On February 24, 2014, the Government of Alberta announced pension plan changes to the Local Authorities Pension Plan (LAPP). The Honourable Doug Horner, President of Treasury Board and Minister of Finance, explains the plan changes in his letter to plan members.
ALL changes will only affect benefits earned from January 1, 2016 onward.
Changes to LAPP Benefits
Some LAPP benefits will change in 2016, but the most valuable aspects of your pension remain the same.
Here's what is not changing under the new rules:
The changes that take effect in 2016 will modify the plan's ancillary benefits (add-ons). These changes will not impact service earned before January 1, 2016. Read more...