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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.
Alberta moved to immediate vesting in September 2014 for private sector defined benefit plans, and now public sector workers in LAPP will have the same benefit protection. Immediate vesting is 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; many plans across the country have been moving to reduce or eliminate vesting periods for members.