The Benefits of a LAPP Pension

There are many great things about your LAPP pension:

• It's paid for your lifetime;
• The pension formula provides a specified income regardless of market conditions or how long you live;
• The longer you work, the more your pension grows;
• It can provide a lifetime income for a spouse or partner if you pass away;
• It's adjusted for inflation annually;
• Your contributions are tax deductible;
• Pension funds are professionally managed, so you have no need to make difficult investment decisions;
• You can add to your service with transfers from other pension plans and buying back periods of leave; and
• It can be transferred to many other Canadian pension plans.

The Value of Immediate Vesting

Being vested in LAPP means you qualify for a secure, reliable monthly pension at retirement, paid for as long as you live. On or after January 1, 2022, active members of LAPP will be immediately vested. Immediate vesting is now the legislated minimum standard set out in the Employment Pension Plans Act (EPPA) of Alberta, under which LAPP is registered. The change aligns LAPP’s vesting provisions with the standard across Canada, and many plans across the country have been moving to reduce or eliminate vesting periods for members.

These are some of the things that make your LAPP pension one of the most important and trusted financial assets you'll ever own. We believe so strongly in the value of a LAPP pension that we've dedicated a whole section of the website to it: Your Plan has Value.