The purpose of the Public Employees Pension Plan (PEPP) is to provide a retirement benefits to our members. To do this, PEPP is a defined contribution (DC) pension plan, which involves both you and your employer contributing a defined percentage of your salary towards your PEPP account. These contributions along with any return on investment build in your account over time and provide you with an income when you retire.
Soon after starting in your role, you will receive a PEPP Welcome Package in the mail. Be sure to go through the package to learn what additional information you need to provide PEPP so your member profile is completed. There are three steps in this process:
- Complete the New Plan Member Profile. Mail the original to PEPP in the postage-paid envelope provided.
- Register for PLANet - PEPP's secure online tool. This allows you to monitor and manage your PEPP account. You will need your PEPP member number which you will find in your PEPP Welcome Package.
- Designate your beneficiaries. You can add/change your beneficiaries online through your PLANet account or you can complete and mail the form included in your welcome package to PEPP.
Making a choice
Prior to PEPP receiving your completed New Plan Member Profile, you will be automatically enrolled in PEPP's default fund, PEPP Steps. This default fund is chosen for members who don't make an investment choice for their contributions.
To learn more about PEPP's investment options, go to Fund Information and Performance.
To make a change to your current investment instructions, go to Account Changes and Requests - Contribution Instruction Change.
Designating a beneficiary
When you enrol in the Plan, you are required to name a beneficiary who will receive the death benefit if you should die before you begin receiving your retirement income.
To learn more about designating a beneficiary, go to Designating a Beneficiary.
To make changes to your designation of beneficiary, go to Account Changes and Requests - Designating a Beneficiary.
Your member rights & responsibilities
As a member, you are responsible for:
- selecting an investment option(s) that is right for you;
- being informed about the Plan;
- notifying PEPP of any changes to your personal information;
- determining the amount of personal savings you may need for retirement outside of PEPP; and
- consulting a qualified financial advisor to discuss your specific financial situation.
Permanent employees: Are required to join PEPP.
Non-permanent employees: If you’re a non-permanent employee, you may choose to join the Plan at any time. If
you decide to join PEPP at a later date, your membership will not be retroactive. Some participating employers require you to join the Plan as a condition of employment, whether you’re permanent or non-permanent.
Employer responsibilities
Employers are responsible for submitting enrolment notices to PEPP. They must notify PEPP of any changes in your employment within 15 days. They must also remit contributions to PEPP no later than 15 days after the date you are paid.