Pensions Your Deferred Wages

NSGEU is committed to keeping the ‘pension promise’ for our members, that is to say that we do everything in our power to ensure that our members have financial security in their retirement years.

Pensions are your deferred wages and they are part of your employment contract. We need to protect and develop pensions today so we won’t be impoverished tomorrow. Unfortunately, most workers today, including some of our members, don’t belong to a workplace pension plan.

A pension is not only important for the well-being of the family in retirement, but is a recruitment and retention tool as well. Many young and experienced workers choose an employer because of the promise of a good pension plan.

A pension plan is important because it provides for financial security at retirement. The NSGEU is focused on improving the benefits for members in current pension plans and garnering access to pension plans for members who are without. We are focused on education for our members on their rights to their deferred wages and a retirement with dignity.

NSGEU members participate in 3 types of pension plans: Defined Benefit, Defined Contribution and Group RRSP.

Defined Benefit Pension Plans

Defined Benefit: In a defined benefit plan, you know in advance how much your pension will be at retirement. The cost of a defined benefit plan is met by contributions made by you and your employer.

The following are defined benefit plans that NSGEU members participate in:

Public Service Superannuation Plan

Members of Locals: 1, 2 ,3, 4, 5, 6, 7, 8, 14, 16, 17, 44, 46, 48, 55, 71, 80, 193, 104, 195, 267, 470, 480, 1670

There are some Locals who have members participating in the PSSP as they were formerly civil servants and their services were devolved. New employees are enrolled in the employer sponsored pension plan.

Members of Locals: 119, 100, 45, 77, 92, 96, 101, 1246

Nova Scotia Health Employee’s Pension Plan

Members of Locals: 119, 20, 122, 423, 27, 32, 34, 36, 38, 39, 41, 100, 76, 83, 84, 86, 189, 190, 191, 101, 1246

VON Canada Pension Plan

Members of Locals: 29, 31, 35, 40, 85

Dalhousie Pension Plan

Members of Locals: 77, 92, 96, 99

Halifax Regional Municipality Pension Plan

Members of Local: 53

Cape Breton Regional Police

Members of Local:  1995

Pension Plan for Employees of Sherbrook Restoration Commission

Members of Local:  50

South Shore Regional School Board Support Staff Pension Plan

Members of Local: 70

Tri-County Regional School Board Support Staff Pension Plan

Members of Local : 74

Regime de Pension de l’Université Sainte-Anne

Members of Local:  45

Defined Contribution Pension Plans

Defined Contribution: In a defined contribution plan, you know the amount that you and your employer will contribute to the plan; however, you do not know what your retirement income will be at retirement.

The following are defined contribution plans that NSGEU members participate in:

Tri-County Housing Authority

Members of Local:  25

Cobequid Housing Authority

Members of Local:  26

Guysborough County Home Support Agency – Richmond County Division

Members of Local:  33

The Metropolitan Regional Housing Authority

Members of Local:  47

Cape Breton University

Members of Local:  18

Saint Mary’s University Pension Plan

Members of Local:  179

Mount Saint Vincent University

Members of Local:  81

NSCAD

Members of Local:  82

St. Francis Xavier University

Members of Local: 88

Some Employers offer the option to members to join either their defined benefit or defined contribution pension plan. These Locals are:

Pension Plan for the Non-Teaching Employees of the School Boards of Nova Scotia

Members of Locals: 72 & 73

Direction NS Council for Vocational Services Society Pension Plan

Members of Locals: 58, 61 & 65

Canadian Blood Services Defined Benefit Pension Plan

Canadian Blood Services Defined Contribution Pension Plan

Members of Local: 43

Registered Retirement Savings Plan

An RRSP offers similar benefits as a defined contribution plan; however, the main difference is an RRSP is not legislated by the Province of Nova Scotia and in some plans members may use their accumulated funds for purposes other than retirement..

For information on your RRSP please refer to your collective agreement or contact your Human Resources representative for more information.

Members of Locals: 59, 62, 63A, 66

No Retirement Coverage

Unfortunately, not all members of NSGEU have the opportunity to participate in some type of retirement savings arrangement. This NSGEU understands the importance of retirement income and are striving to obtain coverage for these workers.

Members of Locals: 124, 67, 68, 78B

For all inquiries about Pension & Benefits, contact our Pension & Benefits Officer, Corinne Carey.