Teachers' Pension Plan is a joint trusteeship between the Plan Member Partner (BCTF) and the Plan Employer Partner (Government). The administrator of the TPP is the Teachers' Pension Board of Trustees. BC Pension Corporation is the administrative agent","Government matches all teacher contributions after April 2007. However also draws on those funds to pay their 50% of pensions, resulting in a projected decrease to Government account over time","Board of Trustees (8 plus 2 Observers) named by the Parties - Gov't & NBTF Jointly-owned with Public Service Trustees Vestcor Pension Corporation - consists of Vestcor Investment Management Corporation and Vestcor Pension Administration Services ","","Pensions are administered by the province’s Department of Finance. Pensions Administration Committee; day-to-day operations. Pooled Pension Fund Committee; Teacher plan is one component. Committee oversees investment of all public sector plans.","Teachers covered by the Federal Public Service Superannuation Plan. Have no role in administration. Ministry of Supply and Services appoints or assigns federal employees to administration roles.","NSTU is a joint and equal partner in respect to overall governance and administration of the Plan. Board of Directors named Teachers' Pension Plan Trustee Inc. responsible to oversee the administration of the Plan and investment of the pension assets. The Teachers' Pension Board is responsible for the governance of the Plan. Nova Scotia Pension Services Corporation was established in April 2013 owned by the Teachers' Pension Plan Trustee and the Public Superannuation Plan Trustee to administer benefits and investment assets of the public sector plans in Nova Scotia.","Teachers covered by the Federal Public Service Superannuation Plan. Have no role in administration. Ministry of Supply and Services appoints or assigns federal employees to administration roles.","Ontario Teachers' Pension Plan (OTPP) Board is responsible for all investments, administration, and the setting of valuation assumptions. The Partners (OTF and the Government of Ontario) are responsible for plan design (benefits / contribution rates) and the frequency of valuation filings (subject to Ontario's triennial filing requirement). ","PEI Teachers' Superannuation Fund is held in trust by the Provincial Treasurer. Investment policy approved by Order-in-Council. Fund is part of master trust with Civil Service, Nurses, Operating Engineers, CUPE and Health Sector. Master Trust Investment Committee is administering body.","Retraite Québec: Administration and day-to-day operation. Caisse de dépôts et placements: investment body","Teachers' Superannuation Commission, a Commission responsible to the Minister of Education, under the fiduciary responsibility of the Minister of Finance","The Saskatchewan Teachers' Retirement Plan (STRP) is a pension plan for teachers.   The Plan is administered by the Saskatchewan Teachers' Federation (STF) Executive, supported by the STF Pension & Benefits Board of Directors.","Teachers covered by the Federal Public Service Superannuation Plan. Have no role in administration. Ministry of Supply and Services appoints or assigns federal employees to administration roles." "Administrative Members","ATRFB - 4 teacher representatives nominated by ATA - 4 government representatives nominated by President of Treasury Board and Minister of Finance.","Teachers' Pension Board of Trustees: - 5 trustees appointed by BCTF - 5 trustees appointed by the Government - Chair, if not selected from the appointed trustees, is non-voting. BC IMC Board - 1 of 7 appointed by TPB BC Pension Corporation Management Board","TRAF Board (appointed by Order in Council) - 3 recommended by MTS - 3 chosen by Government - chair appointed by Government INVESTMENT Committee - complement of 3, legislated and reports to Board - chair appointed from Board, by Government - Deputy Minister of Finance - Teacher member of Board ","Chair of NBTPP - Larry Jamieson President of Vestcor Corporation - John Sinclair ","","Pensions Admin. -2 representatives of NLTA -2 representatives of Government Pooled Pension Fund Committee Composed of government representatives (senior bureaucrats) representatives from the public service unions and public servants’ retiree groups. Eac","Yellowknife teachers have money purchase plan administered by a committee composed of one employer representative and one representative of the Mutual Fund.","Investments After April 1/06, all investments come under the direction of the Pension Board of Directors. Currently, investment is done by Nova Scotia Pension Corporation Board. Teachers' Pension Plan Trustee Inc. - 4 appointed by NSTU - 4 appointed by Minister of Finance - 1 jointly appointed, neutral Chair Teachers' Pension Board - 4 appointed by NSTU - 4 appointed by Minister of Finance.","Yellowknife teachers have money purchase plan administered by a committee composed of one employer representative and one representative of the Mutual Fund.","OTPP Board is 11 members: 5 appointed by OTF and 5 appointed by Government + Board Chair (who is jointly appointed).","1 chair - Deputy Minister of Finance; 4 representatives from the Provincial Government; 1 representative from CUPE; 1 representative from IUOE; 1 representative from MLA; 1 representative from PEINU; 4 representatives from PEITF and 3 representatives from UPSE","Both Retraite Québec and CDP members are all appointed by government. Some consultation with unions occurs.","Teachers' Superannuation Commission - 3 members nominated by Saskatchewan Teachers' Federation (STF) - 3 members nominated by Government - 1 chair determined by mutual agreement between the other members of the Commission - All are appointed by order in-council","The STF Executive is comprised of 10 members who are elected by Council.   The term  of office for members is two years.  