New Brunswick Public Service Pension Plan
YOU’RE INVITED!
Visit nbpspp.ca/2022AIM to register for this year’s virtual Annual Information Meeting. It’s an opportunity for you to meet your Board of Trustees and learn more about your Plan.
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For NBPSPP Retirees: Additional information for those who have or will receive retroactive salary increase due to recent ratification of collective agreements
If you are expecting a retroactive salary increase for a period when you were an active employee, you must contact your former employer to initiate the process. Your employer must withhold pension contributions in order for the additional salary to impact your pension benefit amount. After Vestcor receives the retroactive contributions, your pension benefit will be recalculated, and you will receive a retroactive lump sum payment for additional benefit payable since your retirement. Please note that with the large volume of retroactive salary increases being processed at this time, your pension recalculation could take several months to complete.
View the interactive version of your Spring 2022 Newsletter in the window above (the option to view it full screen should be visible in the bottom right of the window), or alternately, view the PDF version by clicking the button below.
NBPSPP Newsletter Spring 2022 – Active Member Edition (PDF version) NBPSPP Newsletter Spring 2022 – Retiree Edition (PDF version) NBPSPP News Release: Full Cost of Living Increase Provided (September 2021) NBPSPP Annual Report 2020 Explaining the Cost of Living Increase – January 1, 2022 (NBPSPP) NBPSPP Response to Misinformation (Aug 2021) Response to the Auditor General Annual Report (NBPSPP) – February 2021 Understanding Your Employee Statement Of Pension Benefits (NBPSPP)Whether you need to provide a form for your pension or employee benefits, quickly find the form you need.
GeneralApplying for your pension is easy, but it’s important that you understand the process and timeline. The video below provides an overview of the necessary steps.
Additional information is also available here: Life Events: Planning for your retirement.
Planning for Retirement Checklist Pension Estimate Form Termination | Retirement Form Declaration of Marital Status FormMember booklets and guides contain important information relating to your pension plan.
Understanding Your Employee Statement Of Pension Benefits (NBPSPP) NBPSPP Pension Plan Member Booklet Marriage Breakdown Booklet NBPSPP New Pre-Retirement Death Benefit Rules Fact Sheet Naming a Beneficiary | Death Benefits Fact Sheet (NBPSPP) Purchase of Service : Additional Information (NBPSPP) NBPSPP At-A-GlanceStay informed about your pension plan through the semi-annual newsletters provided by the Board of Trustees of the NBPSPP, in addition to the general communiqués provided by the Board and Vestcor.
Sign up to receive your newsletter and other general communications electronically. GeneralHow cost of living adjustments are calculated by your Plan’s actuary is explained in the resources below.
Explaining the Cost of Living Increase – January 1, 2022 (NBPSPP) Explaining the Cost of Living Increase – January 1, 2021 (NBPSPP) Explaining the Cost of Living Increase – January 1, 2020 (NBPSPP) Explaining the Cost of Living Increase – January 1, 2019 (NBPSPP)Above you will find a video version of the Employee Presentation which is usually carried out in person by Vestcor’s Member Services Team. It is separated into the following topics:
- Governance of the NBPSPP
- NBPSPP Pension Contributions
- Vesting Under the NBPSPP
- Benefits Accumulated Under the NBPSPP
- CPP Integration and Your NBPSPP Pension
- What Can Impact Your NBPSPP Pension Amount?
- Keeping Track of Your NBPSPP Pension Benefit
- Forms of Pension Under the NBPSPP
- Schedule of NBPSPP Pension Payments
- NBPSPP Benefits Payable Upon Termination or Death
- Designating a Beneficiary Under the NBPSPP
- Other Provisions That May Impact Your NBPSPP Pension
- Thinking About Retiring as an NBPSPP Member
If there is a specific topic that you are interested in, hit play on the video above, then skip ahead using the controls that appear in the bottom left corner. You can also click on any of the topics listed.
Watch the full playlist on YouTubeWonder how your pension could be affected by times of transition in your life? Easily find the information you need in our Life Events section. Navigate through it based on what stage of your life you are in. It’s divided into the following sections:
- Welcome to the Plan
- Returning from a Leave of Absence
- Ending a Spousal Relationship
- Leaving your Employment
- Planning for Retirement
- Welcome to Retirement
- Death of a Member
Click on the link below to experience it for yourself.
Life Events and Your PensionThe Board of Trustees is in place to manage the Plan in the best interest of both active and retired members. It follows industry best practices in terms of governance and administration of the Plan. The NBPSPP and the New Brunswick Teachers’ Pension Plan (NBTPP) jointly own Vestcor Corp.
NBPSPP Board BiographiesThe following documents guide the Board of Trustees in the governance of the NBPSPP.
NBPSPP Agreement and Declaration of Trust NBPSPP Statement of Investment Policies NBPSPP Plan Text NBPSPP Summary of the Funding Policy NBPSPP Funding Policy NBPSPP (Formerly PSSRP) Memorandum of UnderstandingEvery year, the Board of Trustees hosts an Annual Information Meeting (AIM), open to all members. Find below details of the most recent AIM.
NBPSPP 2021 Annual Information Meeting NBPSPP 2020 Annual Information Meeting NBPSPP 2019 Annual Information Meeting NBPSPP 2018 Annual General Meeting NBPSPP 2017 Annual General Meeting Video Recording NBPSPP 2016 Annual General Meeting (Presentation) NBPSPP 2016 Annual General Meeting (Recording)View the Plan’s most recent annual report, actuarial valuations, financial statements, and performance composites for the NBPSPP.
Actuarial Valuations