What is the Nova Scotia Health Employees' Pension Plan?
The Nova Scotia Health Employees' Pension Plan(NSHEPP) is jointly sponsored by Health Association Nova Scotia and four unions, CUPE, Unifor, NSGEU and NSNU. Established on
January 1, 1961, the Plan is a comprehensive and competitive
defined benefit pension plan that offers:
to its members...
…the benefits of a secure, tax-effective way to enhance
their retirement income at a reasonable cost, and thereby provide for a
brighter financial future through a lifetime pension. This pension is based on
a pre-set formula that takes into account each individual member's
annualized pensionable earnings and years of
credited service. In addition to the lifetime pension, the Plan also
provides a number of other valuable features, including:
generous early retirement provisions;
supplemental monthly bridging benefits;
assistance with inflation protection for pensioners
through regular cost-of-living adjustments;
comprehensive survivor benefits (including pre-retirement
survivor benefits); and
portability options for those members who leave
the Plan before retirement.
to its participating employers...
…the benefits of lower costs through economies of scale,
professional investment management and plan administration, and effective
NSHEPP is one of the largest registered pension plans in Nova
Scotia. As of December 31, 2016, it serves over 30,000 active members who work
at over 150 sites across the province; over 10,500 pensioners who receive a
monthly income from the Plan; and, over 1,200 former employees who elected a
deferred pension when they left employment.
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