The Executive appoints the STF Pension & Benefits Board of Directors - Six STF Members and two independent professionals with specialized knowledge in the area of pension and benefits. The term of office for directors is 3 years (staggered as appropriate to ensure an orderly change in board membership).","" "Substitute Teacher Membership","Voluntary","Compulsory","Voluntary/Compulsory with threshold (see notes)","Permitted once achieve 35% of YMPE in earnings over two consecutive calendar years","","Compulsory","GNWT Unit: Compulsory for all full-time and part-time in excess of 12 hours per week","Compulsory","GNWT Unit: Compulsory for all full-time and part-time in excess of 12 hours per week YK#1 Unit:Voluntary defined contribution for full time teachers only","Compulsory","Not permitted","Compulsory","Compulsory","Compulsory","Not Permitted" "Notes (Substitute Teachers)","Substitute teachers may purchase pension service in 1-yr. ""blocks"" of 186 days whenever they have accumulated those days. Remainder days (i.e., less than 186) may be purchased at point of retirement.","As of July 1, 2005, mandatory participation for all teachers, including part-time, teachers on call, night school, summer school and adult education teachers. The term “teachers” includes associated professionals and certificate professionals and all ","Compulsory membership if earnings exceed 1/4 of YMPE in 2 successive years. Substitutes have 90-day period after end of calendar year to purchase service at ordinary contribution rate. Otherwise, they can purchase service, but at actuarial cost.","Supply teaching days can be purchased for pension credit as soon as teachers start paying into the pension plan","","Compulsory for periods in excess of 19 consecutive days. Compulsory contributions to Government Money-Purchase Plan for day-to-day substitute teachers (5% contribution matched by employer).","Superannuation not permitted for substitutes.","If you have less than 2 yrs. experience, & terminate employment before 90 days, you may withdraw contributions.","Superannuation not permitted for substitutes.","","The exclusion applies only to the day-to-day substitute. Compulsory participation when on salary grid (21 or more consecutive days in same assignment).","Compulsory","Credited with contributory & eligibility service on a proportionate basis of days taught to the number of days in the school year","Credited with contributory & eligibility service on a proportionate basis of days taught to the number of days in the school year.","Superannuation not permitted for substitutes." "Average Age of Those Retiring in Previous Calendar Year","60.2 as of August 31, 2017 (for those retiring from ""active"" status)","61","60","","","56.13","","59.9","","Age 59 (retirements in 2017/18 school year)","58.92","60.7 for retirees under 65","64.84","58.15","~60" "# of Retirees as of June the Previous December 31","27,625 as of August 31, 2017","40073","15,310","9,052 retirees & survivors","","11","","13,500","","142,000 (at Dec. 31, 2018)","1672","2018:12 000 including health et public service. Education sector represents 40%, including non-teachers","As at June 30, 2019 62","As at June 30, 2019 3,247","~25" "# of Retirees in the Previous Calendar Year","1,171 in the 2016/17 school year","1335","584","approx. 200","","155","","373","","4,769 retirements in 2017/18 school year","62","2017:11 000, including health et public service. Education sector represents 40% ncluding non-teachers","42","As at June 30, 2018 2,859","~25" "# of Actives in the Previous Calendar Year","40,716 as of August 31, 2017","50,031 Actives Ratio of active to retired was 1.24:1 in 2021","16,330","8,121","","5846","","12,882","","185,000 (at Dec. 31, 2018)","1681","Almost 80,000 teachers, including regular, part-time and substitute teachers","As at June 30, 2019: 108","As at June 30, 2019 15,532","~800" "Ratio of Female to Male Active Plan Members in the Previous Calendar Year","30,107F/10,609M = 26.06% male as of August 31, 2017","74% female 26% male <1% X","Approximately 70% female and 30% male","","","70:30:00","","2.71 female to 1 male","","","n/a","71.8% female 28.2% male","F: 99 M 9 Ratio: 91.7%","Female 75%","25/75" "# of Inactives (vested and unvested) in the Previous Calendar Year","11,997 as of August 31, 2017","12714","7,017","1,563","","","","5,961","","65,000 (at Dec. 2018)","558","521 000, including health et public service. Education sector represents 40% including non-teachers","As at June 30, 2019: 4,811","As at June 30, 2019: 8,831","" "# of Retirees in the Public Education Workforce (K-12) in the Previous Calendar Year","655(51 of which were more than 0.6FTE) in the 2016/17 school year. Retired teachers worked a total of 252.1 FTE years at an average of 0.38 FTE each.","1335 TPP members","n/a","approx. 200","","8045 (includes survivor recipients)","","","","","n/a","282 000. Distribution between teachers and other categories of employees is unavailable. Education sector represents 40% including non-teachers","Irrelevant & unknown; there are no restrictions on teaching","","" "Average Salary of Those Retiring in the Previous Calendar Year","As of August 31, 2017 4 max - 94,255, 5 max - 97,677, 6 max - 101,442. Average admin allowances 100 students - 17,905, 300 students - 22,724, 500 students - 26,645, 1000 students - 36,538.","89000","Approx $88,500","","","69,940","","","","$95,900 (average best 5 salary for those retiring in 2017/18 school year)","80612","Approximately 80 000$","For the period July 1, 2018 to June 30, 2019 $84,491.16","For the period July 1, 2018 to June 30, 2019 $93,843","~$60,000" "Average Present Value of Pensions of Those Retiring in the Previous Calendar Year","","$30,600 average lifetime annual pension","n/a","","","48,960","","","","","n/a","$19,710. Distribution between teachers and other categories of employees is unavailable.","n/a","For the period July 1, 2018 to June 30, 2019 $883,227","" "Notes (General Information)","updated March 2, 2020","Updated January 11, 2023","As of Dec. 31, 2010. Number of retirees includes deferred members. Updated March 2, 2020","","Updated March 4, 2020.","","Updated March 4, 2020","Joint sponsorship agreement required a review of the plan funding targets in 2020. Due to the funded level of the plan, this review was moved up to 2019 and is presently ongoing. Updated March 4, 2020","","Updated March 4, 2020","17-Jan-2018 updated March 2, 2020","Updated on March 3, 2020.","Average present values at June 30, 2019, n/a = not available Updated March 4, 2020","Updated March 4, 2020",""