Employee Statement of Pension Benefits
Your Employee Statement of Pension Benefits provides you with personalized estimated pension amounts as of December 31 of a given year. Your statement also includes information you need to use Vestcor’s Online Pension Estimate Calculator.
Need help with your statement? Refer to the information included below, and these helpful videos:
- Keeping Track of Your NBPSPP Pension Benefit
- Benefits Accumulated Under the NBPSPP
- Using the Pension Estimate Calculator (NBPSPP)
If you were an active member of the NBPSPP in 2022, your 2022 Employee Statement of Pension Benefits is sent to you in April.
One of the items noted within the Employee Contributions section of your Statement is Interest credited in 2022. As a result of the market volatility that occurred over the past year, the interest rate applicable to plan contributions for the 2022 statements is negative (-4.06%).
What does this negative interest rate mean to you?
- It does NOT impact your NBPSPP pension benefit at retirement.
- If you terminate your employment and choose a refund/transfer, it could impact the calculation depending on the applicable methodology.
For more information, refer to the document below.Negative Employee Contribution Interest Rate for the Statement Period 2022 (NBPSPP) Understanding Your Employee Statement Of Pension Benefits (NBPSPP)