As the legislated administrator and trustee of the Plan, LAPP Corporation (LAPP Corp.) ensures that pensions are paid to retirees and that our more than 260,000 members are guided in preparing for their retirement. This is done by providing strategic guidance for the Plan, managing risk and overseeing the $43-billion LAPP fund.
The Corporation is led by an executive team made up of experts skilled in all facets of running a large multi-sector pension plan, including risk management, investments, funding management, pension law, pension policy, stakeholder relations and communications.
The LAPP Corp. team monitors pension developments around the world, researches issues and makes policy, funding, and operational recommendations to its Corporate Board. LAPP Corp. also prepares its Corporate Board and the Sponsor Board for making important decisions about the pension plan by setting and executing strategic business and operational plans and maintaining a robust, enterprise-wide risk-management system.
LAPP Corporation is responsible for overseeing the work of service providers for the Plan to ensure the delivery of pension benefits and the long-term sustainability of the Plan. These Alberta Crown corporations, which you can learn more about in the section called Our Partners, provide pension benefit administration and investment management services to LAPP.
LAPP Corporation publishes the Plan’s Annual Report each year, which contains audited financial statements and highlights of the year’s activities. LAPP Corp. sets the strategic direction for Plan communications, consults and communicates with all stakeholders through an award-wining website and through a number of publications including Member and Retiree Newsletters. Member benefit information on the website and in printed member materials are developed in partnership with LAPP’s service provider of pension benefit administration.
LAPP Corporation is guided by bylaws and policies that outline rules of ethical conduct and conflicts of interest. Documents such as compensation, expenses, bylaws and meeting minutes can be found in Governance Publications.