The Basics

Oversight of the LAPP pension is provided by a number of participants. LAPP Corporation is the administrator and trustee of the Plan. The Plan’s sponsors, the employees (LAPP members) and employers (LAPP employers) who pay for the Plan, appoint representatives to the Corporation’s Board of Directors and the Sponsor Board.

Each of these bodies within LAPP’s governance structure play an integral role in ensuring the LAPP fund is secure and that your pension will be there when you retire.

A notable aspect of LAPP’s joint governance is that equal say is given to Plan sponsors, and Plan sponsors jointly share the risks.

The Boards and the Corporation management focus on what is good for LAPP members and the Plan’s health and sustainability. These are the elements that make up LAPP’s present-day governance structure:

LAPP Governance Structure

The Sponsor Board and LAPP Corporation, together with its Board of Directors, have a unique set of responsibilities:

Sponsor Board

  • Makes decisions related to Plan design, including pension benefits and eligibility rules
  • Sets LAPP’s contribution rates
  • Determines the Plan’s Risk Appetite and sets the Funding Policy
  • Establishes and maintains the LAPP Plan Text
  • Meets with a dedicated group of sponsor representatives called the LAPP Stakeholder Consultation Group

LAPP Corporation and its Corporate Board

  • Oversee the LAPP fund
  • Establish the Statement of Investment Policies and Procedures (SIPP)
  • Set the investment asset mix
  • Maintain LAPP’s robust, enterprise-wide risk-management system
  • Arrange for the yearly actuarial valuation to be performed on the Plan
  • Set and execute strategic and operational plans
  • Oversee and evaluate LAPP’s service providers:
    • AIMCo,
    • Alberta Pensions Services Corporation (APS)
  • Set the strategic direction for Plan communications and communicates with all LAPP stakeholders, including members and employers

LAPP is a public sector pension plan in Alberta registered under the Alberta Employment Pension Plans Act (EPPA).

The LAPP Plan Text is our legal governing document that details the benefits and administration rules of LAPP.

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