As plan administrator for the Newfoundland and Labrador Public Service Pension Plan (the PSPP), we’re always looking to the future and thinking about what will be best for our members. And our new Plan Text is no exception.
On February 14, 2020, we took another step in becoming a modern, independent pension organization with the proclamation of the PSPP Plan Text, a non-statutory plan text, and the amendment of the Public Services Pensions Act, 2019 (the Act).
So, what does this mean for you?
Not a whole lot. The switch from a statutory plan text to a non-statutory plan text will have little effect on plan members. Almost all aspects of the PSPP remain the same; your contributions and benefits haven’t changed and have been incorporated into the Plan Text, and Provident10 is still the plan administrator.
The only change stemming from the introduction of the Plan Text is the process for challenging a decision made about your pension. If you don’t agree with a decision made about your pension, we will always work with you to resolve disagreements amicably and informally. However, should we be unable to reach a resolution, you have the right to a formal appeal to a Review Officer, and then to an Appeal Commissioner. For more information on the appeals process, please click here to view the Appeals Process and Procedure.
For more information on the Plan Text, including frequently asked questions, the Plan Member Handbook, the Joint Sponsorship Agreement, and the Appeals Process and Procedure, visit the Plan Text page.